Spring Capital

Spring Capital is a venture capital firm founded in 2008 and based in Tallinn, Estonia. The firm specializes in seed investments, primarily targeting technology-driven startups in the Baltics and Scandinavia. Spring Capital typically invests between EUR 0.1 million and EUR 0.3 million in equity per transaction, aiming for minority stakes in the companies it supports. The firm seeks to partner with exceptional founders and is particularly focused on scalable startups that have the potential for significant growth. In addition to seed investments, Spring Capital also engages with growth companies that are close to, or already achieving, positive EBITDA, making larger investments of EUR 300,000 to EUR 700,000 for minority shareholdings. The firm invests personal capital from its management team, emphasizing a hands-on approach to nurturing its portfolio companies.

Henri Treude

Founding Partner

26 past transactions

Salesforge

Pre Seed Round in 2024
Salesforge is a comprehensive sales execution software designed to enhance the effectiveness of sales teams by improving email deliverability and personalizing cold outreach on a large scale. The platform employs advanced AI and machine learning technologies to optimize critical sales processes, allowing users to send unique emails in multiple languages while ensuring spam protection. By integrating various functionalities like mailbox connections and unified revenue management, Salesforge enables both small and large sales teams to streamline their email activities and boost conversion rates. This all-in-one solution empowers clients to effectively manage their sales outreach and maximize revenue potential.

Crisp

Series B in 2024
Crisp, Inc. is a technology company based in Brooklyn, New York, specializing in demand forecasting software tailored for the food industry. Founded in 2018, Crisp connects consumer packaged goods (CPG) companies to real-time point-of-sale and inventory data from over 40 retailers and distributors. This integration allows Crisp to deliver actionable insights and analytics through business intelligence tools and interactive dashboards. Nearly 6,000 CPGs utilize Crisp’s platform to gain critical sales and supply chain insights, helping them streamline operations and enhance their market performance. The company aims to minimize waste across the food supply chain while equipping brands and retailers with the necessary data to facilitate growth.

Uniify

Seed Round in 2023
Uniify assists financial institutions in quickly, easily, and securely onboarding new customers. The objective is to manage all essential sources of financial data in a single, integrated system that assures compliance while accessing data and onboarding consumers.

Vok Bikes

Venture Round in 2022
Vok Bikes build heavy duty cargo bikes and rent them out to on demand delivery companies ,their couriers no surprises,no extra fees. They are Currently active in Tallinn, Vilnius, and London.

FoodDocs

Venture Round in 2022
FoodDocs helps to create and maintain food safety management systems more easily. We help you to spend less on compliance and staff training and to make sure that your all business units are following the same food safety standard. FoodDocs has than 7000 customers from 59 different countries who confirm that this solution helps them to save at least 1 working day per each week on food safety-related actions. Putting up your food safety system is now 500 times faster than you suppose to have since now.

EyeVi Technologies

Seed Round in 2022
EyeVi is a geospatial AI-powered digital data production company. We enable road consultants and road asset managers constant overview of the entire physical road network with maximum detail through our AI-powered automated 3D mapping platform. Road defects, road signs, safety barriers, markings, crossroads, and so on – everything necessary for predictive road maintenance, road asset and traffic management, safety auditing, and autonomous transportation.

Wonderway

Seed Round in 2021
Wonderway is a sales performance platform that enhances revenue generation by optimizing sales training for teams. The company specializes in onboarding, certifying, and upskilling sales representatives through its data-driven software. This platform employs machine learning to tailor training programs to the specific skills that sales reps need to develop, facilitating quicker ramp-up times and improved deal closure rates. By providing an automated e-learning dashboard, Wonderway connects employees, managers, recruiters, and trainers, offering personalized learning plans, video tutorials, and digital resources. The platform also delivers real-time performance review reports and training efficiency metrics, helping organizations foster a learning culture that promotes employee development and retention.

Fractory

Series A in 2021
Fractory Ltd is a company that operates an online platform for sheet metal fabrication, allowing users to upload CAD files and connect with partner service providers based on availability, location, and capabilities. Founded in 2019 and based in Manchester, United Kingdom, Fractory offers a range of services including laser cutting, plasma cutting, sheet metal fabrication, tube laser cutting, oxy cutting, waterjet cutting, metal bending, and surface treatment. The platform serves engineering companies in the United States, the United Kingdom, and Nordic Europe, facilitating on-demand manufacturing and enabling quick access to custom laser-cut parts, regardless of batch size. Fractory aims to streamline the manufacturing process and promote sustainability within the industry.

Turing College

Seed Round in 2021
Turing College is an online data science school that caters to individuals at various levels of expertise. The institution offers a pay-when-employed model, allowing students to learn at their own pace through a peer-driven remote learning platform. The curriculum is co-created with tech companies, ensuring that it is relevant to industry needs. This collaboration also enables companies to receive real-time updates on students' performance, facilitating quicker hiring decisions. By utilizing an income share agreement, Turing College allows students to pay for their education once they secure employment, making data science training more accessible.

