Frontify Raises $22.3 Million Led by EQT Ventures
Frontify looks to accelerate growth and development of the brand management platform while expanding its worldwide reach with Series B funding.
New York, USA and St. Gallen, Switzerland, January 28, 2020 – Brand management platform Frontify has raised a $22.3 million Series B funding round led by the EQT Ventures fund (“EQT Ventures”) with participation from existing investors, including Blossom Capital, Datartis Ventures and Thomas Dübendorfer, Tenderloin Ventures, and Myke Näf. The funding will be used for global expansion, particularly across North America and Europe, alongside continued product innovation in the company’s movement to trailblaze the brand management category; an increasingly critical tool for building long-term business and brand value.
Brands need to engage their audience and build trust. As customers become savvier and more discerning, a brand must exceed expectations. It has to evolve and stay relevant, all the time appealing to its audience. Managing your brand means investing in your company’s value and ultimately, its selling power. Frontify is the most user-friendly, comprehensive brand management platform – enabling its customers to maximize their brand’s consistency, efficiency, and involvement through centralization.
Over 2,500 companies around the world are successfully strengthening their brands with Frontify today, including Facebook, Dyson, Centrica, Lufthansa, Vodafone, and Allianz. Frontify’s scalable and customizable solutions are able to meet the specific, individual needs of businesses ranging in size, industry, and market; from freelancers to multinational corporations.
“With a rapidly growing worldwide customer base, we continue to see validation in our platform and the niche we’ve established in the market. We’ve been fortunate to work with some amazing investors thus far that really believe in what we’ve been creating. That momentum has put us on the edge of something really exciting. With the collective knowledge and passion of EQT Ventures, especially Ted Persson, we’re confident in taking Frontify to that next stage,” said Frontify Founder and CEO, Roger Dudler. “Increasing our footprint across Europe, cracking the code to the US market, continuing to innovate on our product and shaping brand on an even deeper level than before; these are the kind of initiatives we forecast championing together.”
Since 2013, the platform has grown from a simple guideline product to a fully-featured brand management solution; well beyond the standard tool categories of digital asset management (“DAM”), marketing automation, design system, or a brand portal alone. With an emphasis on cross-disciplinary functionality – typical users include brand, marketing, design, developer, and communications professionals – Frontify is a true standout and must-have business tool.
While creating a best-in-class software, Frontify has nurtured a rich, internal culture that balances a tech mindset with a human touch. This has shaped the company’s perspective on expansion, product diversification, and partnership opportunities to date, most recently with the $8.3 million Series A funding in the fall of 2018 led by Blossom Capital.
The approach for finding that just-right partner fit, one that shares similar philosophies and outlook of Frontify, holds true with EQT Ventures. Even from the initial discussions with EQT Ventures, Frontify’s leadership saw synergy across a number of key factors including a shared appreciation for brand authenticity and company culture, growth strategy expertise across US and European markets, and undeniable enthusiasm for the business potential of Frontify.
"Before joining EQT Ventures, I worked for some of the world's leading brands with digital product development and marketing,” said Ted Persson, operating partner and investment advisor at EQT Ventures. “I experienced firsthand the increasing number of tools emerging in the marketing and product development space, but for some reason, the coordination of brand assets remained a real challenge. People would still insist on sending around outdated PDFs, Illustrator files, and fonts. The Frontify team has built a delightful product, enabling everyone to access the most up-to-date brand assets as and when they need to, and the company already has a stellar customer base. The EQT Ventures team is looking forward to joining Frontify on its journey!”
Frontify will further invest in its own brand value as it strengthens positioning as a global leader in brand management. In continuing the company's growth trajectory and traction with a wide scope of brands, Frontify’s dedication to a powerful product remains the focus – propelling the strategy and evolution of new and expanded offerings of Frontify into the future.
Curious to learn more about our platform? Sign up for the Introduction to Frontify webinar happening on February 6 for a glimpse of the full product suite, alongside how and why some of the world's best brands use Frontify.