TwentyThree Scoops $2.5 Million Credit Facility for Further Expansion

TwentyThree Scoops $2.5 Million Credit Facility; Plans to Further Expand Its 800% YoY Growth in the US

Sudipto Ghosh

March 14, 2018

New Funding Will Allow TwentyThree to Further Their Growth and Ambition into the US to Bring Video Marketing Platforms to All Marketers

TwentyThree, a leading Video Marketing Platform, has announced that it has raised a $2.5 million credit facility. As an organically grown European SaaS company, TwentyThree has 40+ employees, a 13,000 square foot office in Copenhagen, recently opened an office in San Francisco, is challenging North American competitors, partnered and integrated with market-leaders such as HubSpot, and seen rapid market adoption since its breakthrough video marketing platform launched in 2016.

The world’s best marketers need a video marketing platform to make better-informed decisions about video across the entire marketing funnel.

At the time of this announcement, TwentyThree CEO and Founder, Thomas Madsen-Mygdal, said, “This funding will allow us to further our growth and ambition to bring video marketing platforms to all marketers. I am frequently asked about what funding stage we are in, and I often flip the question to how sustainable our business is.”

Thomas added, “For me, it is about building a long-term business that focuses on its customers and employees.”

Video marketing platforms are seeing adoption in 2018, but overall, still, trail compared to other MarTech categories. TwentyThree aims to change that – as the only European video marketing platform – by offering a product that empowers marketers to analyze video beyond vanity metrics, integrate with their existing tech stack, run video across every social platform, and generate leads with video.

“As a serial entrepreneur, I look at the current tech industry, which is full of young talent, and I do think it is an important relay the message that founders can build a business organically to fit the market you’re serving,” added Thomas, who previous to TwentyThree, built and sold collaboration platform Podio to Citrix. “We believe it’s important to showcase this type of growth, that there is a different way.”

Currently, TwentyThree’s platform is used by hundreds of marketing teams and enterprise companies around the world, and in the past year alone, has hosted 1.5 million videos, measured 1.7 billion impressions, and tracked 650 million video plays.

The credit facility was raised from a European growth fund and European bank. The facility will enable TwentyThree to expand in the U.S market, hire top-talent, and continue to build the best product for its customers.