Gelato, a Norwegian company that provides a global cloud printing platform, recently announced that it has raised a substantial amount of funding from New York-based venture capital firm Insight Partners. This funding round has allowed Gelato to achieve a valuation of over $1 billion, making it one of the most valuable startups in Norway.
The company was founded in 2007 by Henrik Müller-Hansen with the aim of making printing more accessible, efficient, and sustainable. With its cloud-based platform, Gelato offers businesses the ability to print marketing materials, business cards, brochures, and other documents on-demand, from anywhere in the world. This eliminates the need for physical printing facilities and allows businesses to reduce their environmental impact by cutting down on transportation and paper waste.
According to Bloomberg reporter, the funding round was led by Insight Partners, which invested $240 million in Gelato. The funds will be used to further expand Gelato’s global operations, as well as to invest in product development and technology innovation.
In a statement announcing the funding round, Müller-Hansen expressed his excitement about the opportunity to continue growing Gelato’s business. He noted that the company has seen strong demand for its services, particularly in the wake of the COVID-19 pandemic, which has accelerated the shift towards remote work and digital solutions.
The investment from Insight Partners also comes with the appointment of Jeff Horing, co-founder and managing director of Insight Partners, to Gelato’s board of directors. Horing expressed his confidence in Gelato’s ability to disrupt the traditional printing industry and to become a global leader in the space.
With its innovative cloud-based platform, Gelato has already attracted a wide range of high-profile clients, including Airbnb, Fiverr, and Canva. The company’s expansion plans, backed by the recent funding round, are expected to help it reach even more businesses and individuals around the world.
According to the company’s financial reports, its platform business grew 3.5 times from 2020 to 2021, highlighting the strong demand for its services and the scalability of its business model. Gelato’s success has been fueled by its focus on innovation, sustainability, and customer satisfaction. The company has invested heavily in research and development to continually improve its technology platform and expand its product offerings. It has also prioritized sustainability, reducing its carbon footprint by optimizing its supply chain and adopting eco-friendly practices throughout its operations.
In summary, Gelato’s recent funding round and achievement of a billion-dollar valuation mark is a testament to the company’s innovative approach to printing and its commitment to sustainability. With the backing of Insight Partners, Gelato is poised for continued growth and success as it continues to disrupt the traditional printing industry. Recently, Rebecca Razulis was appointed as Chief operating officer of Gelato.