Quizrr raises 6MSEK

April 29, 2020

PRESS RELEASE

Improving working conditions, mitigating worker exploitation and raising awareness on human rights have never been more relevant. The new funds will be used to expand the digital training in current markets, focusing on increased reach to millions of employees around the world and to enhance data connectivity and data driven action in global supply chains.

The past year has involved new important commercial additions to Quizrr’s subscription base with well-known companies such as Hewlett Packard, Daniel Wellington, Electrolux and global online marketplaces at the top of the list. Implementing Quizrr’s SaaS model enables these companies to scale trainings efficiently at worker level, integrating social aspects as a natural component of sustainable production.

- It is a defining moment for digital tools these days. With this continued confidence from our lead investors, we aim to confirm our pole position as the digital actor in social sustainability. The need for resilient supply chains is proving more relevant than ever. Today, with 1/3 of the world’s population being held in lockdown or quarantined, we see already vulnerable groups getting further exposed to violation. I believe our bottom up-approach on educating workers on their rights is one core element that fits well into mending this chain, says Erika Wennerström, CEO at Quizrr.

The compliance landscape is transforming rapidly as leading companies in most industries are looking to de-risk social factors in supply chains globally. The compliance landscape is transforming rapidly as leading companies in most industries are looking to de-risk social factors in supply chains globally. The harsh spread of Covid-19 is fueling this transition as traditional compliance mechanisms with on-site audits and classroom trainings are severely hampered. Furthermore, consumers as well as investors are increasingly expecting companies to take responsibility on ESG aspects of the product lifecycle to maintain its relevance.

- During the crisis it has been very visible how globally interconnected our supply chains are and it further highlights the importance of honoring decent work and human rights for workers all around the globe. Quizrr provides a great scalable solution to that challenge and is a perfect example of how startups can leverage tech to generate impact, says Tove Larsson, General Partner at Norrsken VC.

During the past year, several of Quizrrs subscribing brands and their corresponding supply chains have studied the outcome of performed trainings at the factories. Brands are reporting improved productivity, increased retention and workplace dialogue e.g. less conflicts and better dialogue between workers and managers – are among the most reoccurring positive results in the reports being made public.

- Quizrr can deliver impact for workers and employers, cost-effectively and at scale. That’s a rare combination in the world of supply chain responsibility.  For workers the training is appealing and practical; for employers it builds engagement, an important avenue to productivity and retention. We’re pleased to support the organization as it deepens its impact, says Dan Viederman, Managing Director Working Capital Fund

Pre-competitive collaborations for impact
Aside of commercial progress, Quizrr has further strengthened its position through partnerships with leading global organizations such as UN Migration in Thailand, BSR HERproject & MasterCard Centre for Inclusive Growth, Better Work, the International Labor Organization (ILO) and International Finance Corporation (IFC) are all further contributing to the ability to reach all the way to factory workers with scalable trainings.

- The cooperation with UN Migration in Thailand is an important milestone for us, as it targets the mitigation of human exploitation through education of rights already at the boarders, before entering the country. A true proactive initiative that we hope to scale further with UN. It’s truly exciting times ahead and we are very thankful to have long-range investors with us on this journey, says Erika Wennerström.

Social responsibility made measurable
Quizrr develops innovative digital training solutions to advance corporate responsibility and drive knowledge building at factory floors in global supply chains. Through the interactive digital training solution, consisting of gamified content combining live-action videos and quiz-questions, workers and managers employed in global supply chains build knowledge and skills on right and responsibilities, health and safety, workplace dialogue and much more. All training results are uploaded and visualized in an online dashboard, enabling global companies and their suppliers to follow, measure and share their progress.

The Quizrr digital training is currently available in China, Bangladesh, Thailand, Cambodia and Mauritius. To date, over 180 000 workers have been trained in 427 factories with over 60 global brands using the Quizrr solution.

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About Norrsken VC
Norrsken VC is one of the largest early stage impact venture capital investors in Europe focused on investing in rapidly scaling early stage start-ups that use technology to solve some of the world’s greatest challenges while building highly profitable businesses.

Norrsken VC is part of Norrsken Foundation ecosystem. Norrsken Foundation is a non-profit foundation supporting entrepreneurs daring to tackle society's biggest challenges, such as poverty, mental health, famine, food waste and environmental issues. Norrsken has made 19 investments through its first fund, started 2 non-profit companies and currently houses 125+ companies in Europe's largest impact hub. In 2019 Norrsken announced the first step in their global expansion: building East Africa’s biggest hub for entrepreneurs in Kigali, Rwanda. And this is just the start of the journey as Norrsken is expanding to more places around the world. Find out more on www.norrsken.vc.

About Working Capital
Working Capital is an early stage venture fund that invests in scalable innovations to meet the growing demand for more transparent and ethical supply chains—addressing the urgent need to protect vulnerable workers and source responsibly. It was initially incubated by Humanity United, which is founded by The Omidyar Group, a diverse collection of independent organizations and initiatives. Find out more on https://workingcapitalfund.com/.

Alto Cumulus
Alto Cumulus Asset Management is focusing on long term value oriented investments within the asset classes public equities, fixed income and private equity. Find out more on www.altocumulus.se.

CSB Capital

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