Latvian BranchTrack closes a 250.000 Euro seed round

The Latvia-based startup company, BranchTrack, has just landed a seed investment of 250.000 Euro coming from several investors including Zbigniew Gulbinowicz (Blue Bridge Baltic Lithuania), Imprimatur Capital and Coffee Ventures. This is one of the few success stories in a row after the company was rewarded with the E-Learning Award 2015 for most innovative new learning product in London and announced the Best Startup at the How To Web conference in Bucharest at the end of last year.

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BranchTrack offers a scenario-based training tool including realistic customer simulations for building interactive corporate training. Their revolutionary service is applicable to any business that is seeking for a tool to deliver customer service and management training. It contains essential features that help the process of visual editing without the need to possess any development or graphic design skills. The training simulation software is currently being used by more than 1500 companies across the globe, some of the most familiar paying customers being Johnson & Johnson, PwC, KPMG, Pearson, Mary Kay, Slack.

According to Labs of Latvia, Sergey Snegirev, the CEO of BranchTrack, shared his enthusiasm on the company’s recent achievements, claiming: “Between the industry acknowledgement and the €250k seed round deal we are in an excellent position to deliver an even greater product for our customers than before.” The investment money will be used in business development activities aiming to conquer Western Europe and US among other targeted regions. BranchTrack’s goals involve improving the software, expanding sales activities and entering new sales channels. Their desired outcome is to reach €100k monthly recurring revenue in a year.