The platform connecting companies to marketing, communication and digital agencies has just completed a €2 million fundraising campaign with Sambrinvest and 3 business angels.
Already a leader on the French, Belgian, Dutch and Spanish markets, Sortlist aims, thanks to the funds collected, to become European leader by the end of 2020.
Through the world's largest database of agencies and projects, the startup has built its success on a unique matching technology, boosted by artificial intelligence. Sortlist plans to double its product and IT teams to make innovation a driver of its growth.
Brussels, February 7th, 2019
Launched in 2014, the startup has developed an online platform that allows companies of all sizes and sectors around the world to easily find the right marketing, communication or digital agency to meet their needs. Beyond its simplicity and time saving aspect, the platform is a source of agility and productivity for all its customers. In addition, it allows thousands of independent agencies and experts to take part in calls for tenders - particularly those of large groups - from which they were previously often excluded.
Sustained growth and a scalable model
After only 5 years of existence, Sortlist has achieved particularly encouraging results. Already physically established in Belgium (HQ), France and Spain, the startup can boast of having quickly achieved balance and being profitable today. From 26 to 42 employees in 2018, the company has seen more than 11,000 qualified projects proposed on its platform, for a total budget of 162 million euros.
Designed natively as a global platform, Sortlist is already accessible worldwide and available in 5 languages. It therefore offers all the guarantees of a scalable model. The €2 million raised will enable the company to consolidate its leading position in its three traditional markets and, at the same time, accelerate its development in Europe.
"Since the end of 2018, a dedicated team has been developing the Dutch market. It will be Germany's turn in the first half of 2019, and Italy's at the end of the year," says Nicolas Finet, co-founder of Sortlist, in charge of marketing and strategy. "2020 will be the year we enter the British market”.
At the same time, Sortlist's co-founders intend to take advantage of this fundraising opportunity to strengthen their teams, particularly in product and IT. "The emergence of Sortlist being European leader stands on our capability to innovate and meet the needs of our customers, companies and agencies.” insists Nicolas Finet. 10 new employees (UX, artificial intelligence, etc.) should join the company soon.
Smart money to support growth
To accelerate its development, Sortlist has chosen to use the smart money of Sambrinvest and 3 business angels, successful Belgian entrepreneurs including Mike Vandenhooft (Newpharma) and François Van Uffelen (Babelway).
Thibaut Vanderhofstadt, co-founder and CEO of Sortlist, said: "This fundraising will enable us to boost our development in Europe and establish ourselves as the undisputed leader in our market. The investors we have chosen to support us all have an entrepreneurial background that will prove invaluable in meeting the many challenges ahead.
Olivier Mertens, Investment Manager at Sambrinvest, said: "Investing in Sortlist is a great opportunity for a fund like ours. The company has experienced intense and uninterrupted growth since its launch, is in balance and, above all, is built on a model that can be industrialised and replicated throughout the world”.
A scalability that will be an asset in the future to conquer the American and Asian markets.