Finnish online analytics firm Verto unveiled on Wednesday a $16.1 million Series B funding round – one of the largest this year in Finland – and said it would use the funding to scale its services globally within the digital media, mobile app and gaming, adtech and Internet sectors.
The financing round was led by newly-founded EQT Ventures, with also Conor Venture Partners, Open Ocean Capital, Vision+, Finnish Industry Investment, and additional angel investors participating.
Launched in 2013, Verto Analytics provides single-source audience measurement solutions for monitoring the complex behaviour of today’s consumer on every device, app and platform they use throughout the day. An average digital consumer uses three to four devices to access digital content across multiple platforms and services within a 24-hour period.
“Verto has deep expertise in cross-device audience measurement, and provides the most compelling solution for publishers, brands, and advertisers to more effectively measure today’s consumer,” Henrik Landgren, Partner at EQT Ventures, said in a statement. Verto has now raised a total of $23.9 million.
Verto’s customers include industry giants like Microsoft, EA, Cisco and Yahoo.
“We founded the company after a meeting with Facebook 4 years ago, as they claimed that they cannot run their business without adequate 3rd party measurement data that provides audience data for mobile and cross-device online consumption, with the same model as Nielsen did for TV and ComScore for PC,” Hannu Verkasalo, Founder and CEO of Verto Analytics, told ArcticStartup.
“They basically did not know how Facebook was doing against the competition within mobile, at that time. I have been proud to witness our strong Finland-based team putting the best skills and innovation into the game to make this happen, and our growth over the past 12 months is a testament that Nordic companies can rise to a global fame in the media and advertising industries with the right execution and funding,” he said.