Screenful secures €305k seed funding to help companies optimize collaborative project delivery
Business intelligence dashboard secures funding for expansion
HELSINKI, Finland (September 6th, 2018) – Finnish SaaS company Screenful has raised €305,000 in seed funding to help companies improve the efficiency and delivery of collaborative projects with their business intelligence dashboard. The funding round was led by Finnish venture capital company Gorilla Capital and the Arctic15 Funding Program consisting of a syndicated deal from 14 angel investors from FiBAN and the Nordic Angel Program.
Screenful develops visual dashboards and automated reports to facilitate the efficient delivery of digital products and services. Screenful differs from other business intelligence tools on the market with its focus on production metrics such as lead cycle times or team progress updates that are automatically analyzed based on the data from popular team collaboration tools such as Atlassian Jira and Trello. Its dashboards help companies find bottlenecks in their workflows which makes project delivery more fluent and predictable.
Large projects often involve complex workflows and communication chains that are hard to manage and keep up-to-date. “We’ve found that over two-thirds of software projects fail because of a lack of transparency and communication,” says Sami Linnanvuo, CEO of Screenful. “Most companies still rely on tracking only sales and marketing metrics. The production process is largely a black box. The management has no answers to questions like what is the likelihood of a project arriving on time or what are the real causes of delays. Our aim is to help companies to optimize their most important asset: the value delivery pipeline,” continues Linnanvuo.
The Arctic15 Funding Program was announced as a funding track similar to other startup conference investment tracks but with a small twist: instead of deciding to invest based on a short pitch, business angels carefully evaluated startups in face to face meetings. Screenful was chosen above 270 other companies all vying for the prize fund.
"Screenful has a great product and excellent, coachable team,” says Reima Linnanvirta, one of the Nordic Angel Program’s lead investors. “For an angel investor, it is a case where you can add value by your skills, not only by the funds you bring to the table," concludes Linnanvirta.
“Screenful has an extremely capable team that given its size has managed to attract an impressive customer base,” says Petri Lehmuskoski, Partner and Co-founder of Gorilla Capital. “We are proud to help the company become one of the leading global analytics providers for tracking enterprise value streams,” summarizes Lehmuskoski.
Founded in 2013, Screenful has hundreds of customers worldwide, of which, about half are US companies, and range from startups to stock listed companies. The company has raised total funding of €750k and is located in both Finland and Armenia.
** Under embargo until September 6th, 2018, 10AM EEST**
For additional information:
CEO Sami Linnanvuo
+358 505 181 074