Amsterdam-headquartered branding automation business Bynder nets $22M, led by Insight Venture
Bynder, the branding automation company, has announced $22m in Series A funding from Insight Venture Partners, a New York-based venture capital and private equity firm.
The funding is a milestone for the ‘branding automation’ category as marketers seek a solution to deliver brand consistency across all channels and international markets at the touch of a button. The capital will be used to continue international growth and to support further product development enabling brands globally to easily create, find and use digital content. Jeff Horing, managing director at Insight Venture Partners will join the company’s Board of Directors.
Global brands are experiencing exponential demand for more content, across increasingly automated channels in order to meet business goals.Research shows that 50% of marketers have more digital content than they can effectively manage at the moment, and over half (53%) spend more time on the operational details of managing content, rather than aligning their daily tactics to business strategy.
Bynder develops marketing software that empowers marketers to easily create, find and use their content. Through an intuitive, customised online portal, marketing departments and their agencies are able to collaborate from any location, anytime in order to create, design, share and approve collateral, as well as reshape graphics and videos. In addition, Bynder’s solution is a trusted and secure host for intellectual property.
Chris Hall, Founder and CEO of Bynder comments, “What Salesforce did for sales tech, Bynder can do for brands. The cloud is allowing marketers to work faster and smarter, freeing up time for creative and strategic initiatives instead of repetitive administrative tasks. Branding automation lets marketers respond to real-time issues because there is a foundation for brand materials, which is accessible and consistent across the business. This new category of Mar-Tech will be a game changer for any brand.”
With headquarters in Amsterdam, the platform services over 150,000 users across more than 350 brands around the globe including KLM Royal Dutch Airlines, Logitech and AkzoNobel. Recently, the company has seen increased innovation in product development and has doubled its headcount for its research and development and customer success teams. Overall staff levels have increased from 1 to 200 in just three years. In June, Bynder announced its newest office in Dubai to support continued growth within the Middle East and its growing customer base in the region.
Hall adds, “Starting out as a small European business, we had to concentrate on the fundamentals: developing a great product; looking after our people; and running a tight ship. There’s a shifting tide in investment towards rewarding closely managed businesses and there’s no doubt that’s been our focus from the outset. We can now use this investment to accelerate profitable growth”.
Bynder is a clear innovator in the branding automation market,” said Jeff Horing, Managing Director, Insight Venture Partners. “We share their vision for comprehensive brand management technology that enables teams to seamlessly communicate as they create content. We are pleased to partner with Bynder’s executive leadership team in this new phase of growth”.
Source : Bynder Press Release