Raceone grabs $1.3M for a social app for sport enthusiasts

Sweden Investments 25 June 2018
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Raceone, a Gothenburg, Sweden-based company managing a mobile network for sharing and following people involved in sports races, announced in a press release securing SEK 12M ($1.3M) in capital investment from new and existing investors. The money will be used for expanding the service in countries outside Scandinavia.

Raceone, founded in and led by CEO Marlene Sjöberg, developed a mobile social network that makes it easier for participants, family and spectators to connect during race events. The solution is used for events such as Göteborgsvarvet, Vätternrundan, Vansbrosimmet, Rom Marathon, Holmenkollenstafetten and its biggest demand are for sports like running and cycling.

The company lost SEK 3M in 2017, at a SEK 1.63M ($180k) turnover. Raceone raised about $850k in capital investment from investors including Almi Invest, Chalmers Ventures, Vätterledens Invest AB and angels Johan Attby and Rikard Steiber.