Scoro, a work management software startup, has secured a $1.9 million seed funding round. The round was led by SmartCap, the investment arm of the Estonian Development Fund, Inventure, and Alchemist Accelerator.
The Estonian startup builds software for companies to manage their workflow and automate certain tasks. The new funds will be used to further develop its automation features and integrations with other programs as well as expand it sales and support teams internationally.
The startup has offices in London, Tallinn, and San Francisco. It counts Grant Thornton and Sotheby’s International Realty among its client base.
“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,” said CEO Fred Krieger. “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.”
“The volume of apps in the enterprise space is exploding. Scoro is poised to become the hub to interface with this explosion,” added Ravi Belani, founding partner at Alchemist Accelerator.