Work management tools for Agile project coordination.

Exit Year	Multiple	IRR
2022	x 1.4	24.4%

Buyer
TA Associates, Name 2

Favro work management tools are based on Agile principles and used by game developers and other organizations for cross-team development and project coordination.

Status	Founded	HQ
Active	2017	Sweden

Investment	Vertical	Theme
2021	Collaboration	Future of Work

Co-Investors
Name 1 Name 2

Why did we invest in Favro?

Favro is a raising star within team collaboration and Agile development. At the time of investment, the company had 25,000 users worldwide, with 30% of revenues in North America. In an otherwise crowded collaboration software market, Favro stood out as doing things differently, building a differentiated offering that solves real customer problems.

“It’s unusual to see a young SaaS startup reaching a level of product maturity to be able to satisfy the demanding needs of enterprise customers worldwide. Favro is already punching above its weight and by many considered a rising star in Europe. We see huge potential to take on competitors in the North American market.”

Lars Jensen
Partner @ Scale Capital

What does Favro do?

Favro transforms any organization into an Agile business by empowering all kinds of teams to work autonomously, while also helping leaders align all work towards company’s key objectives.

With Favro teams in marketing, product development, operations, and their leaders and executive management, get a single place for planning, documentation, and collaboration. Favro supports multiple views on planning with Kanban flows, spreadsheet style, and work scheduled on a timeline.

It is a cloud service living up to enterprise-level demands on security and IT governance. Favro connects to the whole ecosystem of tools like Slack, Google Calendar, Microsoft OneDrive, GitHub, Jira, and much more.

The tool features automated supplier onboarding, invoice management, cash flow management and is made in partnership with Mastercard in order to simplify B2B purchases, payments, and compliance through business cards. With Mazepays solution, corporates can simplify their payments via virtual cards and ensure transparency, compliance, and efficiency when it comes to long-tail spend.