IT experience management firm HappySignals bags €12 million in funding round led by Mandatum Asset Management

HappySignals has secured a €12 million funding round led by Mandatum Asset Management and with participation from existing investors Nauta and Vendep Capital.

The cash will fuel sales, marketing, and product development for global expansion in the IT experience management (ITXM) market.

HappySignals was founded in Finland during 2014 and works with the likes of PepsiCo, Fujitsu, and Reckitt.

Sami Kallio, CEO and Co-founder, says: “The IT organisation's primary role is enhancing efficiency and satisfaction across the entire organisation through effective IT support and tools.”

“Historically, IT has concentrated on technical and process metrics, which essentially measure how IT functions rather than the value it creates or could potentially create.”

“In IT language, we are talking about moving away from SLAs (service level agreements) and starting to focus on XLAs (experience level agreements).”

“IT should continue to measure the traditional metrics, but the three pillars of IT - People, Process, and Tech - should always be considered in that order. This is where we help IT organizations gather and analyse employee experience data to make better decisions,” he continues.

“We are thrilled to have led the funding round in HappySignals, which will enable a further acceleration of their international growth journey,” says Rami Salonen, Investment Manager, Mandatum Asset Management.

“With its human centric approach, we believe that HappySignals has found a solution to a problem that has not been solved in the market before. Indeed, their blue chip customers are a true testimony to the quality of their approach and solution.”

“The investment in HappySignals is an excellent addition to our second vintage growth equity fund. We are excited to partner with the founders, management and other owners to accelerate the growth of the company’s already significant international operations.”