It’s been a big week in European B2B SaaS, with five companies in this sector dominating European funding in the last 7 days.
London-based Qubit raised $40m (€36.2m) in a Series C led by Goldman Sachs, also including key players like Salesforce Ventures and Accel. The startup was founded in 2010 by four former Google employees, and provides a big-data analytics platform which, they say, could massively facilitate online selling. Qubit customers include the likes of TopShop, Jimmy Choo, and John Lewes, and the investment will mainly be used to expand the engineering team.
Another company that caught our attention was Intelligent Fingerprinting, simply because of the “Wow, is that really possible?” effect. The company is developing a scanner that can test for a variety of drugs, including amphetamine, cocaine, marijuana and more, just by taking a fingerprint. They call this testing “non-invasive”, which we’ll let you judge. Either way, they raised $3m (€2.8m), bringing our valuation estimate to $20m (€17.9m).
Combining scanning and marketing, Austrian Anyline has created a very different kind of scanner. Their video-processing and text-recognition software can be used in apps or marketing with smartphones. As an example, Red Bull has used the service allowing customers to use the camera on their smartphones to scan codes on Red Bull products and receive loyalty rewards. Having Red Bull as a customer is quite impressive, seeing as they just raised $1.7m (€1.5m) in their second seed round.
As the last pick this week, the next one isn’t a tech company. They caught our attention not just because of their creative use of abbreviations that could make any teenager proud, but because they are trying to disrupt a genuinely overpriced fitness market. Xercise4Less just raised $10.8m (€9.8m) to power their rapidly-expanding UK market share. Their ambition is to provide a budget-friendly alternative to gyms. That’s something we can support, so hope the extra liquidity will be put to good use.
We hope they will also use it to give the copywriter behind these a raise:
Without these terrible puns and abbreviations, we doubt they’ll ever make people join their gyms, or?
That’s all folks, have a great weekend, and make sure to keep an eye on our blog in the following weeks. We’re pushing out lots of great infographics about the last year in funding.