Sanoma Corporation, Press Release, 16 April 2013 at 16:10 CET+1
SanomaVentures invests in a Helsinki based e-commerce marketing software provider Nosto Solutions Ltd together with Open Ocean Capital and a number of angel investors.
Leading the round Open Ocean Capital joins existing investor SanomaVentures and a number of angel investors to participate in Nosto Solution Ltd’s seed investment round raising EUR 2.2 million in total funding including debt funding and grants.
Nosto’s platform-independent SaaS solution enhances customers’ online shopping experience by enabling personalized product recommendations in real time. Its plug and play solution makes the technology easily accessible to online stores of all size, automating marketing activities and increasing conversion, customer retention and store revenues as a result. Nosto’s first handpicked customers include leading brands like Angry Birds, Outnorth, Reima, Rajala, Budget Sport and Sanoma’s Huuto.
The Sanoma Group is committed to build new positions and offerings in digital media and in e-commerce according to its strategy. SanomaVentures supports these objectives by investing in the most promising start-ups operating in Sanoma’s strategic core areas.
“Nosto fits SanomaVentures’ investment scope very well since Sanoma is clearly able to support the company in many ways in its early growth phase. The common objective is to enhance consumers’ e-shopping experience, grow both parties’ e-com network and all parties’ revenues. We are very excited. There are a lot opportunities for us in this field,” says Juha Jaskara, Investment Director, SanomaVentures Finland.
Juha Valvanne, CEO, Nosto Solutions Ltd comments: “We are delighted to have Sanoma and Open Ocean as investors. This is an exciting time for Nosto and we look forward to working closely with new investors as we continue our work to bring personalized shopping experience, inspiration and pleasure to online store visitors.”
Additional information:
Juha Jaskara, Investment Director, SanomaVentures, juha.jaskara@sanoma.com, tel. +358 40 570 0736
Juha Valvanne, CEO & Founder, Nosto Solutions Oy, juha@nosto.com, tel. +358 44 524 1784
Sanoma.com
Get the world. Sanoma helps people access and understand the world. Sanoma is a front runner in consumer media and learning in Europe. We employ more than 10,000 professionals in some 20 countries. In 2012, the Group’s net sales totalled EUR 2.4 billion. Sanoma’s share is listed on the NASDAQ OMX Helsinki.