Sweden’s BoardClic raises €1.6 mln to fund growth

BoardClic, a Swedish company selling a SaaS-based product for digital board and management team evaluations, said it has raised a 1.6-million euros in a seed round led by Subvenio Invest to finance investments in product development and to accelerate the company’s rapid expansion both in the Nordics and internationally.

All existing owners such as Curitas Ventures, Brofund and the company’s founders also participate in the financing round.

Evaluations and analysis of boards and management teams have traditionally consisted of manual elements and consultant-heavy processes. The possibility of a transparent, automated and data-driven process has also been limited. In parallel with the current digitalisation trend, the demands on sound corporate governance and relevant competence of boards and management groups have increased, which has further raised the need for a modern digital evaluation process.

BoardClic sells a SaaS-based product for digital evaluations of boards and management teams.

“It has only been a matter of time until digitalisation and relevant data should enhance the board work. At BoardClic, we have made this happen, as we give boards an opportunity to focus on what is really important, and gain an understanding of how they can increase the degree of efficiency and value-creation. It is important to work regularly and frequently to analyse the board’s performance, in a time-efficient manner of course,” said Monica Lagercrantz, founder and CEO of BoardClic.

BoardClic was founded in 2018 by Monica Lagercrantz, CEO, and Malin Lombardi, CPO. Since its product launch in 2019, BoardClic has built a customer portfolio consisting of around 70 customers, including 3i, BGF, Bristol Water, Destiny Pharma, and Enquest.