SCOOCS secures €1 million investment from German business angel

The Portuguese virtual events and communities platform SCOOCS raises €1 million in an investment from German business angel Sebastian Loh. The funding will be used to develop the platform and expand the local team and presence in Europe. At the moment, they already operate in Germany and the UK and plans are to enter Latin America and the United States, the platform’s official source tells ECO.

“The whole team is excited to have Mr Loh on board. Alongside the investment, his business acumen, vast network and practical mindset is something that will benefit SCOOCS and our international clients, including large companies such as Samsung, institutions such as the United Nations, the German government or universities around the world, such as the Catholic University,” says Francisco Chambel, co-founder and CEO of SCOOCS, quoted in a statement.

Created in Portugal, a few weeks before the first Covid lockdown in 2020, SCOOCS (Smart Customizable, Online, Offline, Communities for Sustainability) is a “100% customisable digital event and community platform that benefits from AI features to ensure a more intuitive experience not only for attendees, but also for hosts when preparing and moderating events.”

Investment plans

Currently, SCOOCS employs a total of 12 people. “We hope to double the team this year and in 2023: around 10 employees in 2020 and 20 more in 2023,” says an official source of the company. Recruitment will be focused on the tech and business teams.

The amount raised will also be used to expand the platform. The goal is to “move towards a modular community solution, where events are one of the components from which customers can benefit,” says an official source

SCOOCS already has over 195 clients that use the platform to hold virtual events in Portugal, United Kingdom and Germany. And there are expansion plans that include “continuing to expand in Europe and entering America (USA and LATAM).”