eEquity, a Swedish investor in digital growth, has co-led an investment of 90 MSEK in Mediatool. Mediatool has developed a cutting-edge media management platform tailored for global brands and media agencies. Founded in 2015 by Alexander Högman and three co-founders, Mediatool addresses a critical gap in the market by revolutionizing how media investments are planned, tracked, and managed.
Alexander Högman, co-founder and CEO of Mediatool, shared his inspiration behind the platform’s creation, “As a former Media Director for Renault in the Nordics, I was constantly frustrated by the lack of tools to effectively plan and monitor media investments. This frustration led me to take action. With the support of my co-founders, who possess deep tech and product expertise, we crafted a modern and secure SaaS solution with the mission to provide CMOs with the comfort and control they need over media investments across all channels.”
Traditionally, while payroll, supply chain, and sales costs are efficiently managed through sophisticated ERP systems, media spend has been predominantly tracked in spreadsheets although it is generally one of the most cost-heavy items in the P&L. This is particularly true for large global advertisers, who otherwise rely on a robust IT infrastructure.
Jessica Mattson, Deal Partner for eEquity’s investment in Mediatool, highlighted the current status of the industry: “During our due diligence, we conducted interviews with several US-based retail giants, only to discover that they manage billions of dollars in media spend using primarily spreadsheets. Mediatool’s innovative solution addresses this glaring need.”
She further emphasized, “The market for a modern, flexible, and reliable SaaS Media Management solution is essentially uncharted territory, and we are excited to have found Mediatool to tap into this blue ocean.”
Headquartered in Stockholm and with an office in Malmö, Mediatool boasts a team of around 40 employees and currently reports an ARR of approximately 4 million USD. With an already substantial share of its customer base located in the United States, Mediatool is now gearing up to establish a New York office to supercharge its global expansion. This expansion aligns with the infusion of funds from eEquity’s recent investment round.
Jessica Mattson reflected on the company’s prospects, “We recognized a solid product/market fit, especially with the undisclosed global brands that Mediatool signed in Q3 this year and a promising pipeline for the upcoming quarters. Mediatool holds immense potential to become a global leader in this space.”
eEquity’s investment in Mediatool is jointly led by VC fund Fairpoint Capital. Other stakeholders in Mediatool include venture capital firms J12 and Newion, Almi Invest, and the original founders, who will retain a significant ownership stake as they continue their journey.
For further information or media inquiries, please contact:
Jessica Mattsson
Deal Partner
+46 70 796 14 01
Eric Matsgård
SaaS Advisor
+46 708 22 45 09
About eEquity:
eEquity invests in fast-growing, digitally enabled businesses across the Nordics and Northern Europe. Since 2010, we have led investments of over EUR 400m in companies such as PriceRunner, CHIMI, Gordon, iDeal of Sweden, Aim’n, and Royal Design. eEquity’s active investment strategy is built around an entrepreneurial mindset and close partnerships with our portfolio companies. Read more about eEquity at www.eequity.se.
About Mediatool:
Mediatool is a Swedish-based SaaS company founded in 2015, offering a state-of-the-art media management platform to empower large advertisers in planning, tracking, and managing media investments. Led by CEO Alexander Högman, the company is on a mission to redefine media management for the modern age. Read more about Mediatool at www.mediatool.se.
