Snapmentor raised NOK 2 million from StartupLab and Sagene Tech Ventures

Snapmentor, a Bergen, Norway-based software developer for education businesses, completed a funding round of NOK 2M ($230k).

The money was raised from local investors from Norway, including StartupLab Founders and Sagene Tech Ventures. The funds were complemented by an additional NOK 1.5 million in grants from Innovation Norway, as well as Skattefunn.

Jostein Magnussen from Sagene Tech Ventures will join the board of directors.

Snapmentor, founded in 2019 by CEO Frikk Fossan, Eirik Hernes Berre and Jens Aarre Seip, develops B2B SAAS for education providers aiming to set up on-demand study tools. The company works with customers including NTNU , the Norwegian School of Management , BI and the University of Tromsø and has an ARR of NOk 500k ($60k).