The investment – led by Conor Venture Partners, Open Ocean Capital and Finnish Industry Investment with participation from Steve Farella, chairman of MDC Media and Steve Marshall, CEO and founder of Invision – will help Verto expand its tools to address media fragmentation and cross-platform insights.

Other investors in this round include Ben Feder, head of investments for Tencent and previously CEO of Take Two Interactive, and Tom Glocer, board member of Morgan Stanley and former CEO of Thomson Reuters.

Investments have come from a variety of pre-IPO and growth stage venture funds in Finland – where Verto is headquartered – and the US, where Verto maintains its commercial hubs in San Francisco, Seattle, Cincinnati and New York.

Verto will use the capital to boost its customer success programme, its commercial account management and its Helsinki-based Verto Data Lab – its innovation focused centre of excellence.

Hannu Verkasalo, CEO and founder of Verto Analytics, said: "The new round of funding will accelerate Verto’s growth and extend our commercial operations in key markets – most notably in the US.

"We have proven the product-market-fit over the past two years, grown our customer base by a factor of four, and doubled annual revenues every year since 2015. The new round will equip us with capital for deals and investments that will ultimately help launch new services, improve customer operations, and penetrate new segments where Verto’s cross-platform audience measurement data is needed."