Francisco Partners Leads Round; David Golob and Eran Gorev Join Redis Labs Board of Directors
KKR to Acquire Exact Software from Funds Advised by Apax Partners
ConnectWise Announces Pending Acquisition by Thoma Bravo
Partnership to Accelerate ConnectWise’s Strategic Growth Initiatives
TAMPA, Fla., Feb. 25, 2019 (GLOBE NEWSWIRE) — ConnectWise today announced its pending acquisition by Thoma Bravo, LLC, a leading private equity investment firm. Thoma Bravo’s software expertise, extensive track record and deep capital will enable ConnectWise to pursue a strategy focused on organic growth and strategic acquisitions. The transaction is expected to close on Feb. 28. After the transaction is completed, ConnectWise founder and CEO Arnie Bellini will transition into an advisory role, and current president and COO, Jason Magee, will become CEO of the company. Terms of the transaction were not disclosed.
“Five years ago, we began exploring all of the financial options to accelerate the ConnectWise mission and our partners’ success. Thoma Bravo was the clear and obvious choice over an Initial Public Offering (IPO) and seven other private equity firms,” Arnie Bellini said. “Thoma Bravo is the premier investor in Software-as-a-Service (SaaS) technology. ConnectWise and Thoma Bravo have co-created a multi-year strategy that is aligned with our mission, vision, culture and partners. With this new relationship we plan to accelerate our partners’ success worldwide.”
Jason Magee, who has been with ConnectWise since 2011, was named COO in 2016. During his tenure as COO, ConnectWise grew at a 21 percent cumulative annual growth rate with more than 81 percent growth in EBITDA.
“Our success has been founded on deep interactions with our partners through our IT Nation events and peer groups. We will continue to invest in our partner community and provide the solutions they need to deliver technology as a service to the world. I believe the Thoma Bravo partnership will accelerate our ability to continually develop the platform our partners need to succeed through acquisitions and innovation,” said Jason Magee.
Bellini said Magee was the obvious choice as his successor. “Jason has more than 20 years of deep industry experience with MSPs and VARs. Because Jason’s been in their shoes, he is committed to ConnectWise’s partners. He will continue driving the passion, culture and innovation that our partners and colleagues expect from us.”
The partnership with Thoma Bravo will advance ConnectWise’s long-term vision and roadmap. Partners can expect innovative cybersecurity solutions, advanced education, go to market tools for the as a service world and a connected ecosystem to drive greater productivity and simplicity.
“Thoma Bravo has long recognized ConnectWise’s position as a leader and pioneer in the Managed Service Provider (MSP) and broader IT services space. For nearly 40 years, the company has been the market leader in providing the most comprehensive integrated software solutions to its community of partners,” said Robert Sayle, Partner at Thoma Bravo. “Under the strong leadership of Arnie and the management team, ConnectWise has innovated and created top tier products and services, and we are thrilled to partner with Jason to enable further success and opportunity for ConnectWise partners.”
Holland & Knight served as the legal advisor to ConnectWise while Raymond James & Associates, Inc. served as the exclusive investment banking advisor to the Special Committee of the Board of Directors, consisting of Steve Raymund and Stan Levy. Kirkland & Ellis LLP served as Thoma Bravo’s legal advisor. Owl Rock Capital provided financing for the transaction.
About ConnectWise
ConnectWise is a software company that connects teams with the platform and solutions that deliver technology as a service to the world. Our award-winning business management platform automates the full lifecycle of technology service delivery, from sales and service to project tracking and back-office functions, for more than 25,000 partners in more than 65 countries. We believe in an open ecosystem, the power of choice and providing a single pane of glass view. With more than 35 years of experience, ConnectWise delivers the software solutions and support companies want at each step of their business journey. For more information, visit ConnectWise.com.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $30 billion in capital commitments, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as ABC Financial, Blue Coat Systems, Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software, Imprivata, iPipeline, PowerPlan, Qlik, Quorum Software, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems, TravelClick and Veracode. The firm has offices in San Francisco and Chicago. For more information, visit thomabravo.com.
