Swedish board evaluation platform BoardClic has raised €1.2 million “to boost next phase of international expansion.”
BoardClic, a Swedish SaaS B2B platform for digital board and management team evaluations, has successfully acquired €1.2 million, according to an update shared with CI. The funding will be used “to consolidate the company’s sales team, expand into additional markets across Europe, and build out the company’s UK operations.”
The second seed funding round, which was oversubscribed, was “led by Subvenio, Curitas Ventures and Brofund Equity.” This latest investment round “means BoardClic has raised €3.6 million to date.”
Monica Lagercrantz, Co-founder and CEO of Boarclic, said:
“Businesses must now follow an ever increasing amount of corporate codes and regulations. This, in turn, means that global organisations must maintain exceptional stakeholder engagement and corporate governance structure, in order to maintain high governance standards. The modern boardroom is increasingly dynamic, and tasked with a growing and complex responsibility. The market lacks sophisticated, data-driven, cost-efficient tools to track compliance, effectiveness, and alignment in boards and the C-suite. BoardClic, promoting the G in ESG, fills that void.”
BoardClic’s tech-led solution “provides a library of best practice formats and benchmarking that let customers conduct advanced digital evaluations that are time and cost-efficient and meet local regulations.”
By continuously measuring and analysing data, customers can “compare and evaluate their results both internally over time as well as against relevant external companies and sectors.”
Since the platform first launched in 2019, BoardClic has “built an impressive customer portfolio consisting of around 250 customers, including Channel 4, Tele2, HGCapital Trust, and Husqvarna, and the company has experienced an average year-on-year growth of 200%.”
The product is “sold via a subscription-based model, giving the customer and its users unlimited access to the product.”
Mikael Ahlström, Chairman of Curitas Ventures, said of their investment in BoardClic:
“The progress that BoardClic has made to date, in helping a wide array of companies across Europe to improve and streamline their processes at board and management team levels, has been impressive. Given BoardClic’s vision of leveraging digitalization and relevant data to create real tangible value for boardrooms, and its commitment to ESG, our decision to join forces with them was a natural one. We look forward to supporting the team throughout the next stage of its growth, expanding into new markets and reaching new heights.”
