Smarp raises $5M from Nauta Capital for its employee communications platform.
Smarp, a Helsinki, Finland-based company providing a software platform for businessese interested to connecting employees with professional content, announced raising €4.2M ($5.15M) from London based venture firm Nauta Capital.
The new funding will be allocated to accelerating the growth and expansion to Europe and North America as well as continuing R&D. The company plans to double the headcount to over 100 employees within the next 18 months.
Smarp, founded in and led by CEO Roope Heinilä, was launched as world’s first employee advocacy platform and has since expanded to become a SAAS provider of a personalized internal content hub to improve employee communications and professional content sharing. The platform addresses the urgent problem of disconnected and disengaged employees by allowing employees to stay engaged with their organization and industry. According to McKinsey, the average knowledge worker spends about 20% of their working time searching for and gathering information. Inadequate communication to and between employees costs large companies (with over 100 000 employees) on average €52 million each year for every company.
Prior to this deal, Smarp raised more than $5M in venture capital, from a range of Finnish investors, including Finnvera, Frontier, Jari Tuovinen, Joose Viljanen, Lasse Lehtinen, Pekka Koskinen, and Visionplus.