Orrick has advised Scoro, a producer of work management software for professional service businesses, on the closing of a USD 16.4 million Series B round led by Kennet Partners. Additional investors include Columbia Lake Partners, Inventure, Livonia Partners, and Tera Ventures. Estonian legal advice to Kennet Partners was provided by Hedman Partners, working with lead counsel Sheridans, and to Scoro by Eversheds Sutherland.
Kennet is an international growth equity firm that invests in companies in Europe and North America. With offices in London and Silicon Valley, the firm supports entrepreneurial technology businesses with expansion capital to accelerate growth and build shareholder value.
“Even before Covid-19 hit, most professional service businesses used as many as a dozen different platforms daily,” said Scoro’s Founder and CEO, Fred Krieger. “However, teams now realize that constantly switching between tools harms productivity and results in lost data and duplicated work. In many ways, these tools became weapons of mass distraction. We’re proud to have the support of Kennet Partners and other investors as we help businesses identify and remove these weapons of mass distraction with our end-to-end work management software.”
Orrick’s team included, in London, Partners Shawn Atkinson, Jonathan Rosen, Scott Morrison, and Ian Shaw, and in San Francisco, Partner Dolph Hellman.
Hedman Partners’ team included Managing Partner Merlin Seeman, Senior Associate Kati Pino, Associate Kristel Tael-Same, and Junior Associate Johanna Rahn.
Eversheds Sutherland’s team included Estonia Managing Partner Maivi Ots and Associate Taavi Koiv.