- Matthew Gorton
- Hiltzik Strategies
- 381 Park Ave S, Suite 1201
- New York, NY 10016
- (212) 776-1161
- mgorton@hstrategies.com
Ropo Capital aims to become the leading invoice lifecycle services provider in the Nordics – Adelis new majority owner
Ropo Capital has grown significantly in recent years and has built a leading market position in invoice lifecycle management services in Finland. Today, the company delivers one in six invoices in Finland. Ropo’s success is based on its proprietary Ropo24 software platform that has been developed to automate and unify the invoicing and receivables management process, minimise manual operations and improve reporting.
Ropo Capital wants to be the preferred provider of invoice lifecycle management services to Finnish companies and expand its operations to the other Nordic countries. Adelis Equity Partners becomes the new majority owner with the intent to support the management team in the execution of the company’s growth strategy.
”During the past couple of years, we have completed our merger with Enfo Zender and established ourselves as the leading invoice lifecycle management service provider in Finland. Our success is built on our highly automated and integrated software platform, that covers invoice delivery, receivables management, ledger and financing. Through our unique lifecycle concept, customers receive full visibility and control of their receivables. Now, we want to expand our operations to cover the other Nordic countries and we strongly believe that Adelis has the right experience and capabilities to support us in the next phase of our growth. We are very excited to have Adelis as our new partner”, says Artti Aurasmaa, CEO of Ropo Capital.
”We at Adelis have followed Ropo Capital’s success for several years and are very impressed by the company’s development. Ropo’s model of integrating the whole invoicing value chain is truly unique. The company has a good opportunity to further strengthen its position by broadening its business intelligence offering and by expanding in receivables financing. We also see significant potential in the Swedish and Norwegian markets. We are proud of the opportunity to support the management team and employees of Ropo Capital in the next phase of the company’s development”, says Rasmus Molander from Adelis.
The transaction is subject to customary regulatory approvals.
For further information:
Ropo Capital: Artti Aurasmaa, CEO, artti.aurasmaa@ropocapital.fi
Adelis Equity Partners: Rasmus Molander, Partner, +46 70 823 74 33
Ropo Capital
Ropo Capital is an invoice lifecycle services provider driven by strong technological platform. Currently it is the only company in the Nordics with the ability to cover the full value chain of invoicing lifecycle management services, from invoicing and sales ledger management to receivables financing and debt collection, by leveraging completely in-house developed technology. The Company’s ability to automate the invoicing lifecycle process enables a superior customer value proposition through more efficient receivables management and reduced process complexity. Ropo Capital was established in 2008 and today approximately 8,000 companies in Finland use its services. The Company employs approximately 180 professionals in Kuopio, Porvoo and the capital region. For more information, please visit www.ropocapital.fi.
Adelis Equity Partners
Adelis is an active partner in creating value at mid-sized Nordic companies. Adelis was founded with the goal of building the leading middle market private equity firm in the Nordics. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, acquiring 20 companies and making more than 50 add-on acquisitions. Adelis now manages approximately €1 billion in capital. For more information please visit www.adelisequity.com.
Utilant Plans to Accelerate Global Growth and Expand Presence Within Insurance Marketplace with Significant Investment
Founded in 2005, Utilant has become a leading provider of technology to the insurance industry through its LossControl360 SaaS solution. Utilant’s mission is to create technology solutions that make the risk management and underwriting processes more efficient. Utilant’s LossControl360 platform is designed to make the insurance risk management process more streamlined and accurate to help underwriters make better policy decisions.
This investment round will fuel Utilant’s global expansion and further strengthen its LossControl360 platform to leverage artificial intelligence and data analytics.
“The business landscape is evolving for insurance carriers striving for leadership in a competitive environment that requires precision and is driving the use of transformative technologies. The Utilant team is creating the technology to ensure that carriers capture the risk of underwriting in the most accurate and scalable way possible,” said Patrick Davis, founder and CEO of Utilant. “We partner with our P&C carrier customers to ensure that the LossControl360 SaaS platform is advancing their goals. ATG, given their insurance and operational expertise, is the perfect partner to help capture this opportunity and drive further growth.”
ATG’s investment comes during an exciting time in the marketplace and supports the opportunity for Utilant to further its leadership with P&C carriers and inspection services vendors. ATG is managed by Aquiline Capital Partners and is the firm’s dedicated early and growth stage fund, investing in technology companies that are bringing innovation to the insurance and financial services ecosystems.
