Turtl secures $17m in Series A funding round
Content automation platform Turtl today announces that it has raised $17m in Series A funding from leading European venture firm Octopus Ventures.
Headquartered and founded in London, with offices in Boston, the investment comes off the back of 70% revenue growth in the last 12 months with almost no cash burn, the development of a sizable US footprint (60% of Turtl’s current revenue) and multiple internationally recognised enterprise customer wins.
With a focus on the B2B enterprise market, the company’s global client base is spread across a range of sectors, including automotive, FMCG, finance, technology, professional services, retail, insurance, and big data.
With just 10% of staff based in the US to date, Turtl has grown the US business to account for 60% of revenue. Led by an experienced senior team including former Experian, and Cisco executives, Turtl’s US team is set to expand and build on this record growth in the market.
With 70% of B2B marketers citing a planned increase in spend on content creation in 2021 and US clients including Cisco (Fortune 500) and Nestlé Professional, the funding will enable Turtl to continue building on its existing momentum in the US market.
Commenting on the raise, Nick Mason, Co-Founder & CEO of Turtl said: “This is a huge milestone in the evolution of Turtl. Content automation platforms need to be accessible and easy to use across an organisation – from marketing to sales, and communications to recruitment -with non-designers having the power to make design-quality content.
“Our mission is to ensure enterprise content is timely, relevant and engaging for all – and this funding is crucial for us to progress to the next stage of that journey.”
Uthish Ranjan, Principal at Octopus Ventures said: “The ability to rapidly create engaging content has become critical to the way enterprise B2B organisations win and retain customers. However, this can often prove very time-consuming, especially within large and complex organisations.
“Turtl’s leading content automation technology sets out to solve this problem, enabling businesses to rapidly deliver such engaging business materials at scale, offering huge time savings.
“Nick and the team are relentlessly focused on pushing the boundaries of automation and personalisation to new and exciting levels, supported by impressive growth and an exceptional management team. We look forward to working with Turtl on their journey to becoming the category leader in content automation.”