Turkish Enterprise Mindsite Received an Investment of 1.5 Million Dollars

Local B2B SaaS startup Mindsite, which operates in the field of e-commerce analytics, has secured a $1.5 million investment in a new funding round led by Finberg. The round, conducted at a valuation of $15 million, also saw participation from Technology Investment under TTGV, Vestel Ventures, Future Impact GSYF managed by Tacirler Portfolio Management, and individual investors Utku Öz and Ömer Hayrı Erkmen. TT Ventures GSYF also joined as a new investor in this round.

Founded by İsmail Arapzade, Ali Göksu Özkan, and Hakan Utku Özdemir, Mindsite offers AI-powered e-commerce analytics solutions to brands and online marketplaces. As it approaches its fifth year, Mindsite aims to enhance the sales and profitability of its clients’ e-commerce operations. The company enables real-time competitor analysis, doubling the efficiency of sales teams and saving operational time for its clients.

Mindsite’s client portfolio includes major names such as Colgate, PepsiCo, Johnson & Johnson, Unilever, Arçelik, Watsons, Migros, Eczacıbaşı, Ferrero, Pazarama, and Nestle. The company processes 100 million rows of big data daily, generating real-time analytics and working with over 50 companies across 14 different markets. Additionally, it collects data on 600,000 products hourly from 320 different e-commerce platforms.

Mindsite CEO and Co-Founder İsmail Arapzade commented on the investment:

“We will physically expand into international markets where we have already reached and grown from Turkey, with more than half of our revenues coming from abroad, and we will make local hires in our target markets. This strategy aims to sustain our growth and prepare for a major Series A investment round. With our strong 40-member team, investors who believe in our vision, and the resources we need, we are excited to be the next big B2B SaaS company to emerge from Turkey.”

Finberg Board Member İhsan Elgin added:

“As Finberg, we will continue to support Mindsite, which quickly identifies new needs, swiftly launches different products, and progresses towards becoming a global brand with its international clients.”

This investment will enable Mindsite to reach a broader international customer base and take significant steps towards becoming a global brand.