Winningtemp to raise SEK 157 million in a round led by Frog Capital and Bonnier Ventures

Winningtemp, a Gothenburg, Sweden-based SAAS developer of an employee engagement software platform, announced that it closed a SEK 157M ($17.7M) capital investment round.

The money was raised from investors led by Frog Capital and Bonnier Ventures and will be used for international expansion, with a focus on the British market, and technical development.

Shirin Dehghan, Operating Partner at Frog, joins the board of Winningtemp, and will also be serving as interim Chair of the board.

Winningtemp, founded in 2014 by CEO Pierre Lindmark and Mathias Hansson-Fredlund, developed an AI-based employee engagement software platform, which helps business leaders monitor their teams’ engagement rather than their activity.  The solution not only provides real-time insights but also forecasts and recommendations that help strengthen engagement, improve performance and increase productivity.

The company has 60 employees and four offices in Gothenburg, Stockholm, Oslo and London, and more than 600 customers which generated in 2019 sales of SEK 28 million ($3.2M).

Prior to this round, the company raised about $4 million, last round at the beginning of 2019, of about $3.7M from Norrsken Foundation, Chalmers Ventures and Almi Invest.