Walkbase raises 3 million euro through Russian investment

Russian SBT Venture Capital invests €3 million into Turku-based start-up Walkbase.

Walkbase, the marketing optimisation platform for brick & mortar retailers, raised €3 million from Russian SBT Venture Capital, the company announced on November 12.

These encounters have also led to new customers in Russia. In the year that has passed, Walkbase has gotten very familiar with the red-eye to Moscow. And the experiences have been fantastic, according to Tuomas, who has an immense respect for the straight-forward, no-nonsense approach to negotiations in Russia –  “investors are tough to negotiate with but you can also be tough back”.

Mircea Mihaescu, Partner at SBT Venture Capital, stated: “After a thorough analysis of the field at Sberbank, we have selected Walkbase as the most promising platform for marketing optimisation in offline retail. In connection, SBT Venture Capital and Walkbase have agreed on the closing of a €3M Series A round of financing.”

“In addition to the investment, we plan to adopt this technology at Sberbank across our 18,000 retail branches,” he added.

Walkbase will invest the funds in strengthening its sales, marketing and customer-insight teams, as well as accelerating its growth strategy to become the leading marketing optimisation platform for omni-channel retail in EMEA and Russia.

Walkbase, which was founded in 2010, has developed a platform to measure, understand and optimise the omni-channel customer journey, where smartphone-enabled shoppers jump between online and offline channels while they search, research, and purchase products.

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