Swedish Startup Xensam Receives $40 Million Investment

Xensam, founded in 2016 by brothers Oskar and Gustav Fösker, is looking to expand in the US and Europe. Swedish startup Xensam has raised $40 million in a funding round to invest in its AI software asset management platform and expand in the US and Europe.

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The Financing Round was Led by Expedition Growth Capital

The startup was founded in 2016 by brothers Oskar and Gustav Fösker. It has been at the forefront ever since. It was managed by Expedition Growth Capital, a London-based private equity firm. The funding will be used to invest in AI product development and expand operations in the US and Europe, the company said in an announcement. Apart from Sweden, Xensam has a presence in the UK, the US and other parts of Europe. Gustav, chief technology officer, said the company has succeeded in transforming software asset management for hundreds of companies by "pioneering" AI from the start and making the process more user-friendly by eliminating manual labour. Oliver Thomas, founder and managing partner of Expedition Growth Capital, said Xensam was one of the "most impressive" European growth companies he had come across.