Today, European tech investor Tenzing announced their first Nordic investment in Bannerflow, a Swedish leader in creative automation for display advertising.
Founded in 2010 by Swedish entrepreneurs Daniel Fahlén and Daniel Jacobsson, Bannerflow has remained independently funded to date. With Tenzing’s backing, this new partnership is poised to accelerate Bannerflow’s growth into key strategic markets, including the UK and US.
Bannerflow has shown impressive growth to date. In recent years, the company has launched numerous product features, enhancing the experience for customers particularly around social media, video and AI capabilities. In 2023, it achieved an ARR growth rate of 26% and maintained a profit margin above 20%. To support its continued success, Bannerflow will be able to opt-in for support from Tenzing’s Growth Team, drawing on the expertise of a Sherpa, Entrepreneurs Panel, Subject Specialists and a dedicated Acquisitions Director.
David Lundgren, CEO of Bannerflow, stated: “Since joining Bannerflow in late 2021, I have guided my management team to focus on building profitable and efficient growth, aiming for the well-known ‘Rule of 40’. With our ambition and strategy to become a global CMP, Tenzing is the perfect partner for Bannerflow, given their experience in scaling businesses in the UK and US.”
Milan Kellner, Investment Lead at Tenzing, commented: “We’re delighted to partner with Bannerflow for our first Nordic investment. Throughout the process, we’ve been impressed with what has been built so far and see significant opportunities for growth and development through internationalisation, product expansion, and organic growth amongst other avenues. We love the ambition of David and his team and look forward to sharing our knowledge and experience to accelerate growth further.”
Bannerflow is the third investment within Tenzing’s £900m Fund III, which closed in July 2024, and is one of nineteen high-growth businesses within the Tenzing Portfolio. Tenzing was advised on the investment by William Blair, Mannheimer Swartling, PwC, Strategy& and Implement.
Bannerflow was advised by Houlihan Lokey, Setterwalls, Deloitte and EY Parthenon.
