Vilnius-based SaaS startup Evergrowth raises €2M in a pre-seed round

Lithuanian SaaS AI-powered B2B sales platform Evergrowth has raised €2M from the lead investor US-based Impellent Ventures and Lithuanian Practica Capital.

Founded in Vilnius in 2014 by JB Daguené, Mantas Urnieza, Tadas Cekavicius (co-founder of digital marketing startup Fullreach), Aivaras Rastenis, and Algimantas Padegimas, Evergrowth is an AI-driven account-based selling (ABS) platform. It allows the customers to research each account and business contact.

The startup uses account-based selling frameworks for B2B companies to build a predictable revenue engine and scale it with a data-driven sales system. It also ensures that the platform's tools and analytics are optimised to improve sales team performance.

The solution allows customers to export data from the company's CRM, reverse engineer valuable data points, and identify patterns to map their Ideal Customer Profiles (ICPs) and Ideal Buyer Personas (IBPs). After launching MVP, the company aims to achieve a $500K ARR within three months.

Evergrowth will use the investment to transition from a consultancy to developing a scalable SaaS solution. It also plans to expand its global presence by opening its first US office in New York City. Evergrowth is also expanding its platform sales and engineering teams to meet growing demand. 

Practica Capital manages four funds with a total market value of €132M. The firm has invested over €10M from its Practica Capital III fund and backed six companies including Heavy Finance, Sentante, Amlyze, and Breezit. It recently announced a second closing of its €80M fund.