Does OpenOcean VC Fund SaaS Startups? A Deep Dive Analysis


This article is based on the research process for our list of the 1500 largest investors for software as a service startups. You can download the list with just a few clicks.

OpenOcean VC: A Deep Dive into SaaS Startup Investments

OpenOcean, a European venture capital firm founded in 2008 by the key figures behind MySQL AB and MariaDB, has been a prominent investor in early-stage technical companies that are shaping the data economy. With over 45 years of combined software investment experience, OpenOcean’s General Partnership brings invaluable expertise to the table. Their investment approach is thematic and focuses on startups at typically Series A round, writing initial tickets up to €6m for companies driving the surging data-economy.

Investment Philosophy and Thematic Focus

Their philosophy centers around empowering bold leaders who harness data to create products that optimize processes, personalize offerings, and deliver exceptional customer experiences across multiple industries. OpenOcean’s portfolio reflects this focus with investments broadly in data software and building category leaders in AI & Data Infrastructure, Future of Software Development, and Automation.

Notable Portfolio Companies

A glance at OpenOcean’s portfolio showcases their commitment to backing transformative companies. Standout investments include for video infrastructure management; Binalyze for automated enterprise forensics; Bitrise providing mobile development workflows; Booksy simplifying booking management; Cambri offering advanced market research tools; Favrit streamlining ‘Order and Pay’ platforms for eateries; HeavenHR offering secure cloud-based HR management; Hygraph for content management systems; IQM building next-generation quantum computers; Kevin facilitating PSD2 enabled payment infrastructure; LatticeFlow accelerating ML teams with robust AI models; Leadoo converting website traffic into customers through marketing technology.

Geographical Reach and Global Ambitions

While OpenOcean operates primarily within Europe with offices located in Helsinki and London, their reach is global. They back relentless founders creating the data economy of the future from various locations including Finland, France, Germany, Hungary, Lithuania, Norway, Poland, Spain, Sweden, Switzerland, the United Kingdom (UK), and the USA.

A Commitment to ESG Principles

Beyond financial returns, OpenOcean is dedicated to environmental, social governance (ESG) principles. They believe startups embracing ESG practices are not only shaping a sustainable future but also reaping numerous benefits such as attracting talent and making efficient business decisions.

The Road Ahead: Scaling Startups into European Success Stories

In conclusion, OpenOcean VC stands out as an early-stage venture capital investor with deep technical expertise and a clear investment thesis focused on scaling technical startups from Europe into global category leaders. Their history of successful investments in SaaS startups demonstrates their ability to identify high-potential companies that drive innovation within the data economy.

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