Forestay backs Howspace to accelerate European and US expansion

Forestay backs Howspace to accelerate European and US expansion

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Forestay Capital has added to its portfolio by leading the €12M Series A funding round for Howspace, the AI-powered digital facilitation platform company based in Finland. The company will use the funding to scale the core business and to create jobs to drive growth in North America and Central Europe. Investing alongside Forestay is Inventure.

Forestay Capital’s Managing Partner Frederic Wohlwend said of the investment:

“Howspace’s highly talented team has already grown an impressive business that is seizing upon—and helping to direct—the growing trend for innovative digital collaboration in the ways that we work.

“Vitally, Howspace’s products differentiate it from the market, offering one ecosystem of collaboration with AI acting in the background to facilitate remote interactions at scale. That gives us cause for excitement about what the future holds, and we fully believe in—and back—management’s vision for achieving global growth.”

Howspace has previously raised €3M, including a €1.4M Seed round in 2017 and a €1.6M bridge round that closed in October 2019. The company’s roots extend back to its founding under the Humap name in 1999 by Olli-Pekka Juoperi, Ilkka Mäkitalo, and Vesa Purokuru. Founded as a spin-off in 2008, the company today employs 60+ people in Europe and North America, offering support to customers and partners in more than 30 countries.

The press release covering the funding round is available in full here.