Swedish influencer marketing company Cure Media announced what the company describes as a “significant investment” from Norwegian private equity firm Equip Capital. Details of the deals have not been disclosed by the parties, but according to information from Swedish media Breakit, the existing owners are selling about half of Cure Media for SEK 200 million.
The funds will be used for international expansion, technology development and new hires. They’re expecting to bring in new expertise in both marketing and tech through the new owners.
“Our ambition is to become a European category leader in our niche and reach a billion (SEK) turnover in a reasonable time. We seem to add a lot of value to our customers, 9 out of 10 recommend us further. We want to continue to create conditions for more consumer brands to implement the necessary transformation and embrace influencer marketing with a focus on creating results” says Sam Foroozesh, CEO and co-founder of Cure Media.
“Cure Media stands out with its data-driven, results-focused and scalable approach to influencer marketing that we have not seen anywhere else. From the first meeting with the founding team, we saw a perfect match between Cure Media and Equip, and we look forward to lifting the company further in the partnership” says Andreas Lysdahl, Partner and co-founder of Equip Capital.
Cure Media was founded in 2014 and has the Nordic region as its main market, although it has also begun European expansion. The company has offices in Stockholm, Berlin and London and operates in the Nordic countries, Germany, the UK, the Netherlands, Austria and Poland.