Growblocks, a Copenhagen, Denmark-based software startup that helps businesses unlock their revenue potential through improved data insights and forecasting, secured €6 million in seed funding.
The round was led by Project A Ventures, with participation from Headline.`Angel investors include Ulrik Bo Larsen (founder of Falcon.io and Toni, Olafur, and Andrew’s former boss), Dave Kellogg, Chris Schagen (Contentful), and Pieterjan Bouten (Showpad) also participated in the round.
With this new funding, the startup will be able to continue growing and help more teams plan and execute revenue potential.
Toni Hohlbein, CEO and co-founder of Growblocks: “Revenue planning and execution are completely broken in today’s B2B Software-as-a-Service (SaaS). Companies often focus on their top-down targets and rationalize their decisions based on assumptions and goals rather than real data. We can all see the consequences of this every other day in the news when a new round of layoffs is announced.”
Growblocks’ platform offers a solution to what the founders see as a broken approach to revenue planning – one that is data-driven and more accurate.
The platform can be used by commercial teams to create predictable revenue plans, conduct quarterly business reviews, and track performance against targets and initiatives.
Its platform can also be useful to sales, marketing, and customer success teams to check budget achievability, build project and hiring scenarios to support the revenue target, adjust resource allocation to optimize, and improve customer acquisition cost payback.
Company: Growblocks ApS
Raised: €6.0M
Round: Seed Round
Funding Month: February 2023
Lead Investors: Project A Ventures
Additional Investors: Headline, Ulrik Bo Larsen, Dave Kellogg, Chris Schagen,and Pieterjan Bouten
Company Website: https://growblocks.com/
Software Category: Revenue-Planning Software
About the Company: Founded in 2021, Growblocks is a B2B SaaS company that aims to help companies unlock their revenue potential. Growblocks’ platform offers a solution to what the founders see as a broken approach to revenue planning – one that is data-driven and more accurate. It helps B2B scale-ups build predictable revenue growth in a collaborative, data-driven, and actionable way. Its platform puts a company’s real-time data funnel to work to create a robust bottom-up revenue plan – taking a completely new approach to the existing top-down approach.
Source: https://www.eu-startups.com/2023/02/growblocks-bags-e6-million-to-help-companies-unlock-their-revenue-potential/