In the US, market intelligence platform Tegus has raised $90m in a Series B round of funding, which it will use to expand to Europe, broaden its data offering, and accelerate the development of its product suite. The firm says it plans to hire more than 400 new employees next year.
Founded in 2017 by twin brothers Michael and Thomas Elnick, Tegus conducts research and collects data for a primary information platform through which it says clients can discover answers to their 'most challenging questions'. Company headcount has grown from 115 employees last year to over 300 today, with plans to recruit 400 more across sales, product and engineering.
New funding has been led by Oberndorf Enterprises and Willoughby Capital. Tegus will use part of the investment to open an office in Waterford, Ireland, and will hire 100 new employees in Europe. Michael Elnick comments: 'Today's announcement reflects the strength of our business, the enormous customer demand for our products and the incredible opportunity ahead. Our investor base is unique in that all of them have been Tegus customers for many years. We feel fortunate that our largest investors are also daily users of our product, and we are excited to partner with Oberndorf and Willoughby to draw on their experience building differentiated companies for the very long-term'.
Web site: www.tegus.co .
All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.