# Scoro Software OÜ

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/scoro-software-ou

- Industry: Software
- Headquarters: London, UK
- Website: www.scoro.com
- Total disclosed funding: $23M
- Latest round: Series B (Mar 9, 2021)
- Investors on record: 7

## About

Scoro Software OÜ offers a Professional Services Automation (PSA) platform that enhances operational efficiency for consultancies and agencies, integrating project management, CRM, time tracking, and invoicing for streamlined business processes.Founded in 2013 in London, UK, Scoro Software OÜ specializes in PSA software solutions. The company has successfully raised GBP 11.8 million, most recently in a Series B funding round on March 9, 2021, led by Kennet Partners and including investors such as Columbia Lake Partners, Inventure, Livonia Partners, and Tera Ventures. Fred Krieger serves as both the CEO and Founder, guiding the company's direction in the PSA market.Scoro offers a comprehensive Professional Services Automation (PSA) software designed to streamline operations for consultancies, agencies, and various professional service businesses. The core functionalities of Scoro include project management, quoting and budgeting, sales and CRM, resourcing, time tracking, reporting, invoicing, and cost management. These features are integrated within a single platform, allowing users to manage the entire project lifecycle—from initial proposals to final invoicing—thereby increasing visibility and profitability while standardizing operations. Scoro serves a diverse client base across multiple industries, including consultancy, architecture, engineering, software and IT, and event management. The software is utilized by professionals in various roles, such as executives, operations managers, project managers, and financial managers, primarily within the European and North American markets.Scoro's revenue model is structured around subscription-based transactions, enabling businesses to access its PSA software on a recurring basis. Companies typically engage with Scoro by selecting a pricing plan that aligns with their operational needs, which may include a range of features tailored to their specific industry. The service is particularly beneficial for managing projects from inception to completion, involving activities such as tracking billable and non-billable hours, automating billing processes, and generating insightful performance reports. While specific pricing details for individual products and services are not publicly disclosed, the various plans aim to accommodate businesses of different sizes and complexities, ensuring scalability as clients expand their teams and project portfolios. The integration capabilities allow clients to connect Scoro with other essential tools, enhancing overall workflow efficiency.In March 2021, Scoro Software OÜ raised GBP 11.8 million in a Series B funding round to bolster its global expansion efforts. The recent funding is focused on enhancing their software offerings and reaching new geographic markets. The company plans to leverage this investment to design and launch new products that cater to the evolving needs of professional service firms while targeting expansion into additional European and North American markets.

## Funding rounds

- Series B, Mar 9, 2021, $16M — Kennet Partners, Inventure, Livonia Partners, Columbia Lake Partners, Tera Ventures
- Series A, Nov 1, 2018, $5M — Inventure, Livonia Partners, Tera Ventures
- Seed, Aug 23, 2016, $1.9M — Inventure, Alchemist Accelerator, SmartCap

## Investors

- Inventure (https://capitalatlas.ai/funds/inventure) — Seed, Series A, Series B
- Alchemist Accelerator (https://capitalatlas.ai/funds/alchemist-accelerator) — Seed
- SmartCap (https://capitalatlas.ai/funds/smartcap) — Seed
- Livonia Partners (https://capitalatlas.ai/funds/livonia-partners) — Series A, Series B
- Tera Ventures (https://capitalatlas.ai/funds/tera-ventures) — Series A, Series B
- Kennet Partners (https://capitalatlas.ai/funds/kennet-partners) — Series B
- Columbia Lake Partners — Series B