We’ve experienced fantastic growth over the last couple of years, leading us to raise six million in fresh capital. This funding allows us to continue our efforts in Norway, expand in Sweden, and launch a brand-new department in the UK!
In just over two years, we’ve grown from having 25 customers to 250. Our growth has been especially notable in Sweden, where we’ve gained well-known brands like Din Sko, Skopunkten, Indiska, Care of Carl, Scorett, and Sportshopen as clients. In Norway, we are the largest player in the market for customer and product reviews, as measured by revenue, with increasing numbers of the country’s leading brands—such as Ark, Skeidar, Jernia, Europris, Apotek 1, and The Body Shop—joining our client list.
After doubling our turnover two years in a row, we conducted an issue at the end of June and raised just over six million NOK in fresh capital. In a challenging fundraising climate, we are particularly pleased to have exceeded our target of NOK 5 million by raising an additional NOK 1.1 million. We look forward to investing these funds in sales and marketing and to developing new products and services.
The capital raised will primarily be used to expand our commercial team. To continue our pattern of doubling our turnover annually, we need more great people on our team and increased marketing efforts. We are currently recruiting salespeople in Sweden and are in the final phase of recruitment. We also plan to scale up our marketing activities in Sweden in the coming months.
On August 1st, we opened a new department north of London, in Peterborough, which is staffed by two extremely competent and experienced salespeople. They’ve achieved exceptional results in just their first month, booking over twenty sales meetings and securing two new clients. The future looks promising for Lipscore in the UK as well!