“Utilant has emerged as a leader in the loss control solutions market and is poised for growth given the company’s established domain expertise and flexibility of its solution, and the ever-increasing demand for advanced technologies and automation,” stated Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline Capital Partners.
“We are excited to work with the management team of Utilant to help further its market leadership and respond to the growing global demand for a scalable solution through a unified technology platform that manages underwriter and policyholder customer interactions,” said Michael Cichowski of ATG. As part of the investment, Mr. Cichowski will join the Utilant board of directors.
About Utilant
Utilant’s LossControl360 platform is used by leading insurers around the world, as well as by top inspection vendor survey companies across North America. The company is focused on risk management and loss control software solutions for P&C insurance carriers. The LossControl360 platform helps insurers to efficiently survey and score risks for an efficient underwriting process across all lines of commercial and residential business. A typical implementation provides positive ROI within the first year. More information on Utilant and LossControl360 is available at http://www.utilant.com and http://www.losscontrol360.com.
About Aquiline Technology Growth
Aquiline Technology Growth (ATG) seeks to invest in early- and growth-stage technology companies that are bringing innovation to the insurance and financial services ecosystems. ATG is managed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across the financial services and technology sector. The ATG team has experience in technology and financial services and is supported by its colleagues at Aquiline, strategic partners, and an active group of industry Executive Advisors. For more information on ATG, visit http://www.aquiline.com/atg.
ZENTRICK JOINS AMERICAN DIGITAL VIDEO TECHNOLOGY COMPANY, DOUBLEVERIFY
Fortino investment company Zentrick has been acquired by DoubleVerify, an American independent provider of marketing measurement software and analytics.
In 2013, Fortino Capital Partners invested 2,2 million euros in Zentrick. Five years later, Fortino Capital Partners and the founders of Zentrik have now sold their shares to DoubleVerify in order for the company to further increase its scale. DoubleVerify, operating from New York, offers marketing measurement software, data and analytics that authenticates the quality and effectiveness of digital media for the world’s largest brands and media platforms.
“Through integration with DoubleVerify, we anticipate scaling our solution to better service both advertisers and publishers, while driving even greater positive impact throughout the ecosystem.”, says Frederik Neus, Zentrick co-founder.
The Zentrick’s software engineering team will continue to operate from the current offices in Ghent. In 2018, the company supported 150 billion video ads.
(Read the press release by DoubleVerify.)
AI-company Aidence raises €10 million Series A to revolutionise the medical imaging industry
Amsterdam 20/02/2019- Aidence, a company that is bringing the full potential of Artificial Intelligence into the hands of medical professionals in medical imaging and disease detection, has completed a €10 million Series A funding round. The round was led by INKEF Capital and co-investor Rabo Ventures, alongside existing investors Northzone, HenQ and Health Innovations. This investment brings Aidence’s total funding to €12.5 million.
Aidence was founded in Amsterdam in 2015 by Mark-Jan Harte (CEO) and Jeroen van Duffelen (COO). Since then, the company has made waves in the medical imaging industry with its AI solution, Veye Chest. Lung cancer is one of the most common cancers worldwide and early detection is of great importance for survival. Aidence’s AI-enabled pulmonary nodule management assistant, Veye Chest, connects with existing imaging infrastructure and enables radiologists to better spot and track changes in pulmonary nodules. Veye Chest is already installed in more than 10 hospitals in the Netherlands, United Kingdom and Scandinavia and processes hundreds of studies per week.
Aidence was selected for SBRI Healthcare last year, an NHS innovation initiative. Its health economics team recognised Veye Chest has potential to provide relief to the pressures in the radiologist workforce and reduce the number of missed lung cancers.
CEO Mark-Jan Harte says: “We’ve been determined since day one to deliver a tangible clinical AI solution that can be used by healthcare professionals to help their patients. We welcome INKEF and Rabo Ventures on our journey as we strive to shape the future of the medical imaging industry. With this funding we will continue building our European market expansion while also building towards FDA clearance giving us access to the US healthcare market. This investment will allow our research and development team to expand and explore new avenues for the Veye platform to support our radiologist AI pioneers and the patients they care for.”
Thijs Cohen Tervaert from INKEF comments: “We’ve followed Aidence for a number of years and are impressed by the team they’ve built and the progress they’ve made. Aidence has managed to cut through the hype surrounding AI and delivered a solution that fits into the workflow and helps radiologists do their work better. This is supported by the fact that the solution is being used in more than 10 hospitals and radiologists are using the software to improve care. The quality of the team, the technology and their vision for the future inspired us to lead this round of investment.”
