STOCKHOLM, April 26, 2018 - QuizRR, an Edtech company offering innovative training solutions to advance corporate responsibility and worker well-being, raised $1.3 million in a financing round led by Norrsken Founders Fund and Working Capital. The funding will be used to expand the company's offering into new markets and further develop and optimize its technology platform to increase its social impact.
Global companies are increasingly required to demonstrate ethical performance to meet regulatory requirements and the interest of conscious consumers. QuizRR offers innovative training solutions that allow corporations to take practical steps towards responsibility, and to engage workers in dialogue to ensure their rights are protected.
"Our partnership with Norrsken Founders Fund and Working Capital enables us to strengthen our organization with key competences, expand on existing markets, and enter new ones. Since the start, we have trained 45,000 factory workers and our goal for 2020 is to have trained 2 million workers around the world and contributed to long lasting positive change," said Sofie Nordström, co-founder and deputy CEO at QuizRR.
One key to sustainably improving working conditions is to involve those who it concerns the most - the workers. QuizRR's digital trainings provide both workers and managers with increased knowledge regarding their rights and workplace responsibilities, how to create and maintain a healthy dialogue and engagement at the workplace, and how to manage wages. All training results are saved and displayed on a web portal, making it possible for brands and suppliers to measure and share their progress. This creates measurability and transparency which is crucial for sustainable supply chains.
Tove Larsson, Investment Manager at Norrsken highlights that "QuizRR's digital training solutions and web portal create better working conditions and safer workplaces which increase workers' well-being. This enables global brands and suppliers to proactively uphold their social responsibility. "We believe in the great potential of the QuizRR team and the scalability of their solutions to contribute to improved living conditions for millions of workers and their families."
"We see partnering with QuizRR as an opportunity to improve the way workers are engaged in global supply chains," said Dan Viederman, Managing Director of Working Capital. "In order for workers' rights to be respected in the global economy, and for working conditions to be improved, workers themselves have to be provided with knowledge, skills, and opportunity. It's innovative solutions like those developed by QuizRR that our fund was created to support. We look forward to working with QuizRR to deepen their impact and expand their promising offerings."
"We are proud to call these two influential, socially-minded organizations, our partners. Besides important capital that enables us to expand both our business and impact, they will contribute with knowledge, contacts, and experience. QuizRR is ready to take the next step in our growth journey and with the support of these global funders, we are well equipped to do so," states Jens Helmersson, co-founder and CEO at QuizRR.
QuizRR is a Swedish EdTech company that offers innovative training solutions to advance corporate responsibility and capacity building in global supply chains. Founded in 2013, by Sofie Nordström and Jens Helmersson, QuizRR uses digital training solutions to educate employees in global supply chains on right and responsibilities, safety and health, workplace dialogue and wage management.
QuizRR now has a team of 20 people in Sweden, China, Bangladesh and Hong Kong, working with 40 global brands and 200 factories in China, Bangladesh and Mauritius to enable improved working conditions and safe workplaces for all employees in global supply chains through education.
About Norrsken Founders Fund
Norrsken wants to create a world that is optimized for both people and planet. We believe that entrepreneurs building rapidly scalable businesses are the best bet to solve some of problems facing our world. That's why we're using our experience from founding and leading startups to support the best impact entrepreneurs across the world.
Norrsken is an ecosystem consisting of Norrsken House, a coworking space for over 350 impact entrepreneurs in Stockholm, and our seed fund Norrsken Founders Fund which invests in companies with the potential to radically improve the world.
About Working Capital
Working Capital is an early stage venture fund that invests in scalable innovations to meet the growing corporate demand for more transparent and ethical supply chains—addressing the urgent need to protect vulnerable workers and source responsibly. It was created by Humanity United, part of The Omidyar Group, a diverse collection of organizations, each guided by its own approach, but united by a common desire to catalyze social impact.