Business performance platform secures $5.2m Series A funding for global expansion

An intelligent platform for managing business performance improvement has closed a $5.2m funding round.

Quorso has closed the Series A investment round, led by OMERS Ventures with participation from existing investor Hambro Perks.

The firm, which has offices in London, New York and Kyiv, has created its own intelligent platform, using financial algorithms and granular analysis to inform performance management.

Quorso co-founder & CEO, Julian Mills, explained: “Every business in the world is focused on improving performance. And as data gets richer and more accessible, there is no shortage of smart insights.

“But embedding these insights effortlessly into your operational management process, so that the right person takes the right action and drives extra revenue or saves costs, is hugely challenging. That’s what we do.”

Quorso, whose existing clients include National Express, Edwardian Hotels, and Compass Group, plans to use the fundraising to accelerate its global commercial expansion.

Dan Slowe, co-Quorso founder and CPO, commented: “This investment will enable us to scale rapidly in global markets as well as take advantage of our worldwide first-mover status in the augmented analytics category.”

Harry Briggs, OMERS Ventures managing partner, explained: “We believe most companies are a fraction as productive as they could be. Despite vast IT investment, productivity has barely budged, because it’s so hard to translate the myriad of insights from big data into correctly-prioritised actions at every level of an organisation.

“We believe the Quorso team has the potential to change that – empowering every employee directly to their phone and bringing a new level of transparency and continuous improvement to management.”

George Davies, partner at Hambro Perks, added: “We are delighted to continue to back Julian and Dan in building Quorso.

“We believe that Quorso’s ability to combine the identification of insights from big data with software that translates those insights into practical actions has the potential to unleash a new wave of productivity for businesses across the globe.”