Eversheds Sutherland Ots & Co has advised Estonian software company Scoro in a EUR 4.4 million Series A funding round involving venture capital fund Livonia Partners and existing investors, Inventure and Tera Ventures. Sorainen advised Livonia Partners on the round, which brings the total amount raised from investors to EUR 6.1 million.
Scoro is a business management solution allowing managers to track KPIs by combining the underlying business tools ‒ such as contact and project management, quoting, invoicing, and reporting ‒ into one system. “It takes most professional service companies more than 10 different applications to get their work done,” comments Fred Krieger, founder and CEO of Scoro. “There are separate apps for virtually every aspect of their workflow. The constant shuffling between different software causes a lot of fragmentation. Scoro solves that problem by combining these tools into a seamless end-to-end solution. This allows teams to become proactive, efficiently manage resources and make better and faster data-driven decisions.”
The company will use the funding to expand its New York and London offices and develop software integration and mass training opportunities.
The Eversheds Sutherland Ots & Co team was led by Partner Maivi Ots and included Legal Adviser Marten Amjarv.
The Sorainen team was led by Partner Toomas Prangli, working with Senior Associates Kai Vainola and Piret Lappert.