The money will be invested in AI research and development as well as quantitative and qualitative data. The company also plans to expand in the U.S.
Founded in 2019, TheyDo offers a platform for “journey management”. This includes mapping customer activities, such as a customer’s concerns about data to share with the company. “With TheyDo businesses are able to do journey strategy, planning and execution all in one place,” the company said.
Now the company has raised $34 million, which translates to about €31 million euros. In December 2022, the company secured an investment of €12 million. This brings the total investment in the Amsterdam-based TheyDo to just under $50 million.
Blossom Capital, Arches Capital, and Innovation Quarter are leading the new capital. New investors, including Steven van Belleghem, Highsage Ventures, and 20Sales, have also joined.
“Since our initial investment, there’s been very clear acceleration in market demand by large enterprises. TheyDo has pioneered this category and its product only compounds in value as they are fast adding new features. Given the clear opportunity ahead, we were keen to double down on our investment and continue supporting the team in their ambitious plans,” responded Ophelia Brown of Blossom Capital.
Expand
With the money, TheyDo plans to enhance its platform by focusing on AI and integrating quantitative and qualitative data. This will be achieved partly by expanding its global workforce of 70 employees to 100 this year. This will include a focus on expansion in the Americas, where the company sees opportunities to continue growth.
Tip: ASML stays in the Netherlands, but may continue expansion abroad
1 day ago
