In the past year 500 Startups has been expanding our efforts in the Nordics with the goal of bringing Silicon Valley best practices to the region and to help early stage startups grow faster. During this time we have made 27 investments into promising Nordic startups and helped them grow and raise capital. Our focus has been on companies doing e-commerce, marketplaces, SaaS, fintech as well as mobile and AI technologies. We have run two investment programs in the region, one focused on early-stage companies in Oslo, as well as a growth marketing program in Stockholm. We’ve also brought seven of these companies back to Silicon Valley to participate in our accelerator programs.
Some of our Nordic investments include:
- IRIS AI – An artificial intelligence application that recently raised a $350K seed round after attending our Oslo program. They’re already generating significant revenue and in our humble opinion are one of the strongest teams in the entire region.
- Timely – A SaaS time tracking solution. They recently closed $1M in seed funding and after attending our growth marketing program in Stockholm are now growing revenue 30% month-over-month.
- Flic – The wireless smart button with an impressive six figures in monthly sales also recently attended our Stockholm program. Here they were able to improve their web sales and raise additional funding to support growth.
- Villoid – A mobile shopping app company from Norway recently graduated from our Silicon Valley accelerator program. They have over 650 brands on the platform and continuing to grow.
Last year we announced plans for a regional microfund focused on the Nordics led by myself, Sean Percival. And after working with 500 Startups for three years and investing in over 120 companies, I will be moving on to new adventures — but not Valhalla just yet!
500 is now looking to hire a new investment manager to lead our Nordic efforts with experience in fundraising as well as in finding, investing, and growing promising startups. If you’re interested and want to tell us more about why you’re the right for the job, reach out here. If you’re based in Stockholm you can also speak with Dave McClure or me at the upcoming STHLM Tech Fest in Stockholm on Sept 5th.
Lastly, if you’re an accredited investor please join us September 4th for Stockholm Demo Day as we feature our most recent and awesome Nordic companies, including those who recently took part in our Distro Dojo marketing accelerator. They’re ready to show off new growth metrics as they prepare to raise Series A rounds. To request an invite please email firstname.lastname@example.org.
For further updates on 500 Startups in the Nordics and silly knock-knock jokes about Vikings, please follow @500Nordics and @500Startups on Twitter.