In an exciting development, Kraków-based edrone, a leading developer and marketer of Marketing Automation and CRM systems designed for e-commerce, has successfully secured $5 million in venture capital funds. This round of funding was led by INventures, along with participation from Mueller Medien, Atmos, and PortfoLion. The total investment of PLN 20 million ($5M) reflects the confidence these investors have in edrone’s growth and potential. The company, currently valued at PLN 120 million ($30M), plans to utilize these funds to expand its presence in the Latin American (LatAm) markets, particularly Brazil, and further enhance its product offerings.
Funding Details and Valuation
The funding round, spearheaded by INventures, not only injected fresh capital of over PLN 10 million but also saw the conversion of debt capital into shares by other participating funds. This successful investment comes on the heels of edrone’s impressive financial performance, with an almost $7 million Annual Recurring Revenue (ARR) and a valuation of PLN 120 million. The decision to increase its headcount in Brazil demonstrates the company’s commitment to strengthening its operations in the region.
International Growth and Market Expansion
Having doubled its Brazilian revenue in 2023, edrone aims to leverage the newly acquired funds to further expand its operations in the country. The focus is not only on increasing market share but also on enhancing business processes in Poland. Michał Blak, Co-Founder and CEO of edrone, expressed enthusiasm about the company’s growth trajectory, stating that the investment would help improve business processes and optimize marketing automation through Artificial Intelligence.
INventures’ Vote of Confidence
INventures, a Poznań-based independent investment firm specializing in long-term business support, led the funding round. Katarzyna Dąbrowska, CEO of INventures, highlighted edrone’s effective management, emphasizing the delegation of responsibility and recruitment of exceptional talent as key factors that set the company apart. This endorsement from a seasoned investor underscores the strength of edrone’s leadership and strategic vision.
Investing in People and Culture
With a focus on organizational culture, edrone plans to use the funds to expand its team, aiming to hire an additional 70 employees in 2024. Michał Blak emphasized the importance of creating a workplace culture that inspires the best SaaS companies in Europe and Latin America. The commitment to managing employees with context and values aligns with the company’s goal of fostering initiative and responsiveness to market needs.
Product Development and Innovation
edrone’s Marketing Automation and CRM system is currently used by nearly 2000 online stores, primarily in Poland and Brazil. The new funds will be instrumental in further developing the product and scaling up the dedicated team. Maciej Mendrela, CTO of edrone, highlighted the continuous efforts to build a sustainable technological advantage, including the introduction of features based on Generative AI. The focus on research and development positions edrone as a frontrunner in leveraging cutting-edge technologies to support its customers effectively.
Expert Management Board and Advisory Support
The edrone Management Board, led by Co-Founders Michał Blak and Maciej Serafin, is now strengthened by experienced professionals on the Supervisory Board. Notable additions include Katarzyna Dąbrowska, President of INventures, and Sami Moughrabie, Founder and Managing Partner of ATMOS Ventures, specializing in AI, Quantum Technologies, and Sustainability. These industry experts will contribute strategic guidance, investment strategy, and technological insights to propel edrone’s growth.
Existing Investors’ Continued Commitment
The fact that existing investors participated in the latest funding round underscores their satisfaction with edrone’s achievements and the consistent implementation of the company’s strategy. Despite the new capital injection, the founders Michal Blak and Rahim Blak retain control of the company, maintaining a 60% ownership stake and playing vital roles in the decision-making process.
Hangout Session with Michał Blak, CEO of edrone
Join us to celebrate the success of edrone’s recent financial round! We invite you to our next Hangout session during which Michał Blak, the CEO of edrone, will share his insights about the fundraising process.
Learn more about the event and register here.
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