Sunstone Capital

Sunstone Capital, now known as Heartcore Capital, is a venture capital firm established in 2007 that focuses on early-stage investments in consumer technology startups. The firm specializes in seed, series A, and growth investments, targeting both B2C and B2B2C companies. Its investment areas include direct-to-consumer brands, food, digital health, travel, finance, marketplaces, and consumer subscriptions. Heartcore Capital operates from offices in Copenhagen, Berlin, and Paris, actively investing across Europe, particularly in the United Kingdom, and occasionally in the United States. With over $500 million raised across four fund generations, the firm has supported more than 70 founding teams, emphasizing a collaborative approach that nurtures both business growth and personal development for entrepreneurs.

Peter Benson

Co-Founder and Managing Partner

Levin Bunz

Partner

Magnus O. Corfitzen

Investment Director

Yacine Ghalim

Partner

Christian Lindegaard Jepsen

Partner

Paulina Koschitz

Investor

Maximilian Niederhofer

Partner

Max Niederhofer

Partner

Jimmy Nielsen

Partner

Nikolaj Nyholm

Venture Partner

Yohan Pereira

Associate

Deepka Rana

Associate

Andreas Segerros

Partner

Jørgen Smidt

Venture Partner

Signe Sveinbjørnsson

Partner and COO

Søren Rask Tange

Finance Director

Thomas Thestrup

Associate

Past deals in Denmark

Podimo

Series B in 2021
Podimo ApS develops a platform, which provides podcast streaming and download services. The company provides audio content to the users. Podimo ApS was founded in 2019 and is headquartered in Copenhagen, Denmark.

Corti

Series A in 2021
Corti is an artificial intelligence platform designed to assist emergency medical dispatchers in making critical, life-saving decisions. By enhancing the medical triaging process, Corti reduces errors and improves the accuracy of human decision-making, ultimately aiming to save more lives in emergency situations. The company's technology serves as an intelligent partner, providing valuable insights and support to dispatchers as they navigate high-pressure scenarios.

Kobaj

Pre Seed Round in 2021
Kobaj provides co-buying, community, e-commerce, winemakers, wine, platform, and marketplace services. They also provide beverage manufacturing, payment, fees, insurance, and transport of the goods.

Layerise

Seed Round in 2021
Layerise ApS develops and offers product assistant and onboarding tool. It provides product reminders, product how-to guides, customer insights, post-sale triggers, smart localization, authoring tool, post-sale marketing, smart product registration, and product chat. The company was founded in 2019 and is based Copenhagen, Denmark.

Forecast

Series A in 2021
Forecast ApS is a software development company based in Copenhagen, Denmark, established in 2016. It specializes in creating a comprehensive business platform tailored for professional service organizations. This platform integrates project and resource management, team collaboration, financial management, time tracking, and business intelligence, all powered by artificial intelligence. Forecast's solution is designed to facilitate the planning, budgeting, and execution of projects while enhancing visibility and optimization. By streamlining workflows and reducing administrative burdens, the platform allows users to focus on innovation and continuous improvement. The company's approach emphasizes a shift from traditional project-centered models to client-focused strategies, ultimately aiming to deliver superior results for businesses.

Layerise

Pre Seed Round in 2020
Layerise ApS develops and offers product assistant and onboarding tool. It provides product reminders, product how-to guides, customer insights, post-sale triggers, smart localization, authoring tool, post-sale marketing, smart product registration, and product chat. The company was founded in 2019 and is based Copenhagen, Denmark.

SoundBoks

Venture Round in 2020
SoundBoks is a Copenhagen-based hardware start-up developing and selling battery-powered speaker. Founded in January 2015, the company developed a shock and weatherproof design that is portable and durable, with up to 60 hours of battery life at loud volume. It also combines high SPL speaker units with a powerful amplifier in order to reach sounds with an output as high as 119db.

Finematter

Pre Seed Round in 2020
Finematter Aps is an online fine jewelry store founded in 2020 and based in Copenhagen, Denmark. The company operates an e-commerce platform designed to facilitate the sale of fine jewelry, showcasing locally handcrafted designer pieces, gold and silver goods, and watches. By allowing small independent jewelers to sell their creations directly to consumers, Finematter minimizes third-party retail overheads and emphasizes the unique qualities of handcrafted items. This approach not only supports local artisans but also provides consumers with access to distinctive jewelry that celebrates individuality.

Podimo

Series A in 2020
Podimo ApS develops a platform, which provides podcast streaming and download services. The company provides audio content to the users. Podimo ApS was founded in 2019 and is headquartered in Copenhagen, Denmark.

BLAST Premier

Venture Round in 2020
BLAST Premier is an esports entertainment company that specializes in broadcast studio shows, arena events, and online content.

