Storyblok, an Austrian CMS startup, just raised $80 million for US expansion using this 12-slide pitch deck
- Storyblok, an Austrian startup, has raised $80 million in Series C financing.
- The funding round was led by Brighton Park Capital and included other existing investors.
- Storyblok plans to use the funds to expand its US presence and partner with OpenAI.
An Austrian startup that offers content management systems (CMS) for businesses has raised $80 million in Series C funding.
Alexander Feiglstorfer and Dominik Angerer founded Storyblok in 2017, bootstrapping it after they began looking for new CMS solutions after being told their then-employer would be shuttering their existing tool.
Angerer told Business Insider that the company was earning $1 million in annual recurring revenue while it was bootstrapped.
It has gone on to raise VC funding to scale its product, which helps developers, content creators, and marketers deliver more personalized content from a single interface.
Storyblok provides its services on annual contracts. Its clients include manufacturing and pharmaceutical companies, governments, and media organizations.
The latest round was led by Brighton Park Capital, along with existing investors HV Capital, Mubadala Capital, 3VC, and First Minute Capital. It means Storyblok has raised $138 million to-date.
Angerer said Storyblok began sounding out investors later last year to see if the pessimism around late-stage tech valuations was valid. At the time, BI reported that investors were predicting only the best late-stage startups would raise funds in 2024.
The company opened the round fully in February before closing. Angerer said he'd had sleepless nights during the lengthy process to find a partner.
The company will use its new funding to expand its presence in the US, which accounts for around 20% of its current business. Storyblok now has a US incorporation and will continue hiring staff there, specifically a CMO.
In addition, the company is using OpenAI's API to create new products including an ideation room, which allows users to work and create work more easily within the company's CMS, Angerer said.
Check out Storyblok's 12-slide Series C pitch deck below: