Lund, Sweden – March 8, 2024 – Fåhraeus Startup & Growth Fund II (FSG) today announces its investment in BrightBid, a Nordic ad-tech company using AI to help advertisers optimise their search and shopping campaigns. The investment was made through a directed share issue in the Nasdaq First North-listed company.

BrightBid uses AI to help online advertisers optimise their ad spend, and is a Google and Bing partner serving customers across Europe. The business has demonstrated strong recurring-revenue growth and a rapidly expanding international customer base.

“BrightBid combines genuine AI capability with a scalable SaaS model in a large advertising market. The company’s recurring-revenue growth and international reach make it a compelling investment, and we look forward to supporting its next phase,” said Linus Wiebe, General Partner and Managing Director at FSG.

“With FSG on board we can accelerate our product development and international expansion. Their founder experience is exactly the kind of support we want as we scale BrightBid,” said Gustav Westman, CEO of BrightBid.

About BrightBid

BrightBid is a Nordic ad-tech company that uses AI to help advertisers maximise the value of their search and shopping campaigns. A Google and Bing partner with customers across Europe, BrightBid is part of the Nasdaq First North-listed BrightBid Group.

About Fåhraeus Startup & Growth (FSG)

Fåhraeus Startup & Growth FSG Fund II (FSG) is a leading Nordic venture capital fund specializing in supporting high-impact startups and growth-stage companies in technology and life sciences. FSG combines strategic investments with deep industry expertise to empower transformative innovations. FSG Fund II is supported by the European Investment Fund (EIF).