ftrack completes a $3.5M investment round from Alfvén & Didrikson.
ftrack, a Stockholm, Sweden-based company providing a cloud-based project management solution, announced completing a $3.5M investment round.
The funding was supported by Swedish investor Alfvén & Didrikson, who will have two board seats, taken by Miriam Grut Norrby and Maria Åhr.
ftrack, founded in 2012 and led by CEO Fredrik Limsäter, developed a cloud-based project management solution used in the media & entertainment industry to help teams with the creative production process.
The tool was originally developed in 2008 by the in-house R&D team at Fido (now known as Goodbye Kansas) as a solution to their need to expand to larger projects with the necessity of a technical pipeline to support them.
The company has customers in 60 countries, and is profitable, with revenues of SEK 11.5M ($1.3M) in 2017.