Viking Venture has completed its first investment in Denmark, enabling Danish software company Tamigo accelerate further growth in Europe.
Since 2006, tamigo has combined a number of employee related tasks into one unified workforce management solution used by over 150,000 users in 18 countries, in particular within retail and hospitality. Employees can easily check in or exchange shifts, payroll automatically receives the correct data to ensure accurate salaries are paid, and management can benchmark across departments and countries.
tamigo differentiates itself among other things by functioning without the need for further adjustments when operating in different countries with different rules and regulations, something especially relevant for international chains. Customers include REMA 1000, Molton Brown, Sitcks’n’Sushi and McDonald’s.
– Large customers have complex needs but are tired of working with heavy systems. As something unique, we can provide a simple cloud solution that can handle all the complexity our customers crave. Especially after GDPR, customers have begun to seriously demand cloud-based workforce management solutions. We have the opportunity to become the dominant European player in workforce management, and with this investment we will have the opportunity to hire skilled, international employees faster to accelerate our growth, says CEO and Founder Jakob Toftgaard, emphasizing that the company consciously chose an investor who focused on the product and the real differences tamigo makes to its users.
The first of several investments in Denmark
Viking Venture has invested directly into the company and bought existing shares but remains a minority investor. For the investment fund, having the first Danish company in their portfolio is an important milestone.
– We want to be the leading investor in B2B software companies with subscription solutions across the Nordic region, and there are many interesting companies in Denmark. We have invested in tamigo because we believe in the team, the product and the market. They have achieved impressive results with large European customers who all want to increase their focus on business rather than administrative tasks. The trend we are seeing in Europe means that companies need to plan more flexibly, so that they adapt their staffing as needed without losing control, says Eivind Bergsmyr, Partner in Viking Venture and chairman of tamigo.
