- SANITY ICONIQ UPDATE
- SANITY ICONIQ PLUS
- SANITY ICONIQ SERIES
TechCrunch reported its valuation to be just over $400 million, and the team now consists of about 150 staffers and 350 creatives, 500 in total. Superside is steaming ahead, having just raised $30 million from Prosus, Lugard Road and Slack Fund.Strawberry Equities sold its 10% stake to Schibsted in October ’21, valuing Tibber at around $400 million. 2021 numbers have not been released, but they will most certainly have been positively impacted by consumers switching to Tibber due to the record high electricity prices in Northern Europe towards the end of ’21. Tibber seems to continue its very strong growth.Valuation and metrics were not disclosed, but the team is growing fast and is now at around 80 employees.
SANITY ICONIQ SERIES
Sanity on the other hand, raised a $39 million Series B in June ’21 with ICONIQ Growth coming in as new lead investor. 2021 numbers are not out yet, but my guess is that reMarkable has kept growing very fast, although maybe not at the same rate as between 20 (3.3x increase in revenue). reMarkable has not raised since Spark Capital led a round in 2019, probably because the company continues to be cash-flow positive (as in 2020). It will be really interesting to watch PortalOne over the coming quarters as the service is properly launched. The valuation was not disclosed, but is rumored to be around $350 million. PortalOne just announced a $60 million round led by Tiger Global. Neat really timed their October ’19 launch very well… Neat also seems to be steaming ahead, buoyed by the pandemic and with Zoom’s $30 million investment in September ’21 at a $640 million valuation. Boost.ai was just selected for Gartner’s first Magic Quadrant for Enterprise Conversational AI Platforms. Boost.ai is performing well with Nordic Capital as new lead investor. How about the other companies on my “Norway’s next unicorns” list? In addition to Easee, last time around they were Boost.ai, Neat, PortalOne, reMarkable, Sanity, Tibber, Superside and Whereby. Zaptec recorded 2021 revenues of $55 million with an EBITDA of $10 million. So far the company has not received an official unicorn stamp, but with turnover of $160 million in 2021 and EBITDA around $55 million, a priced round would with all likelihood make Easee a unicorn. Just like Dune, Easee was started in 2018. Most notable is Easee which delivers intelligent chargers for EVs. There are other impressive growth stories happening in Norway at the moment too. SANITY ICONIQ PLUS
I had made a note of including them after Union Square Ventures led Dune’s $8 million A-round in September ’21 plus SoMe signals of very strong growth, but Fredrik Haga and Mats Olsen moved too fast! The $69 million B-round lead by Coatue comes not long after the A-round. In fact, so fast that I did not include them in my list of potential next unicorns in my June ’21 update, 8 months ago. What an achievement by founders Henrik Müller-Hansen, Pål Næss and team!ĭune was established in September 2018, and spent less than four years becoming a unicorn, the quickest so far in Norway. Gelato was incorporated in 2007 and is thus pushing the strictest of unicorn definitions, but I have included them in my list below. Gelato crossed the line in August last year (’21) and Dune two weeks ago (February ‘22).
SANITY ICONIQ UPDATE
New entrants since my last update are Gelato and Dune Analytics.
It’s time to update the list of Norwegian unicorns.
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