Leeroy secures $3M in an investment round led by Collector Ventures and Zenith Venture Capital.
Leeroy, a Stockholm and Sundsvall-based company providing software as a service solutions for restaurants, announced securing SEK 25M ($2.8M) in capital investment.
The funding round was led by existing investor Zenith Ventures together with Collector Ventures and included Almi Invest and Norrlandsfonden. The money will be used to recruit additional developers to their offices in Sundsvall and Stockholm to scale the product, accelerate development, and launch the product internationally.
Leeroy, founded in 2007 and led by CEO Per Nord, developed a self-learning, AI-driven data platform that helps restaurant chains monitor and control their business in real-time via a mobile-based point-of-sale system.
The company has 36 employees and registered about SEK 45M ($5M) in sales for the 2017 fiscal year from customers including Vigårda, Urban Deli, Svenska Brasserier, Holy Greens and 1889.
Prior to this investment round, Leeroy raised SEK 15M from Zenith in 2016.