Forecast raises $19M Series A to reimagine project based work using AI-native technology

MAY 19, 2021

BY BALDERTON

The funding round was led by Balderton with participation from previous investors, Crane Ventures Partners, SEED Capital and Heartcore.

Forecast is an AI-native Project and Resource Management platform. Its solution unites projects, resources, financials and business intelligence in one easy-to-use platform, solving the issue of transparency on all business operations. 

The company was founded in Denmark in 2016 and is already used by companies including the Red Cross, Distributed, O2 Web and PeakActivity to unify project operations and increase profitability.

Our mission is simple: to unlock the power of AI to help people do the best work of their lives. This funding is a significant step in Forecast’s journey to reimagine the project experience, as we move the company from an innovative challenger to a true leader in the market.

Dennis Kayser, CEO & co-founder at Forecast

The Forecast team

The new funding follows unprecedented growth in the past 12 months, with Forecast tripling revenue through the pandemic.

Less than a year after launching a commercial office in the UK, Forecast now plans to launch in North America, while continuing to scale in the UK. The company will also invest heavily into the continued development of its platform in order to make it the easiest to use in the market. The team also plans to build predictability into the platform so customers can forecast financials and increase profitability.

We are really excited to be an early investor in Forecast. We share their belief that the next generation of SaaS products will be more than just collaboration tools, but use machine learning to actively solve problems for their users.

James Wise, Partner at Balderton

Forecast’s Auto Schedule will help you get your projects up and running faster, automating project planning and doing all the math for you.

The feedback we got from Forecast's customers was quite incredible, both in their praise for the platform and in how much of a difference it had already made to their operations. We look forward to supporting the company to scale this impact going forward.

James Wise, Partner, Balderton

Forecast allows customers to keep stakeholders in the loop with real-time updates containing any level of detail they choose

In addition to the funding round, Forecast has appointed ex-CEO and founder of FinancialForce Jeremy Roche to its Board of Directors. Roche will provide strategic direction in driving growth.

With Jeremy on board to steer strategic direction, it’s an amazingly promising time for us.

Dennis Kayser, CEO & co-founder at Forecast

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