“Mathijs Koens from Rabo Ventures comments: “With its practical AI solution for radiologists, Aidence fits very well with our ambition to contribute to improving the healthcare ecosystem and ultimately retaining affordable healthcare for all.”
To design Veye Chest, Aidence has assembled a stellar team of data scientists, software engineers and medical industry professionals. At the European Congress of Radiology, Europe’s largest radiology show in Vienna later this month, the world-renowned Royal Infirmary of Edinburgh hospital and the Edinburgh imaging facility QMRI will also present four abstracts as result of the collaboration on clinical validation for Veye Chest.
About Aidence
Amsterdam-based Aidence was founded in 2015 with the goal of improving medical diagnostics by applying deep learning. Its first product is Veye Chest, a solution for automated pulmonary nodule management on chest CT. For more information: https://aidence.com/
About INKEF
INKEF Capital is an Amsterdam-based venture capital firm that focuses on long-term collaboration and active support of innovative healthcare and technology companies. INKEF Capital was founded in 2010 by Dutch pension fund ABP and with €500 million under management it is one of the largest venture capital funds in the Netherlands. INKEF focuses on investment opportunities in Healthcare, Technology, IT/New Media & FinTech. For more information: http://www.INKEF.com
About Rabo Ventures
Rabo Ventures is part of Rabo Corporate Investments, the captive investment arm of Rabobank. Rabo Ventures invests seed and early growth capital in innovative companies in support to the mission of Rabobank: Growing a Better World Together. From Rabo Ventures, we are dedicated to fulfilling a supporting role and building value by leveraging Rabobank’s network, knowledge and position for the benefit of the companies we invest in the Netherlands (healthcare, sustainability, smart industries and food & agri) and globally (food & agri).”
BDC takes minority stake in SaaS software and digital solutions provider bee2link
Xavier Cotelle, founder and CEO of bee2link – a publisher of SaaS software and digital solutions for automobile players – has announced that Bridgepoint Development Capital (BDC), the smid-cap division of the international private equity group, Bridgepoint, has taken a minority shareholding. The terms of the transaction are confidential.
Supported by BDC, Xavier Cotelle and his team will continue to develop bee2link, focusing particularly on the company’s European expansion. Xavier Cotelle and the management team reinvested significantly in the transaction and will continue to manage bee2link.
bee2link is a high growth company supporting the digital transformation of the automotive retail sector. A pioneer in SaaS digital platforms and applications publishing, bee2link has enjoyed a favorable environment since its creation in 2012 and draws on the experience of its managers in automotive retail, dealerships, management/finance and ICT. Its transversal solutions – Applications open to third-party systems (APIs) – seek to digitize business processes and the customer journey and target a client base of manufacturers (OEM), groups and automobile dealerships.
Thanks to the excellent results of its solutions, bee2link has equipped the leading manufacturers in France since 2013 and is also present in Belgium and Switzerland since 2018.
bee2link is growing steadily and has ambitions to become a leading European player within five years by: (i) capitalizing on its success with leading automobile manufacturers and deploying its solutions in new European subsidiaries, (ii) expanding through both internal and external growth and entering new automobile market segments, and (iii) bolstering its position as a key market supplier through its strong technical expertise, recently strengthened by the use of artificial intelligence.
Xavier Cotelle, founder and CEO of bee2link said: “We entrusted SODICA Corporate Finance, the mergers and acquisitions arm of the Crédit Agricole Group, with finding a leading international partner to accelerate our European expansion project. Bridgepoint, through its investment portfolio of market leaders, stood out for its sector expertise and the operating quality of its team. Our shared values, essential to both our companies, convinced us they were the right choice for this project. This partnership will be a winning force, allowing us to roll-out our success in France and across Europe.”
Olivier Nemsguern, Managing Partner of BDC in France added: “In a rapidly changing automobile market, bee2link is a pioneer in the digitalization of automotive retail businesses. Its solutions cover the entire value chain and are extremely popular with leading global manufacturers. We’re delighted to partner with bee2link’s management team, at the cutting-edge of digital innovation in the automobile industry. With our international network and additional financial resources, our aim to assist the company in accelerating its European expansion”.
