Portclick, which sells digital ratings and board analytics on subscriptions, raises SEK $ 16 million in a round of sowing led by venture capital firm Subvenio Invest.
“Evaluation provides the basis for an optimal team structure. It is important to stay away from old networks,” says co-founder and CEO Monica Loggerrands.
Monica LaGergrands has 25 years of experience as a recruitment consultant and holds a number of CEO and team positions in Swedish and international organizations.
Over the years, she has continued the many recruitments she has made. These were processes that cost a lot of time, effort and money to implement by the companies involved, but then that level did not meet the expectations of the candidates.
“Many companies do very little to 1 + 1 3. Expectations often go unfulfilled, but at the same time it’s hard to know,” says Monica Lagergrants.
So the portclick idea. This is because even though there are plenty of consultants who want to evaluate the work of the board and board, it can be expensive and take a lot of time. Instead, Monica Lagergrants saw the need for digital solutions and data analysis to evaluate boards.
“It’s time to reach the Data and Digitization Board room, because it’s been a matter for companies for a long time.
Boards often have a tight agenda and little time. At the same time, the ratings mean that the work will be more efficient, as Monica Lagergrands has already tested its effects on the recruitment agency she previously ran.
Monica Lagergrands brought in Malin Lombardi, one of her hired advisors.
“The good thing is, we already had a lot of data from the consultation from day one,” he says.
Initially, the company was funded by some small business angels investments.
“Seven of us have come a long way, and this year we have hired a few more. Today we have ten employees in the UK, including two.
This year, PortClick acknowledges that it will be up to SEK 10 million in continuous revenue from subscriptions. Prices vary between customers and range from 6,000 to 14,000 euros per year. In total, the company has more than 70 active subscribers.
“We doubled that number next year,” says Monica Lagergrants.
In addition to direct sales, PortClick also works with partners such as Portal Portal AdminControl and UK-based consulting firm Grant Thornton.
To further recruit and expand internationally, PortClick is now raising SEK 16 million in a seed round from venture capital firm Subvenio Invest. Current owners such as venture capital firm Curitas Ventures, investment firm Brofund and the company’s founders also participate in the financial round.
Today companies need to be proactive in attracting board members, Monica Lager believes Grants ratings will help. Because with them you can show the work you do on board.
Many countries have increased control over board evaluation. The United Kingdom is a country that has tightened the rules and sees the best opportunities on the portfolio.
“It no longer requires expensive and complicated processes to follow the rules, instead it takes time for real board work.”
PortClick has 80-100 different questions and ratings that responders can answer. Based on this, various analyzes of the work can be done and PortClick will evaluate the board from an ESG perspective.
“What we do with the outside world is a ‘benchmark’ in a field or area of geography. We break anonymous data, for example, you can evaluate the consensus between the CEO and the team.
The company’s competitors are consultants and the leader who does the training. There are others who create similar solutions, says Monica Lagergrands, but believes Portglick is the only independent player to compare data to the outside world.
“Creating a professional and modern data-based assessment lays the foundation for an optimal team structure. It is important to stay away from old networks and other existing groups of friends,” he says.
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