Viking Venture invests in the Norwegian company Xait AS. The company has developed XaitPorter, a document collaboration and production tool used by major corporations globally.
Xait AS was founded by CEO Owe Lie-Bjelland and CFO Arnt Jørund Andreassen in 2000 and has grown to be a major player in the market for production of complex documents. The company has implemented a cloud based offering with a subscription based business model. XaitPorter is used by corporations when producing complex documents such as tenders, proposals, reports, governing documents and project documentation. The software supports both the production and formatting dimension as well as the project management, review and approval dimension of document production.
“We are impressed by the quality of the team, the product and the customers they have attracted. With more than 30% growth and 90% recurring revenue, this company is ideally positioned for further international expansion,” commented, Eivind Bergsmyr partner in Viking Venture and chairman of Xait.