Today, we’re excited to announce that Scoro has closed a $16.4 million Series B round led by Kennet Partners. Additional investors included Columbia Lake Partners and previous investors Inventure, Livonia Partners and Tera Ventures.

We’re thrilled to join an elite group of Estonian start-ups which have raised over $20 million in venture capital, such as Skype, Wise, and Bolt. Estonia continues to be a world leader in creating successful tech businesses, and we’re delighted to be part of that story.

What will we use the investment for? We’ll continue to enable creative and professional service businesses to increase their productivity and profitability, as well as minimize the distractions caused by overcomplicated tech stacks.

“Even before Covid-19 hit, many professional service businesses used as many as a dozen different platforms daily,” says Scoro’s Founder and CEO, Fred Krieger. “However, teams now realise constantly switching between tools harms productivity and results in lost data and duplicated work. We’re proud to help businesses remove these weapons of mass distraction with the support of Kennet Partners and other investors.”

The latest feature we’ve launched towards this goal is a modernization of the Gantt chart, which hadn’t evolved since the 19th Century. Scoro’s Gantt chart centralizes information into a single, holistic and real-time view – eliminating chaos and empowering managers to make proactive decisions.

Read on: Scoro Introduces First Real-Time Gantt Chart

“The dramatic disruption to working practices caused by Covid-19 should give us all pause for thought and encourage us to think about what the new normal should be,” said Dave Kellogg, a highly experienced SaaS advisor who has joined Scoro’s Board of Directors.

“The evolution of the workplace will be supported by platforms such as Scoro which enable staff to communicate and collaborate effectively, flexibly and without distraction.” – Dave Kellogg, SaaS advisor

Kennet Partners’ Managing Director Hillel Zidel has also joined our Board of Directors, which continues to be led by Chairman Martin Fincham.

“Scoro is a great example of the type of high-growth, founder-led B2B SaaS company we love to invest in at Kennet,” said Hillel Zidel. “Clients get a lot of value out of Scoro, and I’m very excited to support the company in its international expansion at a time when so many businesses are looking for productivity gains.”