Embedded integration platform Cyclr has raised £5.5m in a new funding round led by Praetura Ventures and existing investor Blackfinch Ventures.
The London-based startup operates in the software as a service (SaaS) market. It provides cloud-based integration software for vendors to white label or embed integrations with other products into their own.
Cyclr has created a product line of more than 400 white label API connectors that tech companies can use to provide integrations to services such as accounting and billing, data tools, ecommerce, HR, and marketing.
The Cyclr team is planning to use the new funds for further international expansion.
Cyclr currently operates across several international markets already, including the US, Canada, Europe, Israel, and Australia.
“This new investment is a significant validation of our company and strategy,” said Cyclr CEO Fraser Davidson.
“We already generate a large majority of our revenue internationally and this capital will allow us to begin exploring a direct presence in some of those international markets for the first time.”
David Foreman, the managing director at Manchester-based Praetura Ventures, said that Cyclr is “a fascinating business with a strong management team who’ve experienced a problem in their previous careers and are now on a mission to solve it.”
Foreman added: “Delivering on our more than money promise, we will be engaging our operational partners and other portfolio support services to help Cyclr on their growth journey.”
The head of Blackfinch Ventures, Reuben Wilcock, said: “The business-to-business software-as-a-service technology sector is exploding, and the elegance of Cyclr is the ease at which it allows software providers to integrate to other platforms.”
[“source=uktech”]
