The leading gamification platform raises 45 million from Evolution Gaming founder Fredrik Österberg and others
Insert Coin is the leading Scandinavian B2B SaaS provider of gamification technology, expertise and engagement data. The company’s API and platform — GWEN (Gamify the World Engine) — already has 13 million users and some examples of customers include leading sports fan app Socios.com, Austrian bank Raiffeisen and Roblox challenger HiberWorld. The company is now raising around SEK 45 million in its latest capital round. The anchor investor is Evolution Gaming’s founder Fredrik Österberg, via Fros Ventures.
“We find technology within engagement and retention, which Insert Coin is challenging in, highly interesting and it feels very exciting to join as an owner in this company for the continued growth journey” Says Fredrik Österberg, founder of Evolution Gaming and investor via Fros Ventures.
Insert Coin wants to flip around the way companies with digital products create stronger engagement and succeed in retaining their customers.
“It’s expensive to chase new customers and too many lose too many of the customers they do manage to get. We need to get better at capturing the customer’s attention immediately and creating engagement right from the onboarding of new users,” says Carl Bjerkne, CEO and co-founder with a background in King.com and Candy Crush.
Insert Coin has created an innovative gamification platform/API that offers engagement mechanisms such as achievements, levels, leaderboards, rewards, etc. as well as an A.I that optimizes the customer’s choice and balance. The A.I. uses knowledge from millions of users and how they behave in different products and industries. Companies don’t need to invest millions in building this themselves and then get stuck with a system they have to maintain themselves and have a whole team for. It’s not scalable in the long term.
Insert Coin has a dominant position when it comes to engagement data and can give customers answers to what needs to be done to engage their users and from that can offer just the right tools to get this in place in your product. At least a 20% increase in retention is confirmed with the majority of customers and often much more than that.
The investment will allow Insert Coin to recruit more stars in tech, sales and marketing to take the next step in its platform strategy. This summer, Insert Coin will release a freemium version of GWEN that customers can sign up for and test on their own at no cost. The goal is to reach 25 million users on the platform during 2022.
“I am incredibly pleased that we have secured our round in a strong way even in these special times and that we have got such knowledgeable investors who both see the potential and have made the journey themselves,” says Carl Bjerkne.
Read more in the latest article about Insert Coin on Breakit (in Swedish).
Visit www.insertcoin.se to learn more about Insert Coin and the platform.
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