Scoro Closes $5M Funding Round to Shake the Business Management Industry
We’re thrilled to announce that we have closed a $5 million Series A round led by Livonia Partners with participation from existing investors Inventure and Tera Ventures.
Scoro employs a brilliant team of 65, across offices in New York, London, and the Baltics. Fun fact: more than half of our employees are women, which is multiples higher than the industry standard. We have seen strong year-on-year customer and revenue growth, with thousands of customers in 50+ countries across the world, and we are happy to be named as one of the fastest growing technology firms in Central Europe by Deloitte and featured on the Inc. 5000 list.
We will use the funds to expand our New York and London offices and develop the platform’s deep integrations and machine learning capabilities.
“It takes most professional service companies more than 10 different applications to get their work done,” said Fred Krieger, founder and CEO of Scoro. “There are separate apps for virtually every aspect of their workflow. The constant shuffling between different software causes a lot of fragmentation. Scoro solves that problem by combining these tools into a seamless end-to-end solution. This allows teams to become proactive, efficiently manage resources and make better and faster data-driven decisions.”
“Soon Scoro will help users automatically prioritize their work across channels, using vast amounts of aggregated data. With the help of ‘Smart filtering’, Scoro will suggest which tasks and projects to tackle first, whether the next meeting will be productive or when to ignore something in the first place. Because, when everything is high priority, nothing really is.”
“We are very impressed with what Fred and his team have achieved with Scoro. The investment fits well with the types of high-growth profitable model opportunities that Livonia supports. Scoro’s platform will change the competitive business management industry on a fundamental level,” said Kaido Veske, co-founder of Livonia Partners, a pan-regional investment fund. Rain Lõhmus, another co-founder of Livonia added, “as the instant messaging revolution conquers workplaces around the world, Scoro is determined to swim against the current by offering a radical alternative to the as-soon-as-possible and always-on mentality.”
Tuomas Kosonen, a Partner at Inventure, commented, “We have been proud investors and worked with the company since 2016. During that period Scoro has continuously grown month over month and shown great expansion. With the additional funding, the company has the opportunity to accelerate its growth even further and serve its clients in more effective ways.”