Forecast announced raising $5.5m in capital in a round led by Crane Venture Partners.

Forecast, a Copenhagen, Denmark-based SAAS developer for project management, announced the completion of a capital raise of $5.5M.

The money round was led by Crane Venture Partners and included contributions from existing investors SEED Capital and Heartcore. Funding will be used to grow the company's operations, hiring more people and opening a new sales office in London in 2020.

Forecast, founded in 2016 by Danny Larsen and CEO Dennis Kayser, built an AI-powered project management solution that automates manual tasks and adds predictive capabilities as is able to deliver precise forecasts of how many resources you need to spend on a given project by recognizing patterns from earlier projects.

Forecast has 38 employees and previously raised about $4M from outside investors.