Remato

Seed Round in 2021
Remato is a mobile-first platform designed for construction management, enabling small and medium-sized construction businesses to efficiently manage their projects, personnel, and assets. The software offers a comprehensive suite of tools for budget estimation, task planning, time management, and field communications, facilitating effective work tracking and providing real-time project overviews. Additionally, it includes features for tool management and condition tracking, allowing users to oversee multiple aspects of their operations in a single, integrated system.

Vembla

Seed Round in 2021
Vembla offers a selection of 2000+ products - from our own 'darkstores'. What you need, when you need it. Groceries, pharmacy, beauty and more.

Tjommi

Pre Seed Round in 2021
Tjommi is a consumer-focused application that assists users in obtaining refunds when prices drop after a purchase. By retrieving receipts from customers' emails and continuously monitoring market prices, Tjommi ensures that users are notified of any price reductions. The platform simplifies the refund process by contacting retailers on behalf of consumers to secure a price difference refund. This service allows customers to shop with greater confidence, knowing they have support in achieving fair pricing and potential savings. Tjommi's technology-driven approach helps users save both time and money in managing their purchases.

Fairown

Seed Round in 2021
Fairown operates a buyback platform that facilitates a financed product subscription model, offering customers convenient options for products they no longer need. By providing an efficient way to return items, Fairown supports businesses in refurbishing, reselling, or recycling these products, thereby promoting sustainable consumption practices. The platform enhances customer choice and simplifies the process of upgrading to new products, aligning with the responsible consumption and production goals outlined in the UN Sustainable Development Goals. This model not only reduces waste but also encourages a circular economy, making it easier for consumers to manage their products efficiently.

Outfunnel

Pre Seed Round in 2020
Outfunnel is a company that specializes in revenue marketing automation, providing tools designed to streamline sales and marketing workflows. Their platform synchronizes data, scores leads, and assists users in determining the next best actions for each contact. Outfunnel's offerings include automation of email marketing campaigns and tracking of email and website behaviors from initial click to conversion. This functionality allows clients to gain valuable insights into their leads, helping them understand which messages and content are most effective in closing deals. By automating these processes, Outfunnel aims to enhance business branding and improve overall marketing efficiency.

Wisboo

Seed Round in 2020
Wisboo is an Estonia-based company founded in 2014 that specializes in digital education solutions. The company provides a platform for content creators and small to midsize educational businesses to easily develop and sell online courses. Its offerings include customizable templates, tools for content digitization, and multi-device course delivery, ensuring a modern learning experience. Wisboo also facilitates payment processing and back-office operations, allowing educators to focus on teaching while maximizing revenue potential. By enabling the reuse of existing content and adding a digital distribution channel, Wisboo helps educators reach a broader audience with minimal investment, thereby enhancing business margins and fostering growth in the digital learning landscape.

Teamscope

Convertible Note in 2020
Great things in business are never done by one person, but by high-performing teams. Teamscope was founded by leading executive search professionals, data scientists, and tech entrepreneurs to help managers make better hiring decisions and build more engaged, high-performing teams. The teamscope platform combines big data analytics with scientific testing to analyze teams and help team leaders make better hiring decisions. Our unique algorithm analyzes the values, personality characteristics, and core competencies of team members to first profile the existing team. Based on that, the platform recommends what characteristics to look for in a candidate and evaluates how well each candidate fits in with the role and the team. The platform then generates a detailed behavioral profile and interview guide for each candidate to help the hiring manager choose the best person for the team.

Ready Player Me

Seed Round in 2020
Wolf3D specializes in creating realistic 3D avatars and models for virtual reality (VR) and augmented reality (AR) applications, as well as for gaming. Founded in 2014 and headquartered in Tallinn, Estonia, with an office in Los Angeles, the company employs advanced 3D scanning technology to generate detailed avatars from smartphone captures. Their platform enables the 3D printing of human sculptures and the creation of anatomical models for surgical planning, thereby enhancing the capabilities of developers in integrating 3D content into games and VR environments. Wolf3D has also operated its scanning technology in various public venues, including airports and museums, expanding its reach across multiple industries.

React & Share

Seed Round in 2020
React & Share Oy is a Finnish company specializing in content analytics software that delivers real-time insights to enhance content strategy. Established in 2015 and headquartered in Helsinki, the company offers tailored solutions for various sectors, including healthcare and government. Its platform enables users to gather direct feedback on web content through customizable reaction buttons and open text fields, allowing for the identification of unclear or outdated information. Additionally, React & Share provides automatic reporting and analytics tools that empower content developers and strategists to measure sentiment and improve engagement, ultimately driving better communication and content quality.

