Swedish SaaS B2B platform for digital board and management team evaluations, Boardclic, has picked up €1.2 million in funding. With this round, the total funding raised by the company accounts for €3.6 million. This oversubscribed funding round was led by Subvenio, Curitas Ventures, and Brofund Equity.
Plans To Strengthen Its Operations In The UK
Boardclic will use funding for selling efforts, expanding into different European markets, growing their UK branch and building up the company.
Monica Lagercrantz, co-founder and CEO of Boardclic, said, ‘Corporate codes and regulations are increasing dramatically. This means that large organizations around the world must abide by exceptional standards of stakeholder engagement and corporate governance. Essentially, this means that modern boardrooms have increasingly demanding responsibilities and duties. There are no tools available to track compliance, effectiveness and alignment in C-suites and boards. Instead of GESG, BoardClic fills this void by promoting the G in ESG.
Mikael Ahlstrom is the Chairman of Curitas Ventures. He had positive things to say about BoardClic’s progress thus far. He also mentioned the impressive improvements BoardClic made in helping many European companies improve their boardroom and management processes. Mikael decided to partner with BoardClic because of their emphasis on digitalization and data collection— he believed this would create real and tangible value for businesses. Additionally, Mikael believed that BoardClic’s commitment to environmental sustainability and growth would only increase with their partnership with Curitas Ventures.
Female-Founded Board Evaluation Platform
In 2018, Stockholm-based company BoardClic was founded by Monica Lagercrantz and Malin Lombardi. Its mission is to provide transparency and sound corporate governance to all organizations— regardless of size, ownership or industry. BoardClic helps companies make better decisions with actionable insights gleaned from data-driven and cost-effective evaluations of top corporate functions. This helps companies align their top teams, establish transparency in corporate governance and choose the best options for their organization.
BoardClic’s solution provides customers with digital tools for measuring and analyzing data. This allows them to compare results over time as well as other companies in their sector. Furthermore, these tools are cost-effective and efficient; they provide a library of best practices and benchmarks for customers to use.
BoardClic’s product is sold through a subscription-based model. This allows customers to use the product as much as they want without restrictions. Keeping this in mind, BoardClic has amassed a significant customer list. Around 250 companies purchase their product, including Tele2, Channel 4, Husqvarna and HGCapital Trust. Additionally, customers have witnessed an average 200% year-on-year growth.