Vendep has announced their first investment in US today. It is into a California based company, v-Pitch. v-Pitch helps companies digitize their sales efforts and in doing so, adds analytics to better qualify leads for businesses. Vendep on the other hand is a Finnish investor that instead of investing capital, invests technological resources into companies. Vendep employs 13 people in Finland and 140 in India.
Earlier this year, Jupe Arala, one of the partners in Vendep began executing plans to move to the Valley and start meeting companies there. During this spring Vendep has definitely found its place as its able to announce its first investment.
In Finland, Vendep has worked with many different companies. Most notable ones include the NettiX properties that cover the classified business in the areas of cars, apartments, summer cottages and so on. These are some of the most visited classified websites in Finland and more importantly, very profitable businesses.
For v-Pitch, Jupe Arala will be joining the team to help them take the concept forward. v-Pitch is not a very early stage company by many standards, it already has a working product and some paying customers like Fujitsu, New York Life and Orrick.
Vendep has also announced recently the hiring of their new CEO. Sakari Pihlava, the new CEO, has previously worked with companies such as F-Secure, where he lead the R&D department and was part of the management team that took the company public. According to Pihlava, Vendep expects to announce more investments this summer.
It’s great to see all kinds of startup related companies expand their horizon globally. I’m sure there will be a lot of advantage in building the Northern European network globally even for the local companies left in the region.
Definitely a good time to be an entrepreneur. Then again, it’s always a good time to be an entrepreneur.