Funding

[Funding alert] Amsterdam-based TheyDo Secures €31.1 Million in Seed Funding

Mar 15, 2024 | By Startup Rise EU

TheyDo, a leading journey management platform, TheyDo secures €31.1 million in seed funding led by Blossom Capital, with support from Highsage Ventures, 20Sales, and global customer experience evangelist Steven van Belleghem.

TheyDo, a leading journey management platform, TheyDo secures €31.1 million in seed funding led by Blossom Capital, with support from Highsage Ventures, 20Sales, and global customer experience evangelist Steven van Belleghem.

With the funding round, TheyDo will be able to expand its customer-facing workforce in the US, boost R&D, concentrate on AI and data ingestion, and maintain its leadership position in the journey management space at scale.

In order to transition from charting client journeys in bulky, static paperwork to a live platform that facilitates a bias for action, TheyDo was founded in 2019. TheyDo currently has an excellent clientele and is working to make the journey the most effective business tool available.

Read also - Osnabrück-based NeoTaste Secures €15.1 Million in Series A Extension Funding

Businesses may handle journey strategy, planning, and execution with TheyDo, allowing them to unify their silos around the one concept that unites them all: the client journey. Customers of TheyDo are starting their final changeover, switching from dashboard management to journey management.

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TheyDo CEO and Co-Founder Jochem van der Veer said, “What’s most exciting about our growth is we’re not just building a company or a product – we’re fostering a movement of journey-centric companies. We’ve simplified the biggest business problem of the last century: working customer-centric at scale. With journeys at the heart, we’re bringing an operating model that is agile and customer-centric, Executive teams are feeling the pressure to deliver more value for customers with less, especially in this economic climate, and what we’re seeing is a growing recognition that journey is the most powerful business tool that they have at their disposal to do that. ”

The investment now stands at little under $50 million after the latest funding round. It comes after an additional year of triple-digit growth year over year, where TheyDo is surpassing the traditional A16Z "triple twice, double three times" paradigm for SaaS growth. Enterprise clients are becoming more and more diverse, with names like Cisco, Ford, Johnson & Johnson, Home Depot, and Polestar.

Ophelia Brown, from Blossom Capital, commented: “TheyDo’s acceleration has been very impressive. Since our initial investment, there’s been very clear acceleration in market demand by large enterprises. TheyDo has pioneered this category and its product only compounds in value as they are fast adding new features. Given the clear opportunity ahead, we were keen to double down on our investment and continue supporting the team in their ambitious plans. We are proud to champion this trailblazing European startup as it continues its expansion locally and across the Atlantic.”

Two notable new investors are 20Sales, a new venture capital firm made up of eight go-to-market experts with experience in cloud-100 firms, and Highsage Ventures, which is well-known for its strong enterprise expertise.

Read also - Vienna-based Necture Secures €7 Million in Series A Round Funding

The 20Sales team has lived and breathed the issue TheyDo solves, having worked at Amplitude, OpenAI, and Notion. As such, they are well-positioned to assist in taking its growth plan to the next level.

Steven van Belleghem, customer experience evangelist and investor, added: “Every business wants to be customer-centric, but for most, it’s the pot of gold at the end of the rainbow they can’t quite reach. The challenge for most businesses is not ‘what do we need to do?’, but rather ‘how are we actually going to achieve it?’. I look forward to partnering with TheyDo with its go-to-market strategy, expanding into North America and creating the enabler of customer-centric growth for companies of all sizes.”

About TheyDo

TheyDo is the most cooperative journey management platform yet created for service designers and managers of experience-driven, customer-focused businesses. It makes it twice as easy for those who think that working together is the only way to provide a fantastic customer experience to align and sustain alignment for the first time in years.

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