Fronted raised €1.7 million (NOK 18 million) in a Seed funding round. The round was led by Kaknäs Invest, with Skagerak Capital also participating. The Norwegian hrtech startup helps companies hire and manage employees across borders through an employer of record platform.
Funding details
Existing backers Antler and Sondo Capital joined the round, along with new angel investors. The company said the capital will support commercial expansion and help extend operational infrastructure to 70 countries. It also plans to develop its AI-powered payroll engine further.
Company context
Fronted was founded by Marius Blaker Høgevold and Hans Nyvold Kjellby. The company has around 30 employees and nearly 100 customers. Its annual recurring revenue tripled in the last twelve months.
What the platform does
The platform combines cross-border recruitment, employer of record services, and entity setup and management. It acts as the legal employer for workers while customers handle daily management. The software automates payroll calculations, tax reconciliations, and employment contract generation.
Fronted expects annual recurring revenue to reach 20 million Norwegian kroner this year. It aims to reach profitability in 2027 with the new funding. The company also expects to pass 100 customers before Christmas.