Quorso announces a $5.2M Series A to fund global commercial expansion
Quorso, the intelligent platform for managing business performance improvement, announced that it has closed a $5.2M Series A funding round, led by OMERS Ventures and joined by existing investor Hambro Perks.
Quorso will use the fundraising to accelerate its global commercial expansion. The Quorso platform makes performance improvement effortless; by surfacing insights, taking action, measuring impact and scaling success — all in a single tool. Harry Briggs, managing partner at OMERS Ventures, will join Quorso’s board of directors.
“Every business in the world is focused on improving performance. And as data gets richer and more accessible, there is no shortage of smart insights. But embedding these insights effortlessly into your operational management process, so that the right person takes the right action and drives extra revenue or saves costs, is hugely challenging. That’s what we do.” said Quorso Founder & CEO, Julian Mills.
Quorso combines sophisticated, powerful algorithms behind the scenes with an easy, intuitive user interface over the top, making it quick to grasp, painless to implement and rapid at delivering performance improvement results. The platform integrates directly with a wide range of systems, including AWS, Azure, Dropbox, MySQL, Oracle, Hadoop, Google Cloud, Microsoft Access and Teradata, and is agnostic to data formats and timeframes (Cloud, .XLS, .CSV, .TXT, SFTP, etc.).
82% of all Quorso’s users utilise the platform on a weekly basis to generate net new revenue opportunities, optimize team efficiency, and improve business operations across a breadth of verticals, including retail, transportation and hospitality. Quorso’s existing customers include National Express, Edwardian Hotels, and Compass Group.
“This investment will enable us to scale rapidly in global markets as well as take advantage of our worldwide first-mover status in the Augmented Analytics category.” said Dan Slowe, Founder and CPO. “We are delighted to have OMERS join us as a strategic partner with their global portfolio and long-term approach.”
Harry Briggs, OMERS Ventures managing partner, added: “We believe most companies are a fraction as productive as they could be. Despite vast IT investment, productivity has barely budged, because it’s so hard to translate the myriad of insights from big data into correctly-prioritised actions at every level of an organisation. We believe the Quorso team has the potential to change that — empowering every employee directly to their phone, and bringing a new level of transparency and continuous improvement to management.”George Davies, Partner at Hambro Perks said: “We are delighted to continue to back Julian and Dan in building Quorso. We believe that Quorso’s ability to combine the identification of insights from big data with software that translates those insights into practical actions has the potential to unleash a new wave of productivity for businesses across the globe.”
Quorso is an intelligent performance management platform that combines powerful financial algorithms with an easy and intuitive user interface. Opportunities are surfaced through granular analysis and managers are then guided and coached to act on them. Quorso measures the exact improvement driven by each action and builds the company’s playbook over time, based on what it sees is working. Quorso fits seamlessly into the existing operational management process and gives financial leadership unprecedented visibility. Founded in 2016, by ex-McKinsey partner and consultant duo, Julian Mills and Dan Slowe, Quorso was voted one of the UK’s top 50 startups in 2019. The privately funded company has offices in London, New York and Kyiv. For more information visit www.quorso.com
For further information please contact:
Sophie Slowe on the Quorso press team: firstname.lastname@example.org
Nicole Kelly, Community Director, OMERS Ventures: email@example.com
About OMERS and OMERS Ventures
OMERS is one of Canada’s largest defined benefit pension plans, with $97 billion in net assets as at December 31, 2018. With employees in our offices in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe, OMERS invests and administers pensions for almost half a million active, deferred and retired employees of 1,000 municipalities, school boards, libraries, police and fire departments, and other local agencies in communities across Ontario.
OMERS Ventures currently manages $1 billion and has made more than 40 investments in disruptive technology companies across North America and Europe. www.omersventures.com.
About Hambro Perks
Hambro Perks (www.hambroperks.com) is a London based venture firm that backs and builds leading technology companies. Founded by Dominic Perks and Rupert Hambro CBE, Hambro Perks invests at an early stage and helps companies to scale with capital and strategic support. The firm invests from both its permanent capital and Co-Investment EIS Fund that is open to high net worth investors and is soon to launch other funds. Hambro Perks has backed more than 40 businesses such as the digital pharmacy Echo, the geocoding system What3Words, and the Muslim matchmaking app Muzmatch.