Engagement — Platform Due Diligence
Code & Co. provides Tech & Product DD to Kennet Partners on its investment in Scoro, a provider of work management software for collaborative teams in the professional services and creative industries
Code & Co. provides Tech & Product Due Diligence to Kennet Partners ahead of its investments in Scoro, a creator of innovative tools which enable professional service businesses to improve their productivity and profitability.
- Scoro offers a SaaS work management platform, which facilitates project management, time and resource management, sales, billing, and workflow automation.
- Kennet is an experienced investor with approximately $900 million in funds under management
- Code & Co. led Tech & Product DD for the investor.
Founded in Estonia in 2013, Scoro offers its scalable solution for increasing margins and data-driven decision-making across all areas of work to thousands of businesses in 60+ countries. Scoro is headquartered in London, with additional offices in Tallinn and New York, and has been listed in Deloitte’s Technology Fast 50 list and the Inc. 5000 list.
Unlike traditional single-use solutions, Scoro is scalable across an entire business – from projects and sales through to billing and reporting. Its utility became exceedingly obvious during Covid-19 as business leaders realized that requiring teams to constantly switch between tools harms productivity, creates distractions, and results in duplicated work. Scoro aims to help businesses remove these weapons of mass distraction.
Scoro’s latest feature is a modernization of the Gantt chart, unchanged since its invention at the turn of the 19th Century. Scoro’s Gantt chart centralizes information into a single, holistic and real-time view – eliminating chaos, enabling proactive decision-making and making overbooking a thing of the past. It ensures that teams stay focused and on the same page even as plans evolve.
Kennet Partners is a leading international growth equity firm that invests in high-growth companies. Its contribution to this latest round of investments will help Scoro move forward with its 2021 product roadmap. The roadmap includes features such as a new customer portal, which will enable Scoro users to create guest profiles for their customers who could then view projects, comment on tasks, and download information such as quotes and invoices themselves.
This transaction exemplifies Code & Co.’s sector expertise in deep-tech investments.