At a Glance
- Legal name
- Scoro Software OU
- Jurisdiction
- Estonia
- Ownership
- private
- Employees
- 201-500
- Revenue (est.)
- $10-100M
- Headquarters
- Tartu mnt 50, 10115 Tallinn, Estonia
# Scoro
Scoro
Scoro is a work-management platform built in Tallinn in 2013 by Fred Krieger. It targets professional services firms - agencies, consultancies, architecture practices - that need unified project management, time tracking, CRM, quoting and invoicing. The product serves 20,000+ users across 60+ countries.
Scoro raised a $16M Series B in 2021 led by Sage and a $30M Series C in 2023 led by Growth Equity at Goldman Sachs Asset Management. The operating entity is Scoro Software OU, registry code 12422345, with a significant commercial office in London covering UK and EU sales. Krieger remains CEO.
The product competes in a dense category (Asana, Monday.com, ClickUp) by focusing specifically on the profit-and-loss needs of billable-hour businesses - an ICP that is underserved by horizontal PM tools.
- 1
Estonia e-Residency play
Scoro is not a flashy unicorn, but it is a textbook example of Estonian capital efficiency. The company crossed eight-figure ARR with roughly $50M raised - a US equivalent would typically have consumed $100M+ to reach the same revenue. The delta comes from two Estonian-specific advantages.
- 2
Estonia e-Residency play
First, engineering cost: a senior back-end engineer in Tallinn costs roughly 40-50% of the fully-loaded cost of a comparable SF hire. Over a 10-year build, that compounds into hundreds of millions of non-raised capital.
- 3
Tax strategy
Second, the 0%-retained-profit regime: Scoro Software OU has paid effectively zero Estonian corporate tax on retained earnings for most of its life, because it has reinvested profits rather than distributed them. A UK or Delaware parent in the same state would have bled 19-25% of retained profit each year to the taxman. For a bootstrapped-to-modestly-funded vertical SaaS, that difference is existential - it is the difference between reaching breakeven on your own runway versus needing an inside round.
- 4
Capital markets path
Structurally, Scoro runs the standard dual-HQ playbook (Tallinn engineering, London commercial) without a Delaware flip. Sage and Goldman's GEA are content to hold equity in the Estonian OU directly because the cap table is clean, Estonian corporate law is EU-aligned and auditable, and the exit venue is most likely going to be a strategic acquisition (probably by Sage itself or a Vista-style PE firm) rather than an IPO.
Corporate Timeline
- Jan 2013Incorporation
Scoro founded
Founded in 2013.
Replicate Scoro's structure in 4 steps
The formation playbook, distilled from how this company was actually set up.
Estonia e-Residency play
**Scoro Software OU** (Tallinn) - Estonian operating entity.
**Scoro UK Ltd** (London) - UK sales and commercial
**Scoro UK Ltd** (London) - UK sales and commercial operations.
Additional small offices in New York and Riga
Additional small offices in New York and Riga.
Comparable Companies
Same industry. Compare structure side by side.
Recent News & Filings
- Estonian Scoro acquires Envoice to bring real-time cost visibility to professional services firms - - ArcticStartupArcticStartup · 2 Feb 2026
- Scoro acquires expense management fintech Enovice - FinTech FuturesFinTech Futures · 27 Jan 2026
- Scoro Adds AI-Powered Expense Management With Acquisition of Envoice - PYMNTS.comPYMNTS.com · 27 Jan 2026
- Scoro Acquires Envoice to Streamline Real-Time Profitability Tracking - FF News | Fintech FinanceFF News | Fintech Finance · 27 Jan 2026
- Scoro acquires Envoice to close the project cost visibility gap - Tech.euTech.eu · 27 Jan 2026
Frequently Asked Questions
Is Scoro profitable?
Scoro has publicly stated it is cash-flow positive on a unit basis. Group profitability depends on how aggressively it reinvests in sales.
Who owns Scoro?
Privately held. Founder Fred Krieger and management retain a significant stake. Major institutional investors include Sage (Series B lead) and Goldman Sachs Asset Management (Series C lead).
Where is Scoro's main office?
Tallinn is the engineering headquarters. London is the largest commercial office. Total headcount is roughly 200-300.
What is Scoro's ICP?
Professional services firms — creative agencies, consultancies, architecture and engineering practices — typically 10-500 employees managing billable work.
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