Member Article

Scoro gets to work with $1.9m seed closure

Work management software solution Scoro, which targets both professional and creative services, is set to accelerate the development of its breakthrough app.

Closing a $1.9m seed funding round from investors SmartCap, Inventure, and Alchemist Accelerator, the London-based firm will also expand its sales and support teams across its five international offices.

Launched in 2013 in Estonia, Scoro brings structure to work by combining sales and billing with work management capabilities.

By aggregating data in a structured manner from its own toolset and other applications such as Outlook and Dropbox, Scoro intends to become the “single source of truth” for its customers.

Fred Krieger, CEO at Scoro, commented: “We’re seeing a lot of new software solutions trying to solve future problems. AI and machine learning are set to completely reshape the way we work, but the underlying structure and processes of most companies are far from being ready for that.

“That’s exactly what we’re aiming to solve - provide this structure for our customers and thus become a crucial building block for these next generation work management applications.”

Scoro’s customers include professional services companies such as Grant Thornton, Sotheby’s International Realty and creative agencies such as Graphic Evidence and WSI.

Tuomas Kosonen, Partner at Inventure, commented: “We are happy to see top-notch customers choose Scoro to help them run their businesses.

“Thanks to the integrations with most of the widely-used enterprise software, Scoro has been able to develop the control hub for an entire company, making management easier and more efficient.”

Ravi Belani, Founding Partner at Alchemist Accelerator, commented: “The volume of apps in the enterprise space is exploding. Scoro is poised to become the hub to interface with this explosion.

“We have been deeply impressed by the considerable developments Scoro has made relative to their peers in the business process management space, and expect even greater things to come.”