Citationsy Raises Seed Round from Ex-Spotify & Ex-Truecaller Angels

Stockholm, Sweden, September 26, 2021 --(PR.com)-- Sting Accelerate 2021 company Citationsy has raised SEK 1.3M (GBP 110.000) to continue its international expansion. Citationsy’s mission is to make perfect references possible for all students and to help them become more productive at every stage of their academic work – from research to bibliography generation. The two leading investors behind the deal are Ted Nelson and Juan Manuel Serruya. Ted Nelson, previously the Chief Commercial Officer at Truecaller, has now invested and helped over fifteen startups take their next steps building their businesses. Juan Manuel Serruya, previously Head of Engineering at Spotify, exited after the company went public. He then went on to start his own company Datia and a private investment company that actively invests in early stage startups in the nordics. “Already with great organic growth, solving a real problem, I’m looking forward to working with these strong founders in taking the next steps growing and monetizing Citationsy.” -Ted Nelson

“The Citationsy team managed to build a delightful product that hundreds of thousands love, I am honoured to join their journey and excited to see Johann and Cenk scale up their company.” -Juan Manuel Serruya

While reaching ramen-profitability in May this year, with the investment round the founders aim to double-down on consolidating their tool across desktop and mobile devices as well as web browsers. They have released new Android and iOS apps with the aim to reach a total addressable market of over one billion students who mainly use mobile devices. What first started as a side project has turned into a tool that today over 340.000 people around the globe use. “It’s crazy to think that the app I started from my bedroom in Stockholm has helped this many people simplify the most annoying part of academic writing. The next step for Citationsy is to use our position in academia to offer a new solution for personal knowledge organisation for everyone,” says Cenk Özbakır, Citationsy’s Founder Citationsy started with the simple idea of creating a tool that brings joy to people doing academic work, a tool that they could use with privacy and ease. Moving forward the founders aim to increase their paying customer base and expand their product offering to also bring Citationsy to more customers outside of academia.