The brand licensing industry represents a substantial market, yet a significant portion of its operations still rely on manual processes like email correspondence and spreadsheet management. Flowhaven, a developing company, is dedicated to modernizing this landscape. Having recently secured $16 million in Series A funding, the company provides solutions for brands to effectively oversee their licensing collaborations, encompassing aspects like account administration, detailed product data, and financial tracking.

This latest investment round was spearheaded by Sapphire Sport, Sapphire Ventures’ division focused on sports, media, and lifestyle businesses. Global Founders Capital and Icebreaker.vc, previous investors, also participated, bringing the total funding raised by Flowhaven to $21.5 million.

The impetus for improving media licensing stems from the founder’s firsthand involvement in the sector.

Kalle Törmä, Flowhaven’s CEO, previously managed licensing initiatives for the Angry Birds mobile game series at Rovio, beginning in 2012. During his time there, he established the overarching strategy for managing the franchise’s merchandising efforts, which subsequently broadened to encompass partnerships for Angry Birds Star Wars and Angry Birds Transformers.

“It became clear that existing processes were inefficient—from managing commercial aspects and agreements to product approvals and financial details. Information was often fragmented, and opportunities were frequently missed,” explains Törmä.

Furthermore, gathering data to provide management with a clear understanding of business performance proved to be a lengthy and challenging undertaking.

The difficulties Törmä encountered at Rovio highlighted the need for a solution like Flowhaven—specifically, the complexities of managing licensing workflows and schedules through traditional, manual methods.

He departed from Rovio in 2016 and established Flowhaven, joined by Timo Olkkola, his former university classmate and current CCO, who brings expertise in sales.

Currently, the Flowhaven platform streamlines the brand licensing workflow, covering areas such as planning and strategy, account and contract management, content distribution, design approvals, royalty reporting, and more.

The platform also assists in maintaining schedules, which are often critical in the fast-paced media and entertainment industries.

“These businesses consistently adhere to specific timelines—whether tied to a film or game release,” Törmä notes. “Successfully navigating the numerous steps involved in finalizing agreements and preparing products for launch is essential; for example, merchandise needs to be available on retail shelves a few months before a film’s premiere.”

“Failing to have products approved and ready means missing a crucial opportunity to capitalize on the momentum,” Törmä emphasizes.

Flowhaven asserts that its software not only saves time but also reduces costs. The company estimates that licensing professionals spend approximately 50 hours monthly on tasks costing $70 per hour that could be automated, equating to roughly $42,000 in wasted resources annually for each professional.

Following this latest funding, Flowhaven’s software-as-a-service platform is now utilized by nearly 100 organizations, ranging from smaller businesses to Fortune 100 companies in sectors like media, entertainment, sports, fashion, and consumer brands. While some client names remain confidential, Flowhaven confirms partnerships with Nintendo, LAIKA, Games Workshop, Acamar Films, and Crunchyroll.

Pricing is determined by the number of users accessing the platform, with guest access for external parties offered at no charge.

The company also reports a 400% increase in year-over-year growth and anticipates this trend will continue, though it does not disclose current revenue figures.

The new funding will enable Flowhaven to accelerate its growth, enhance its product offerings, and expand its team, according to Törmä. The company currently maintains offices in Helsinki, London, and Los Angeles, with the most significant growth occurring in the latter two locations.

Regarding product development, the focus will be on further refining Flowhaven’s analytics capabilities and streamlining the exchange of information between brand owners and their licensees.

Flowhaven has already experienced substantial growth in 2021, increasing its team from 30 to 43 members at the start of the year, and anticipates reaching nearly 100 employees by year-end.