Stockholm-based board and c-suite evaluations platform BoardClic has raised €1.6 million in seed funding. The startup is seeking to make the evaluations process more transparent, automated, and data-driven. The new funding is expected to drive further development of the product, as well as roll out an international expansion plan.
Founded in 2018 by Monica Lagercrantz and Malin Lombardi, BoardClic is a natural extension of Lagercrantz Associates, a board and executive search agency. With both women having over two decades of experience in top-level recruitment, it’s a fair presumption to make that the duo has a fairly good idea of what makes for a great team; and more importantly, how to measure and improve it.
Convert this knowledge and experience into a tool that can then be scaled and distributed, and the origins of BoardClic start to form. The SaaS platform effectively removes the traditional mountains of paperwork and allows boards and management teams to be evaluated in a fully digitised, well-documented, and transparent manner.
By continuously measuring and analysing data, customers have the opportunity to compare and evaluate their results both internally over time as well as against relevant external companies.
Since officially launching the product in 2019, BoardClic has garnered some 70 clients from brands including 3i, BGF, Bristol Water, Destiny Pharma, and Enquest. The latest funding was provided via Subvenio Invest, with existing investors Curitas Ventures, and Brofund both following on.
"It has only been a matter of time until digitalisation and relevant data should enhance the board work. At BoardClic, we have made this happen, as we give boards an opportunity to focus on what is really important, and gain an understanding of how they can increase the degree of efficiency and value-creation,” commented Lagercrantz.