Forecast

Seed Round in 2019
Forecast ApS is a software development company based in Copenhagen, Denmark, established in 2016. It specializes in creating a comprehensive business platform tailored for professional service organizations. This platform integrates project and resource management, team collaboration, financial management, time tracking, and business intelligence, all powered by artificial intelligence. Forecast's solution is designed to facilitate the planning, budgeting, and execution of projects while enhancing visibility and optimization. By streamlining workflows and reducing administrative burdens, the platform allows users to focus on innovation and continuous improvement. The company's approach emphasizes a shift from traditional project-centered models to client-focused strategies, ultimately aiming to deliver superior results for businesses.

Podimo

Seed Round in 2019
Podimo ApS develops a platform, which provides podcast streaming and download services. The company provides audio content to the users. Podimo ApS was founded in 2019 and is headquartered in Copenhagen, Denmark.

Peakon

Series B in 2019
Peakon ApS, founded in 2008 and based in Copenhagen, Denmark, specializes in real-time people analytics aimed at enhancing employee engagement and retention. The Peakon platform automatically gathers employee feedback and analyzes it to provide actionable insights for organizations. It supports a diverse range of users by being available in over 50 languages and can accommodate complex organizational structures with tens of thousands of employees. Feedback can be submitted through various channels, including web, mobile browsers, SMS, kiosks, and a native app, enabling organizations to foster an environment where employees can reach their full potential.

RFRSH ApS

Venture Round in 2018
RFRSH ApS is an esports marketing and media rights company based in Copenhagen, Denmark, founded in 2016. The company specializes in developing commercial and marketing strategies for esports teams, particularly focusing on the popular game Counter-Strike. RFRSH ApS collaborates with a range of established organizations and emerging player-owned teams to enhance their brand visibility and sports performance. By representing the commercial and media rights of these teams, RFRSH connects them with leading global brands for sponsorship and marketing agreements, thereby facilitating their growth and success in the competitive esports landscape.

Templafy

Series B in 2018
Templafy ApS is a B2B Software-as-a-Service company specializing in template and document management solutions. Founded in 2013 and headquartered in Copenhagen, Denmark, Templafy offers a comprehensive platform that enhances productivity, branding, and compliance across various business documents, presentations, and emails. Its services include template and content accessibility, dynamic personalization, document automation, and brand validation, catering primarily to sectors such as banking, finance, consulting, education, insurance, consumer goods, and legal services. With a user base exceeding 1.5 million, Templafy streamlines the document creation workflow, allowing communication and compliance teams to maintain control while ensuring an enjoyable user experience for employees. The company has expanded its presence internationally, with offices in the United States, Germany, the Netherlands, the United Kingdom, Singapore, Hong Kong, Australia, New Zealand, and Spain, serving a diverse range of enterprise customers globally.

Grandhood

Seed Round in 2018
Grandhood operates as an investment management company. The company provides retirement planning and pension services. The company was founded in 2016 and is based in Copenhagen, Denmark.

Forecast

Seed Round in 2018
Forecast ApS is a software development company based in Copenhagen, Denmark, established in 2016. It specializes in creating a comprehensive business platform tailored for professional service organizations. This platform integrates project and resource management, team collaboration, financial management, time tracking, and business intelligence, all powered by artificial intelligence. Forecast's solution is designed to facilitate the planning, budgeting, and execution of projects while enhancing visibility and optimization. By streamlining workflows and reducing administrative burdens, the platform allows users to focus on innovation and continuous improvement. The company's approach emphasizes a shift from traditional project-centered models to client-focused strategies, ultimately aiming to deliver superior results for businesses.

Corti

Convertible Note in 2018
Corti is an artificial intelligence platform designed to assist emergency medical dispatchers in making critical, life-saving decisions. By enhancing the medical triaging process, Corti reduces errors and improves the accuracy of human decision-making, ultimately aiming to save more lives in emergency situations. The company's technology serves as an intelligent partner, providing valuable insights and support to dispatchers as they navigate high-pressure scenarios.

Peakon

Series B in 2018
Peakon ApS, founded in 2008 and based in Copenhagen, Denmark, specializes in real-time people analytics aimed at enhancing employee engagement and retention. The Peakon platform automatically gathers employee feedback and analyzes it to provide actionable insights for organizations. It supports a diverse range of users by being available in over 50 languages and can accommodate complex organizational structures with tens of thousands of employees. Feedback can be submitted through various channels, including web, mobile browsers, SMS, kiosks, and a native app, enabling organizations to foster an environment where employees can reach their full potential.

