# HappyOrNot funding: rounds and investors

> HappyOrNot has raised $40M across 2 rounds since 2017. Investors include Verdane, Northzone and Northzone/ AirTree. Every round with its source.

Source: https://millionrounds.com/company/happyornot (Millionrounds; every figure on the page links to its filing or article)

Finland · [Funded startup](https://millionrounds.com/companies)

# Who invested in *HappyOrNot*

2 rounds we have observed, with the 3 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Big Data & Analytics

Funding summary Updated 26 Oct 2026

**$40M** raised across 2 rounds since 2017, from 2 sources

**$15M** Series A **$25M** Round

- **Latest round:** Round, $25M Sept 2019
- **Led by:** Verdane
- **Step-up i:** 1.7×
- **Investors:** 3 (1 led)

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2018 2019

**$15M** Series A

**$25M** Round

- **First round:** Series A, $15M
- **Biggest round:** $25M
- **Between rounds:** 23 months

## The rounds

- **Sept 2019** Round **$25M** *2 new* [Verdane](https://millionrounds.com/fund/verdane) Lead [Northzone](https://millionrounds.com/fund/northzone) Reported by FinSMEs
- **Oct 2017** Series A **$15M** *1 new* Northzone/ AirTree Reported by Tech.eu

## Founders and team

From HappyOrNot's own website: 1 founder, 3 on the team.

**Heikki Väänänen** Founder, EVP Growth

- **Tim Waterton** CEO
- **Julia Alekseeva** VP of Marketing
- **Mauno Pasanen** VP of Product

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Series A** 2017 **Round** 2019 [Verdane](https://millionrounds.com/fund/verdane) L [Northzone](https://millionrounds.com/fund/northzone) Northzone/ AirTree

## Everyone who backed them

[Verdane](https://millionrounds.com/fund/verdane) Private equity **1** round, led 1

[Northzone](https://millionrounds.com/fund/northzone) VC firm **1** round

Northzone/ AirTree no record of our own yet **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=happyornot).

## Also claim to have backed them

This firm lists HappyOrNot as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above.

[Aurum Partners](https://millionrounds.com/fund/aurum-partners) VC firm Per its own site

## Quick answers about HappyOrNot

### Who invested in HappyOrNot?

HappyOrNot's investors include Verdane, Northzone and Northzone/ AirTree. Verdane led its latest round.

### How much has HappyOrNot raised?

HappyOrNot has raised $40M across 2 rounds since 2017.

### When did HappyOrNot last raise?

HappyOrNot's most recent round was an Undisclosed round of $25M in Sept 2019, led by Verdane.

### What was HappyOrNot's biggest round?

Its most recent round, $25M in Sept 2019, is also its largest on record.

### Who backed HappyOrNot first?

HappyOrNot's first round on record, in Oct 2017, was backed by Northzone/ AirTree.

### What stage is HappyOrNot at?

HappyOrNot's latest named round is an Undisclosed round, in Sept 2019.

### Where is HappyOrNot based?

HappyOrNot is based in Finland.

### Who led HappyOrNot's rounds?

Verdane led the Undisclosed round in 2019.

## Companies like HappyOrNot

In the same sector, and raised in the last eighteen months.

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