Sqore raises SEK 32M, still looking for growth.
Sqore, a Stockholm, Sweden-based company providing a competition platform for people looking for a job, secured SEK 32M ($4M) in an investment funding round.
The money comes from angel investors including Mats Gabrielson, Jeremias Andersson and Pär Lager. It should be noted that with this round existing investor Northzone decided to dillute its share participation due to the slower growth rate of the company.
Sqore, founded in 2008 and led by CEO Niklas Jungegård, provides a platform for certifying knowledge through competitions. As such, the company acts as a connector of people to educational and career opportunities through skill-based competitions.
In 2016, Sqore accounted for SEK 28.7M ($3.6M) in turnover at a loss of 10M. In 2015 revenues were about the same and losses just 5M.
Prior to this deal, Sqore raised about $7M in risk capital.