RFRSH ApS

Venture Round in 2017
RFRSH ApS is an esports marketing and media rights company based in Copenhagen, Denmark, founded in 2016. The company specializes in developing commercial and marketing strategies for esports teams, particularly focusing on the popular game Counter-Strike. RFRSH ApS collaborates with a range of established organizations and emerging player-owned teams to enhance their brand visibility and sports performance. By representing the commercial and media rights of these teams, RFRSH connects them with leading global brands for sponsorship and marketing agreements, thereby facilitating their growth and success in the competitive esports landscape.

Peakon

Series B in 2017
Peakon ApS, founded in 2008 and based in Copenhagen, Denmark, specializes in real-time people analytics aimed at enhancing employee engagement and retention. The Peakon platform automatically gathers employee feedback and analyzes it to provide actionable insights for organizations. It supports a diverse range of users by being available in over 50 languages and can accommodate complex organizational structures with tens of thousands of employees. Feedback can be submitted through various channels, including web, mobile browsers, SMS, kiosks, and a native app, enabling organizations to foster an environment where employees can reach their full potential.

Corti

Seed Round in 2016
Corti is an artificial intelligence platform designed to assist emergency medical dispatchers in making critical, life-saving decisions. By enhancing the medical triaging process, Corti reduces errors and improves the accuracy of human decision-making, ultimately aiming to save more lives in emergency situations. The company's technology serves as an intelligent partner, providing valuable insights and support to dispatchers as they navigate high-pressure scenarios.

Peakon

Series A in 2016
Peakon ApS, founded in 2008 and based in Copenhagen, Denmark, specializes in real-time people analytics aimed at enhancing employee engagement and retention. The Peakon platform automatically gathers employee feedback and analyzes it to provide actionable insights for organizations. It supports a diverse range of users by being available in over 50 languages and can accommodate complex organizational structures with tens of thousands of employees. Feedback can be submitted through various channels, including web, mobile browsers, SMS, kiosks, and a native app, enabling organizations to foster an environment where employees can reach their full potential.

Astralis

Pre Seed Round in 2016
Astralis is a professional e-sports organization based in Copenhagen, known for its highly successful Counter-Strike team, which is consistently ranked among the top three globally. Founded by Frederik Byskov and Jacob Lund Kristensen, along with five key players who were instrumental in its early success, Astralis has established itself as a leading franchise in the competitive gaming industry. The organization gained significant investment in January 2016, which has supported its growth and prominence in the e-sports arena. Through its commitment to excellence, Astralis has become a symbol of high performance in the world of competitive gaming.

Templafy

Venture Round in 2015
Templafy ApS is a B2B Software-as-a-Service company specializing in template and document management solutions. Founded in 2013 and headquartered in Copenhagen, Denmark, Templafy offers a comprehensive platform that enhances productivity, branding, and compliance across various business documents, presentations, and emails. Its services include template and content accessibility, dynamic personalization, document automation, and brand validation, catering primarily to sectors such as banking, finance, consulting, education, insurance, consumer goods, and legal services. With a user base exceeding 1.5 million, Templafy streamlines the document creation workflow, allowing communication and compliance teams to maintain control while ensuring an enjoyable user experience for employees. The company has expanded its presence internationally, with offices in the United States, Germany, the Netherlands, the United Kingdom, Singapore, Hong Kong, Australia, New Zealand, and Spain, serving a diverse range of enterprise customers globally.

Issuu

Series B in 2014
Issuu, Inc. is a digital publishing and discovery platform founded in 2006 in Copenhagen, Denmark. It provides a range of solutions that allow users to create, publish, and share digital publications such as magazines, catalogs, and corporate literature. The platform hosts over 17 million publications and attracts more than 80 million active readers monthly, delivering approximately 5.5 billion page views. Issuu's offerings include tools for custom viewer themes, API integrations for managing content, and monetization solutions through Issuu Story Cloud. The platform is designed to enhance the reading experience by transforming PDFs and images into visually appealing formats accessible across various devices and social media. With additional offices in Palo Alto, California, and Berlin, Germany, Issuu serves a diverse audience, including designers, developers, publishers, and advertisers, ultimately aiming to democratize the publishing experience while preserving the essence of print media.

Templafy

Venture Round in 2014
Templafy ApS is a B2B Software-as-a-Service company specializing in template and document management solutions. Founded in 2013 and headquartered in Copenhagen, Denmark, Templafy offers a comprehensive platform that enhances productivity, branding, and compliance across various business documents, presentations, and emails. Its services include template and content accessibility, dynamic personalization, document automation, and brand validation, catering primarily to sectors such as banking, finance, consulting, education, insurance, consumer goods, and legal services. With a user base exceeding 1.5 million, Templafy streamlines the document creation workflow, allowing communication and compliance teams to maintain control while ensuring an enjoyable user experience for employees. The company has expanded its presence internationally, with offices in the United States, Germany, the Netherlands, the United Kingdom, Singapore, Hong Kong, Australia, New Zealand, and Spain, serving a diverse range of enterprise customers globally.

addwish

Seed Round in 2013
addwish is a provider of wish list services for both consumers and online shops. Consumers can easily create wishlists to share with their family and friends. The highly intuitive interface on both addwish.com and on its iOS and Android mobile apps makes gift giving easier than ever before. For online retailers, addwish supplies a webshop plugin that enables the addwish functionality directly on their websites. As added benefit for the merchants, addwish promotes and suggests the products from their webshops to its users, resulting in traffic and lead generation.

