The Danish SaaS startup Zuuvi became the market leader in Denmark in just two years and has doubled their current income in 2022, when the marketing sector was otherwise looking at reduced budgets. This has led Swedish investors Ark Kapital to boost the international growth ambitions.
Copenhagen based Zuuvi, which has achieved impressive growth rates in its short lifetime, has received € 1.6 million (DKK 12.5 million) in investment from partly existing investors, partly from the Swedish lending company Ark Kapital, which entered Denmark in 2022.
The growth company, which has a mission to make it easy for companies to produce digital ads, will use the fresh capital to further turbocharge internationalization and develop the current AI model using its own data.
The product is a design platform that companies use to design and automate the production of digital creatives – a tool that streamlines so much that Zuuvi quickly acquired major clients such as Toyota, Salling Group, Schibsted and Shaping New Tomorrow.
“The need for digital creatives is increasing. We are firmly established in the Danish market, where we continue to experience growth. With the investment and the loan from Ark Kapital, we will scale to new markets in Europe and deliver an even better platform to our current customers“
says Alexander Augustesen, CEO of Zuuvi
Part of the investment is in the form of a risky loan from the lending company Ark Kapital. Risk-taking loan capital is gaining ground after a 2022 in which investment appetite among venture funds has been sharply declining due to central banks’ interest rate increases.
“In 2022, we reached our goal of doubling ongoing subscription revenue, and it was great to get over two billion impressions of ads made with our tool, which also gives us unique insight that can train our AI models“
says Alexander Augustesen
In 2023, Zuuvi will increase its workforce by almost 60 percent, with the majority focusing on international growth and adding AI as an assistant that can automate several parts of ad production. The Zuuvi AI is trained by constantly looking over the customer’s digital shoulder and learning the customer’s routines and processes.
“Zuuvi has created a platform in high demand, and has shown a good ability to deliver on its own plans. The company has shown persistent predictable growth, and we are happy to finance the company’s next chapter as Zuuvi enters new markets in Europe“
says Nikolaj Sørstrup Jørgensen, country manager at Ark Kapital.
