Funding

We've just closed our biggest funding round to date at a company valuation of $22.5 million!

Cloapp, the company developing the sales- and relationship management app Closr, just closed a post-seed round of an unspecified amount at a valuation of $22.5 million. The new funds comes mainly from the current investors.

The additional funding follows the strong belief in the company's new b2b product "Closr Dashboard" (formerly referred to as "Closr for Business"), a subscription based web service that ties together teams of users using the Closr app and lets managers and team leaders set up goals and gamificate their sales.

The Closr app itself has already had a rapid growth among productivity app users in both Sweden, Germany and US during the last nine months, and are also starting to generate premium users. At the same time the company has been busy signing up big companies for the new Closr Dashboard and can already boast one of Swedens biggest banks, as well as a big real estate portal as vital pioneer customers, and there are many more in the process getting on-boarded already.

"With Closr Dashboard you get a visual overview of your sales people and all their activities. You can then set your own goals, have sales competitions and coach your team to greater sales - while also having fun together!"

Alex Lewerentz, CEO & founder at Cloapp

The Closr Dashboard has been the main project at Cloapp since they strenghtened the team with new CTO Rikard Askelöf, former Rebtel and Genifejden and Board member Fredrik Saatchi, former Regional Vice President (Northern Europe) at Salesforce CRM/Exact Target at the end of last year.

The Closr Dashboard will be open for teams to join in April 2017.

Cloapp founders buys out external investor backed by IMOG Holding

connect-with-people-2_imageonly.png

Cloapp co-founder and CEO Alex Lewerentz, together with shareholders Arnosa Trade & Invest and IMOG Holding has today announced the buy-out of investors Benitez Holding. 

Benitez Holding was the first external investor in Cloapp in April 2015 and previous to this date they controlled 27,4% of the company shares. According to Lewerentz it's generally hard for startups to secure smart money in the first round, and that could potentially have been a problem in future money rounds which he feels they now have solved for Cloapp going forward.

"We are really grateful for them [Benitez Holding] believing in us at such an early stage, and we thank them for helping us kick-start our plans with Closr. We now had the opportunity to offer them a very good exit and we all agreed it was the right time to do this before our next round later this year"

Alex Lewerentz, CEO

The Swedish company just had a successful launch of their app Closr in Germany where they occupied the App Store Productivity chart for some time, peaking at number four. The plan now is to multiply that formula and go for the US market.

"Germany was a good test-market. We already have a solid group of ambassadeurs and early adopters in the US, as well as some familiar faces that will definitely help us grow. It will be interesting to see what impact we can make on people's lives when it comes to improving their relations and networking"

Alex Lewerentz, CEO

"The goal last year for Closr was to get people to use the app to improve their existing relations. This year it's all about giving these people powerful networking tools to connect and interact with new people they meet"

Alex Lewerentz, CEO

The networking part of the app is also a completely new revenue stream that the company is currently working on.

With the ability to sell networking locations all over the world where people can meet and interact with other users, chat, exchange business cards, set up meetings, make introductions and find opportunities, Cloapp CMO Peter Eriksson aims to start making money already this year.

"The US market is definitely the key for us to hit our aggressive goals. We were at the Northside Festival on the east coast last year and at SxSW earlier this year. We just did the first virtual networking tests at Collision last week, and are going to TechCrunch NY next week. At big festival events like these, Closr is the perfect app! We just need to help people understand that"

Peter Eriksson, CMO