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  • Portfolio News
  • 08 July 2014
  • 7 min read
  • Words: Northzone

FishBrain secures funds led by Northzone and Active Venture Partners

Available on iOS and Android, the free-to-use FishBrain app helps sport-fishing enthusiasts catch more (and bigger) fish by gathering and managing vast amounts of meteorological and user data, and allowing them to share fishing trips and catches with their peers. Users can also upgrade to a Premium Account for £3.99 per month or £27.99 annually, which allows deeper insight and personal analysis that helps improve an angler’s performance, for example by predicting what bait would be most effective in catching a particular type of fish in a specific lake.

Already the largest platform of its type in the US, this investment will be used to accelerate product development, and to firmly establish FishBrain as the market leader in its space. With 430,000 registered users and 130,000 logged catches within the app, FishBrain is the fastest, easiest way to log fishing activity and share it with anglers worldwide. Angling is the world’s biggest popular sport, and with over 4 million regular participants in the UK, is worth in the region of £3bn to the British economy. In the United States this figure is reported to be around 40 million active participants, who spend over $48 billion annually on the sport.

Johan Attby, CEO of FishBrain, comments: “This is an exciting time for FishBrain, and we are delighted to welcome high calibre new investors Northzone, Active Venture Partners, GP Bullhound, and Edastra Venture Capital. The continued development of our product is hugely important to us, and we look forward to further expansion in international markets, and the opportunity to bring FishBrain to even more anglers and sports fishing fans worldwide.”

Tim He, Investment Manager at Northzone, comments: “There’s a great opportunity in niche social networks. Fishing is the world’s largest hobby and digitally underserved. FishBrain is the best and fastest growing app and social network for anglers. With its world class team, I am confident FishBrain will become the go-to app for fishing.”

Ricard Söderberg, Founding Partner of Active Venture Partners, said: “We have been following new mobile services within the sports fishing sector for a couple of years and we are very pleased to be working with the team behind Fishbrain, which has created a very clever and unique product for this community. We look forward to supporting their continued growth at a worldwide level.”

Other investors include GP Bullhound and Edastra Venture Capital, as well as Mathias Ackermand, Rikard Steiber and ALMI, who are existing investors in the company. Earlier investors in FishBrain include Industrifonden, Umando, Henrik Torstensson, CEO of Lifesum, and Mattias Miksche, Founder and CEO of Stardoll.