Meltwater has recently banked a huge sum of $65 million in terms of investment from the Norwegian investment firm Verdane. The primary purpose behind these enormous figures is to help Meltwater expand its product base and improve its quality. Additionally, the company will be on its way to progressing faster and quicker in the media intelligence agency. Meltwater earned a big name in the tech industry earlier in 2023 and is on a serious journey in business intelligence with the help of AI and big data analytics techniques.
Meltwater has not conducted an official funding round to grab the investors’ attention. Still, Verdane has invested a crucial sum to hold 11% stakes in Meltwater. The Norwegian finance giant is pretty famous for its multiple investment deals. Earlier in 2023, they have invested an incredible total of $1 billion in the new tech startups. Now, they have picked Meltwater with the current market value of $592 million. Hence, the total stakes will be worth $65 million.
Besides, the investment amount also earns Verdane a significant stake holds in Fountain Venture, which is currently counted among the largest investment vehicles. Jorn Lyseggen, the founder and chairman of Meltwater, also owns the Fountain Venture and is ready to split the total stakes.
The investment will allow Meltwater to expand its product base and enhance its standards to dominate this saturated market. Additionally, it helps this startup to improve its media intelligence capabilities by uplifting its monitoring functionalities and analysis. Another significant implication of this investment is to provide users with even more comprehensive insights into online news, social media, podcasts, print, and broadcast.
The Verdane principal, Joakim Kjemperud, has confirmed that the investment will give them the rights to the stakes in Meltwater as well as in Fountain Venture. In his interview, he clearly stated that the deal would likely be a portfolio transaction. Further, he claimed that the investment would also earn them a direct stake in Nordic HR. However, the Meltwater holds the biggest share.
Meltwater is currently working with a total market cap of just under $600 million. With this investment, the company owners are quite hopeful to grab a significant evolution in the company’s net worth. It will impact its marketing journey brilliantly and take it ahead of the competition as declared by Kjemperud.
The enormous investment of $65 million from Verdane will enable Meltwater to improve its functional capabilities and take the right path to improve its products and services. It will not only help the company to grow speedily but also sustain its position in the market for long-term advantages. While Joakim Kjemperud has announced the investment details, Meltwater chairman Jorn Lyseggen will also come to the party shortly.