Mofibo

Seed Round in 2013
Mofibo started in Copenhagen (2013) as one of the world’s first book subscription services. We are currently in three countries and will be expanding into more countries within the next 12 months. Our overall goal is to transform the way millions of people interact with books, through using a data-driven and customer centric approach to fundamentally change the reading experience crosses multiple countries.

Podio

Series A in 2011
Podio ApS designs and develops a platform to manage work for organizations. The company’s platform enables users to share files, manage tasks, create custom integrations and new applications, provide add-ons, and others. The company also offers an application for iOS and Android devices. Podio ApS was formerly known as Hoist ApS. The company was incorporated in 2007 and is based in Copenhagen, Denmark. As of April 11, 2012, Podio ApS operates as a subsidiary of Citrix Systems, Inc.

youcalc

Series A in 2008
**World's largest library of user generated, shareable analytics apps** youcalc let's business people create and share custom reports and analytics on data from SaaS systems — zero coding required! A user driven library of now more than 130 analytics apps for CRM, sales, marketing, service/support and project management, and live data connection to a growing number of SaaS systems (Salesforce.com, Basecamp, AdWords, Google Analytics, Highrise CRM, MailChimp, etc.) **User driven innovation and collaboration** The reporting needs of e.g. sales people are different, but a sales guy in New York may share "custom needs" with a sales guy in another company in Rome. youcalc's mission is to create the world's largest library of analytics apps by allowing business users to create and share analytics apps. All apps built on youcalc become public from the app library, for anyone to use as is or customize to individual needs. All customized apps go back into the app library for the benefit of other users. youcalc let's business users across the world search and use a vast library of analytics apps built by other users with similar needs. **Run anywhere - in iGoogle, inside e.g. Salesforce.com, on intranets, on iPhones, etc.** youcalc apps are easy-to-use, interactive, Flash charts that run anywhere - built for business users, not for expert analysts! Stop spending hours clicking through expert analytics interfaces. Business users get the exact analysis they need, with one click, anywhere they want. Add several apps to iGoogle and you have a personal portal for reporting across all your SaaS systems.

youcalc

Seed Round in 2007
**World's largest library of user generated, shareable analytics apps** youcalc let's business people create and share custom reports and analytics on data from SaaS systems — zero coding required! A user driven library of now more than 130 analytics apps for CRM, sales, marketing, service/support and project management, and live data connection to a growing number of SaaS systems (Salesforce.com, Basecamp, AdWords, Google Analytics, Highrise CRM, MailChimp, etc.) **User driven innovation and collaboration** The reporting needs of e.g. sales people are different, but a sales guy in New York may share "custom needs" with a sales guy in another company in Rome. youcalc's mission is to create the world's largest library of analytics apps by allowing business users to create and share analytics apps. All apps built on youcalc become public from the app library, for anyone to use as is or customize to individual needs. All customized apps go back into the app library for the benefit of other users. youcalc let's business users across the world search and use a vast library of analytics apps built by other users with similar needs. **Run anywhere - in iGoogle, inside e.g. Salesforce.com, on intranets, on iPhones, etc.** youcalc apps are easy-to-use, interactive, Flash charts that run anywhere - built for business users, not for expert analysts! Stop spending hours clicking through expert analytics interfaces. Business users get the exact analysis they need, with one click, anywhere they want. Add several apps to iGoogle and you have a personal portal for reporting across all your SaaS systems.

Issuu

Series A in 2007
Issuu, Inc. is a digital publishing and discovery platform founded in 2006 in Copenhagen, Denmark. It provides a range of solutions that allow users to create, publish, and share digital publications such as magazines, catalogs, and corporate literature. The platform hosts over 17 million publications and attracts more than 80 million active readers monthly, delivering approximately 5.5 billion page views. Issuu's offerings include tools for custom viewer themes, API integrations for managing content, and monetization solutions through Issuu Story Cloud. The platform is designed to enhance the reading experience by transforming PDFs and images into visually appealing formats accessible across various devices and social media. With additional offices in Palo Alto, California, and Berlin, Germany, Issuu serves a diverse audience, including designers, developers, publishers, and advertisers, ultimately aiming to democratize the publishing experience while preserving the essence of print media.