Sotrender – Polish service provider of social media analytics – will get 1.6 mln PLN (ca. 400k EUR) investment for international expansion.
Jan Zając, company’s founder and CEO, and his team decided to partner with Inovo VC backed by Polish entrepreneurs Maciej Duda, Rafał Brzoska and the National Capital Fund. As Jan reports in a blog post, the capital raising was a long and difficult process. The team have met with about 100 VCs in Poland and abroad in the past 2 years. In the meantime Sotrender kept on growing. The company broke even, then reached positive cashflow and eventually posted 1 mln USD revenue.
Currently the growth strategy is focused on inbound marketing sales .
“Excellent sales result have increased the valuation of the company. In the meantime we have also validated our vision, growth strategy and understanding of markets where we want to take on competition. Honestly speaking, only in the recent months I have a feeling that we know what and how to continue. Does this mean we are not a startup anymore?”– Jan sums up in the announcement.