Finnish AI startup Inven raises €11.2 million in Series A funding. Led by Ventech and Vendep Capital, the funds aim for U.S. expansion and personnel growth. Inven targets inefficiencies in traditional deal sourcing using AI and has seen significant traction in private equity and investment banking, aiming to transform M&A processes.
Inven, a Finnish AI startup, has just snagged a hefty €11.2 million in Series A funding to fuel its innovative deal sourcing platform designed to uncover elusive opportunities in the global private market. The Helsinki-based company is all set to not only grow its workforce but expand its reach into the US market. It’s impressive, really.
The funding round was led by Ventech and Vendep Capital, both players in the European venture capital scene. Alongside these firms, notable angel investor Risto Siilasmaa, founder of F-Secure and a former chair at Nokia, pitched in, along with existing investors Lifeline Ventures and Joint Effects. The support from such names highlights the confidence in Inven’s potential.
Niilo Pirttijärvi, the CEO and Co-founder, expressed his enthusiasm, saying, “At Inven, we’re building the AI backbone of global deal sourcing. Deal sourcing has traditionally been labor-intensive and inefficient… AI is making the process faster… giving M&A professionals a true competitive edge.”
Founded just last year by ex-McKinsey and BCG consultants, Inven is tackling the complex problem of sourcing quality deals in private markets. Their platform, which holds proprietary data on over 21 million companies, is aimed at making this process ten times quicker for private equity firms, investment banks and consulting teams.
With the market becoming crowded and uncertain, traditional deal sourcing methods are falling behind – they’re manual, slow, and commoditized. Inven’s tech works overtime to continuously analyze its vast network of firms, responding to the rapid market changes. As Pirttijärvi puts it, “We’re building AI that transforms how high-velocity teams make better decisions.”
Tommi Kupiainen, Inven’s CPO and Co-founder, echoed this sentiment, highlighting the platform’s capability to cut through data clutter. “In fast-moving environments… They need systems that know what matters… That’s why we’re designing Inven as an intelligence layer that filters out noise,” he stated.
The focus here is on providing those in finance a true advantage, getting them quicker access to potential investments or market analysis. As highlighted by Tero Mennander from Ventech, Inven’s first-mover advantage in extracting AI-powered data could reshape the entire $12.6 billion M&A data market. He said, “Their undisputed first-mover advantage… positions them to transform the M&A data market.”
As they expand into global financial hubs, Inven’s rapid growth is noteworthy. They’ve already partnered with over 700 firms, including big names among Fortune 500 companies, and are boasting a staggering 670% year-over-year growth rate. With the newly secured funds, they’re eyeing to double or even triple their headcount over the next year and a half.
Venture investors are buzzing about Inven’s journey. Sami Ahvenniemi from Vendep Capital remarked, “Having followed Inven’s journey… Their trajectory so far has been nothing short of exceptional.” It seems this startup is on the verge of becoming a dominant force in private market deal sourcing.
Inven’s recent €11.2 million funding showcases its ambitions to revolutionize deal sourcing within private markets, a segment increasingly strained by traditional methods. With a robust foundation of AI technology, a dynamic team, and plans for growth in both headcount and market presence, they are well-positioned to change the landscape of merger and acquisition intel. The future is looking promising – for Inven and for those keeping an eye on market trends.
Original Source: www.eu-startups.com
