// startup autopsy

Illuminate Labs

Light on ideas, dimmer on capital

timingSilent Shutdown

Quiet closure with no public announcement · Fatal mistake: Illuminate Labs launched a SaaS product in the European market before enterprise cloud adoption was mature enough to support the business model.

Founded	2002
Closed	2006
Country	Sweden
Sector	Saas

50%

Key Events Timeline

2002-01-01

FOUNDING

Illuminate Labs founded in Sweden as an early SaaS software company.

2004-06-01

FUNDING

Raised early funding to build and market its SaaS platform to European businesses.

2005-01-01

FUNDING

Secured final $1.06M funding round but faced slow market adoption in Europe.

2005-09-01

PRODUCT LAUNCH

Launched updated product but encountered conservative enterprise buyers unwilling to adopt cloud-based SaaS.

2006-06-01

SHUTDOWN

Illuminate Labs closed operations after exhausting funding in a market not yet ready for its product.

Full Analysis

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Documented cause

Illuminate Labs, a Swedish SaaS startup, closed after failing to sustain commercial growth post-2005. With $1.06M raised and operating in an era before widespread SaaS adoption in Europe, the company could not ...

achieve the scale needed for viability.

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€1.3M

Peak valuation

HypeCycle · MoatType · ResearchTags

Illuminate Labs raised €1.06M before illuminate labs launched a saas product in the european market before enterprise cloud adoption was mature enough to support the business model. ended it. See the documented cause, verified lesson and all failure signals.

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Key Events Timeline

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