Content automation platform Turtl raises $17m in Series A funding from Octopus Ventures
Turtl’s client base spans leading large-scale enterprises globally, with first institutional investment to facilitate further US growth
London/Boston, 23rd September 2021 – Content automation platform Turtl today announces that it has raised $17m in Series A funding from leading European venture firm Octopus Ventures.
Headquartered and founded in London, with offices in Boston, the investment comes off the back of 70% revenue growth in the last 12 months with almost no cash burn, the development of a sizeable US footprint (60% of Turtl’s current revenue) and multiple internationally recognised enterprise customer wins.
With a focus on the B2B enterprise market, the company’s global client base is spread across a range of sectors, including automotive, FMCG, finance, technology, professional services, retail, insurance, and big data.
Digital content is now critical for building business relationships, and enterprises can often struggle to deliver high quality, personalised content at scale. Turtl’s patent-pending, cloud-based platform makes business materials – from brochures to sales decks, and staff newsletters to ABM campaigns – easier to create, read and analyse, without having to compromise on speed, scale or quality.
The platform’s interactive content format is informed by psychological principles of how we read and retain information, which aims to maximise engagement. As a result, an independent research study found that Turtl readers spend 73% more time engaging with content produced via the platform when compared with more traditional formats like the PDF and recalled certain facts 70% more accurately. In the real world, Turtl customers have seen 7x more engagement with their business materials.*
Turtl integrates across the technology stack, including major CRM platforms such as Salesforce, marketing automation suites such as Marketo and Business Intelligence platforms such as Domo to enable automated personalisation at scale and speed. In doing so, the company’s own data indicates that its platform can save every salesperson at least two hours per week on average – the equivalent to 14 days per year.
With just 10% of staff based in the US to date, Turtl has grown the US business to account for 60% of revenue. Led by an experienced senior team including former Experian, and Cisco executives, Turtl’s US team is set to expand and build on this record growth in the market. With 70% of B2B marketers citing a planned increase in spend on content creation in 2021** and US clients including Cisco (Fortune 500) and Nestlé Professional, the funding will enable Turtl to continue building on its existing momentum in the US market.
Commenting on the raise, Nick Mason, Co-Founder & CEO of Turtl said:
“This is a huge milestone in the evolution of Turtl. Content automation platforms need to be accessible and easy to use across an organisation – from marketing to sales, and communications to recruitment -with non-designers having the power to make design-quality content. Our mission is to ensure enterprise content is timely, relevant and engaging for all – and this funding is crucial for us to progress to the next stage of that journey.”
Uthish Ranjan, Principal at Octopus Ventures said:
“The ability to rapidly create engaging content has become critical to the way enterprise B2B organisations win and retain customers. However, this can often prove very time consuming, especially within large and complex organisations. Turtl’s leading content automation technology sets out to solve this problem, enabling businesses to rapidly deliver such engaging business materials at scale, offering huge time savings.
“Nick and the team are relentlessly focused on pushing the boundaries of automation and personalisation to new and exciting levels, supported by impressive growth and an exceptional management team. We look forward to working with Turtl on their journey to becoming the category leader in content automation.”
*Lumen Research; June 2020. https://team.turtl.co/story/lumen-research-turtl/
** 11th annual report B2B content marketing , Content Marketing Institute, September 2020.
For more information please contact [email protected] +44(0)207 249 7768
Turtl is the only content automation platform that enables enterprises to personalise interactive content at scale. Its cloud-based platform makes business materials easier to create, read and analyse, without having to compromise on scale, speed, or quality. Headquartered and founded in London, with offices in Boston. With a global customer base spanning the EU, North America, Africa, and Asia, including more than 75 globally recognized brands and hundreds of other businesses, Turtl is helping to transform business content across multiple industries worldwide.
About Octopus Ventures
For the people and ideas that will change the world, because we believe you can build a better tomorrow by investing in it. We can back you at every stage of your journey, from ideas on a page through to IPO. Each year we deploy more than £200 million across five areas where we see maximum potential for impact: health, fintech, deep tech, consumer and B2B software. With many years of experience and expertise investing in each of these areas, our team can help our portfolio companies scale at speed. For us, investment is about more than money. Being truly invested is about giving time, energy and focus; working with founders to give them the best chance of success. It means a shared commitment to solving the big problems that matter. We’ve backed the likes of BoughtByMany, Cazoo, Depop, Elvie and WaveOptics, and many more. We are based in London and New York with a network of partners across the U.S and Asia.