About Bridgepoint Development Capital (BDC)
Bridgepoint Development Capital (BDC) focuses on transactions ranging between €30 million and €200 million.
Backed by a team of 27 professionals in Europe (including nine in Paris), Bridgepoint Development Capital (BDC) is one of the very few investors in the “Smid-cap” segment able to support the international development of mid-cap companies, thanks to support from nine Bridgepoint investment offices as well as operational support teams based in New York, San Francisco and Shanghai.
Advisers in this transaction included:
For the company and shareholders: SODICA Corporate Finance
For BDC: Alantra; Mayer Brown; Deloitte; Eleven Strategy; Mckinsey; PwC.
Unitranche financing was provided by Idinvest.
Redis Labs Raises $60 Million Series E Financing to Bring Instant Experiences Everywhere
Mountain View, Calif.,—Redis Labs ( https://redislabs.com/), the home of Redis and provider of Redis Enterprise, today announced it has raised $60 million in Series E financing led by a new investor, www.franciscopartners.com, a leading global technology-focused private equity firm. The round included participation by the company’s existing investors, Goldman Sachs Private Capital Investing, Bain Capital Ventures, Viola Ventures, and Dell Technologies Capital. With this investment, Francisco Partners’ Chief Investment Officer David Golob will join the Redis Labs Board of Directors and Operating Partner Eran Gorev will join as a board observer.
Redis Labs was founded in 2011 by Ofer Bengal (CEO) and Yiftach Shoolman (CTO) around the promise of open source Redis, to deliver instant experience to modern applications at any scale, by building their datasets with native data structures and serving their applications requests directly from memory. In July 2015, Salvatore Sanfilippo, the creator of Redis, joined the company as leader of open source development. The company has now raised $146 million in total funding to-date. With these funds, the company plans to accelerate its global go-to-market execution, invest further in the enthusiastic Redis community, and continue its leadership in delivering the highest performing, most efficient database platform for modern applications.
Redis Labs’ commercial product, Redis Enterprise, is the world’s fastest database, leveraging modern in-memory technologies such as NVMe and Persistent Memory to offer cost-effective deployment over multiple public clouds and on-premise data centers. Besides its native data structures, it features a variety of data modeling techniques, such as Streams, Graph, Document and Machine Learning, with a real-time search engine. The performance and flexibility of Redis has made it consistently one of the fastest-growing and most popular databases, including becoming the first to be launched more than one billion times on Docker Hub in 2018. Additionally, through strategic partnerships with Pivotal, Red Hat and others, the company has been able to drive further enterprise adoption and success with Redis Enterprise.
“The impact of the Redis platform is being experienced everywhere as enterprises look to modernize or build new applications,” said Ofer Bengal, co-founder and CEO at Redis Labs. “This financing enables us to accelerate our strategy to deliver the fastest and most efficient database to the world and enable instant experiences for any modern application.”
“Customers and partners alike tell us that Redis Labs has built the most robust and capable database solution for real-time computing across cloud, on-premise, and hybrid environments,” said Matt Spetzler, partner and co-Head of Europe at Francisco Partners. “We are thrilled to be partnering with Redis Labs’ team as the company scales up globally to meet the needs of the Internet economy.”
About Redis Labs
Modern businesses depend on the power of real-time data. With Redis Labs, organizations deliver instant experiences in a highly reliable and scalable manner. Redis Labs is the home of Redis, the world’s most popular in-memory database, and commercial provider of Redis Enterprise that delivers superior performance, matchless reliability and unparalleled flexibility for high-speed transactions, recommendation engines, data ingest, fraud mitigation, real-time indexing, session management and caching.
Redis Labs, ranked as a leader in top analyst reports on NoSQL, in-memory databases, operational databases, and database-as-a-service, is trusted by seven Fortune 10 companies, three of the four credit card issuers, three of the top five communication companies, three of the top five healthcare companies, six of the top eight technology companies, and four of the top seven retailers.
Redis has been voted the most loved database, rated the most popular database container,, and #1 cloud database.
BDC takes minority stake in SaaS software and digital solutions provider bee2link
Xavier Cotelle, founder and CEO of bee2link – a publisher of SaaS software and digital solutions for automobile players – has announced that Bridgepoint Development Capital (BDC), the smid-cap division of the international private equity group, Bridgepoint, has taken a minority shareholding. The terms of the transaction are confidential.
