London-based B2G (business-to-government) startup, Stotles has raised €1.5M in a funding round held in October 2020, led by Speedinvest. The round also included participation from 7Percent Ventures, FJLabs, and multiple prominent angels such as Matt Robinson (co-founder of GoCardless and CEO at Nested), Carlos Gonzalez-Cadenas (COO, Go-Cardless), Charlie Songhurst (former Head of Corporate Strategy at Microsoft), Will Neale (founder of Graby), and Akhil Paul.
Capital raised by Stotles will be used to progress in the UK prior to international expansion. Public-to-private sector business makes up 14% of global GDP, and even a 1% development driven by Stotles could save €20B for taxpayers per year, according to the European Commission. Hence, Stotles has a substantial global market out there that it has to cater to.
Founded in late-2019 by Taj Kamranpour, Carsten Schaltz, and John Witt, Stotles provides sales and advertising teams the insights and acumen they would want to prosper in the public sector. It gathers data and carefully-curated algorithms to give enterprises a clear, personalized understanding of the market and provides workflow tools to thrive in the often difficult environment of the public sector.
The data published by the public sector to showcase its business opportunities in the form of ‘tenders’ is usually unorganized and scattered. Larger enterprises have access to more information, giving them a valuable knowledge of opportunities prior to official tenders being released. Stotles normalizes access to these unseen market signals, enabling more businesses to analytically get in touch with potential customers earlier, and improve their results. Its technology converts unorganized public sector data, such as expenditure, tenders, agreements, meeting minutes, or news releases, into a clear view of the market, and notifies businesses about potential opportunities. It unifies these insights with workflow tools, so businesses can take the right actions at the opportune time, to win more business.
Stotles is looking forward to onboarding more companies spanning all the segments of the public sector market and is therefore accepting applications for its early access program.
Speedinvest is a European venture capital fund for tech startups, with +40 investment professionals operating from London, Berlin, Paris, Munich, Vienna and San Francisco. The company partners with businesspersons in accomplishing their goal of building great companies. It mainly focuses on early-stage investments and specializes in operational support. It has an in-house team of 20 operational specialists to provide its portfolio companies with full-service HR, growth marketing, business development, and U.S. expansion support.
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