Humap Software raises EUR 1.3M for growth.

Humap Software, a Helsinki, Finland-based developer of a web-based engagement and collaboration platform, announced raising EUR 1.3M ($1.4M) in an equity investment round.

The money comes from Tekes, Midinvest, 9 local business angels as well as from University of Jyväskylä’s investment fund UniFund and will be used to support the growth and internationalization.

Angel investors behind Humap Software are Jussi Heimonen, Lennu Keinänen, Pasi Valoranta, Tomi Hilvo, Seppo Sneck, Juha Harju, Markus Laurio, Tuomo Falck and TakeOff Partners’ Markko Vaarnas.

The state-owned funding agency Tekes contributed with almost 600 000 euros to the deal.

Humap Software is a spin-off of the Finnish consulting company Humap, which owns 50% of the company, and has developed REAL, an online engagement and collaboration platform designed to replace in-person workshops across distributed teams and drive productivity.

The company, led by Ilkka Mäkitalo, has 13 employees working from Finland, Sweden and Australia and recorded around 625 000 euros in revenue in the year 2016.