Supported by BDC, Xavier Cotelle and his team will continue to develop bee2link, focusing particularly on the company’s European expansion. Xavier Cotelle and the management team reinvested significantly in the transaction and will continue to manage bee2link.
bee2link is a high growth company supporting the digital transformation of the automotive retail sector. A pioneer in SaaS digital platforms and applications publishing, bee2link has enjoyed a favorable environment since its creation in 2012 and draws on the experience of its managers in automotive retail, dealerships, management/finance and ICT. Its transversal solutions – Applications open to third-party systems (APIs) – seek to digitize business processes and the customer journey and target a client base of manufacturers (OEM), groups and automobile dealerships.
Thanks to the excellent results of its solutions, bee2link has equipped the leading manufacturers in France since 2013 and is also present in Belgium and Switzerland since 2018.
bee2link is growing steadily and has ambitions to become a leading European player within five years by: (i) capitalizing on its success with leading automobile manufacturers and deploying its solutions in new European subsidiaries, (ii) expanding through both internal and external growth and entering new automobile market segments, and (iii) bolstering its position as a key market supplier through its strong technical expertise, recently strengthened by the use of artificial intelligence.
Xavier Cotelle, founder and CEO of bee2link said: “We entrusted SODICA Corporate Finance, the mergers and acquisitions arm of the Crédit Agricole Group, with finding a leading international partner to accelerate our European expansion project. Bridgepoint, through its investment portfolio of market leaders, stood out for its sector expertise and the operating quality of its team. Our shared values, essential to both our companies, convinced us they were the right choice for this project. This partnership will be a winning force, allowing us to roll-out our success in France and across Europe.”
Olivier Nemsguern, Managing Partner of BDC in France added: “In a rapidly changing automobile market, bee2link is a pioneer in the digitalization of automotive retail businesses. Its solutions cover the entire value chain and are extremely popular with leading global manufacturers. We’re delighted to partner with bee2link’s management team, at the cutting-edge of digital innovation in the automobile industry. With our international network and additional financial resources, our aim to assist the company in accelerating its European expansion”.
About Bridgepoint Development Capital (BDC)
Bridgepoint Development Capital (BDC) focuses on transactions ranging between €30 million and €200 million.
Backed by a team of 27 professionals in Europe (including nine in Paris), Bridgepoint Development Capital (BDC) is one of the very few investors in the “Smid-cap” segment able to support the international development of mid-cap companies, thanks to support from nine Bridgepoint investment offices as well as operational support teams based in New York, San Francisco and Shanghai.
Advisers in this transaction included:
For the company and shareholders: SODICA Corporate Finance
For BDC: Alantra; Mayer Brown; Deloitte; Eleven Strategy; Mckinsey; PwC.
Unitranche financing was provided by Idinvest.
Viking Venture invests in Studentvikarie
Viking Venture, the Nordic Software Investor, is happy to announce it’s latest investment in the Swedish digital marketplace company Studentvikarie AB. Studentvikarie AB which was founded in 2015, uses advanced technology to match the need for temporary teachers in education with motivated and competent students.
– Our vision is to provide high quality temporary teachers and high quality education in schools even when the regular teacher is absent, says co-founder and CEO Gustav Bild. Studentvikarie has undergone rapid growth in Sweden reaching 48 mSEK revenues in 2018. We are happy to welcome Viking Venture as investor in order to help us to continue our growth both in Sweden and abroad.
– The strong Studentvikarie team has impressed us with their advanced platform, their deep market understanding and consistent rapid growth. We think they are ideally positioned to be the number one player in Sweden and new geographical markets, commented Eivind Bergsmyr, partner at Viking Venture and newly elected chairman of the board of Studentvikarie.
Viking Venture holds 40% of the shares of Studentvikarie after the investment while founders Kristoffer Persson and Gustav Bild continue as major shareholders together with the rest of the management team.
– We are happy to announce our 47th investment since 2001 and the first software investment headquartered in Sweden, says Erik Hagen, Managing Partner of Viking Venture. Viking Venture is the leading investor in Nordic growth stage software companies. Our large portfolio of software companies creates an efficient ecosystem for sharing of best practice among companies.