Forecast, a Copenhagen, Denmark-based AI-powered project management software company, raised $5.5m in funding.
The round, which brought Forecast’s total funding to $10m, was led by Crane Venture Partners with participation from existing investors SEED Capital and Heartcore.
The company intends to use the funds to hire people across engineering, product, sales, customer success and marketing, growing its 38-person team and opening a new sales office in London early next year.
Led by founder and CEO Dennis Kayser, Forecast provides a project management software platform for medium-sized businesses to collaborate, manage resources and predict future capacity needs.
The solution automates manual tasks, adds visibility and provides predictive capabilities to project managers, reducing the risk of human error. By using the software, customers can reduce their administrative tasks and gain insights into project risk, resource management and more.
For team members, Forecast helps people structure their day, track their time, collaborate and see what work is going on. Forecast fits into people’s existing workflows by integrating with widely used business collaboration applications, including Jira and Slack, development platforms like Github and GitLab, mail apps from Apple Mail, Gmail and Outlook, finance apps like Xero and Quickbooks and Salesforce CRM.
Founded in late 2016, the company has enabled customers to manage more than 40,000 projects with more than 1,000,000 tasks across its global customer base.