OREANDA-NEWS. November 27, 2013. SORAINEN advised on the seed round investment into Plumbr, an Estonian start-up that has developed a memory optimising tool that can predict and avoid software failures.

The USD 1 million seed round was led by angel investor Matt Arnold, along with Sten Tamkivi, who is the former head of Skype Estonia, and the founders of global mobile-payment firm Fortumo.

TechCrunch reported that according to Plumbr co-founder and CEO Priit Potter, the new capital will be used to “boost” product development, and to build the start-up’s sales team and processes. To date, the company claims over 100 paying customers who have detected more than 3,500 memory leaks in their IT systems, and says it expects to at least double its customer base in 2014.

SORAINEN advised one of the investors, conducting a limited due diligence and representing the client in the investment and shareholders’ agreement negotiations. The SORAINEN team was led by specialist counsel Kadri Kallas, senior associate Paul Kunnap and partner Toomas Prangli.