Fractory

Seed Round in 2019
Fractory Ltd is a company that operates an online platform for sheet metal fabrication, allowing users to upload CAD files and connect with partner service providers based on availability, location, and capabilities. Founded in 2019 and based in Manchester, United Kingdom, Fractory offers a range of services including laser cutting, plasma cutting, sheet metal fabrication, tube laser cutting, oxy cutting, waterjet cutting, metal bending, and surface treatment. The platform serves engineering companies in the United States, the United Kingdom, and Nordic Europe, facilitating on-demand manufacturing and enabling quick access to custom laser-cut parts, regardless of batch size. Fractory aims to streamline the manufacturing process and promote sustainability within the industry.

FleetFox

Seed Round in 2018
FleetFox is a tech-driven managed marketplace that provides comprehensive fleet services tailored for the car-sharing and B2B fleet industries. Operating in 11 cities across six countries, including the Baltics, Germany, Belgium, and the Czech Republic, FleetFox offers a range of services such as washing, refueling, charging, relocation, and maintenance. This integrated approach enables large fleet clients to reduce operational costs by up to 35%. The platform automates over 25 internal processes, allowing for efficient market entry with minimal staffing and achieving profitability within three months of launch in new cities. FleetFox, which initially focused on B2C mobile car washing, successfully pivoted in March 2023 to cater to the B2B market, positioning itself within the €13 billion car-sharing sector and the broader €40 billion B2B fleet market. The company aims to lead the industry by providing scalable and cost-effective solutions that promote profitability and growth.

PromoRepublic

Seed Round in 2017
PromoRepublic is a provider of a software-as-a-service (SaaS) platform focused on online digital promotion and social marketing. Founded in 2014 and based in Kyiv, Ukraine, the platform assists users in acquiring and engaging customers through various promotional mechanics, including contests and sweepstakes. It enables marketers to launch campaigns across multiple social media channels, such as Facebook and Twitter, as well as through mobile applications and standalone websites. The company's solutions cater to a diverse clientele that includes digital agencies, small and medium-sized enterprises, large corporations, and retail brands. PromoRepublic's technology is designed to enhance online visibility, maintain brand consistency, and streamline marketing efforts for multi-location businesses and agencies.

Deekit

Seed Round in 2017
Deekit OÜ is a company based in Tallinn, Estonia, that specializes in an online virtual whiteboard designed for collaborative visual communication. Founded in 2012, Deekit's platform allows users—including designers, developers, entrepreneurs, freelancers, educators, and students—to engage in real-time collaboration by sharing various types of content such as drawings, text, and images. The whiteboard serves as a versatile tool for brainstorming, problem-solving, and knowledge sharing across multiple applications, including meetings, design, business, engineering, and education. By facilitating infinite collaboration, Deekit enhances the user experience and supports effective teamwork among distributed teams.

Clipman

Seed Round in 2016
Clipman is a video creation platform designed for e-commerce stakeholders seeking to produce high-quality product videos quickly and affordably. Founded in 2016 and headquartered in Tallinn, Estonia, the company utilizes an AI-based engine to generate videos from text in seconds, significantly enhancing marketing efforts and driving sales. The platform allows users to create videos using website content, streamlining the video production process. In addition to its software tool, Clipman offers a training course that guides users through the steps to produce and optimize professional video ads. The founders, Raul and Peep, leveraged their experience from their marketing agency and previous app development to assemble a global team aimed at maximizing the platform's potential.

Monese

Seed Round in 2014
Monese Ltd. operates as a digital banking alternative, providing an online platform for users to manage their finances conveniently. Founded in 2015 and based in London, the company offers multi-currency current accounts that enable users to store money, make local and international payments, and access debit cards for purchases and cash withdrawals both domestically and abroad. Monese's mobile application enhances the banking experience by allowing users to manage their accounts with ease, and its services are designed to be fully localized, ensuring that customers receive tailored support. Notably, Monese simplifies the account opening process by eliminating the need for credit checks and residency requirements, making it accessible for a wider audience seeking a flexible banking solution.

Defendec

Seed Round in 2009
Defendec Inc. specializes in developing advanced wireless monitoring systems tailored for remote areas, with a particular emphasis on green perimeter monitoring. Founded in 2007 and headquartered in Tallinn, Estonia, the company also operates offices in Helsinki, Washington, D.C., and Singapore. Its flagship product, the Smartdec perimeter intruder detection system, employs battery-powered intelligent wireless sensors to monitor specified areas, detect intrusions, analyze data, and provide visual confirmation of threats. This technology is vital for sectors such as defense, border security, infrastructure, and oil and gas, effectively aiding in the prevention of international smuggling, illegal trafficking, and sabotage. Smartdec is recognized for securing NATO and European Union external borders, making it a preferred choice for border guards and enhancing security operations globally.
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