Rite Ventures

Rite Ventures is a private equity and venture capital firm based in Stockholm, Sweden, established in 2007. The firm specializes in investments across various stages, including seed, startup, early venture, growth stage, and buyouts, focusing primarily on companies in the Nordic region, particularly Sweden and Finland. Rite Ventures targets sectors such as information technology, software as a service, IT services, e-commerce, gaming, and digital brands. The firm typically invests between €1 million and €20 million, with a focus on companies generating between €3 million and €20 million in turnover. Rite Ventures aims to be an active investor, working to transform early growth companies and positioning them for expansion into the mid-market. It employs a well-defined value creation process and seeks both majority and minority stakes in its investments, with a typical holding period of three to six years, planning exits through IPOs or sales to private equity firms or industrial players.

Sandra Backlund

CFO

Axel Medefelt-Westphalen

Investment Manager

Victor Mellgren

Investment Manager

Sofia Nas

Associate

Michael Richter

Partner

Josephine Salenstedt

Partner

18 past transactions

Therma

Venture Round in 2021
Therma specializes in developing and manufacturing wireless temperature and humidity sensors aimed at enhancing food management and reducing food waste. Utilizing Internet of Things (IoT) technology, the company's software and hardware tools facilitate data-driven refrigeration management, thereby improving food safety and minimizing product loss. Therma serves a diverse clientele across various sectors, including food service, healthcare, hospitality, and manufacturing, partnering with notable organizations such as major restaurant chains and convenience stores. The company's solutions not only improve operational efficiency and sustainability but also contribute to climate change mitigation by preventing waste. With its headquarters in San Francisco, California, and an office in Cebu, Philippines, Therma is committed to supporting businesses in their pursuit of profitability while promoting environmental stewardship.

Grönska

Venture Round in 2021
Grönska is a young, Swedish tech-company that develops technology for vertical farming, and grows and sells vegetables and herbs. Vertical farming that is based on the use of LED lighting and hydroponic watering systems. This method allows us to grow food indoors, locally and all year round. The reason we do this is to offer a sustainable, locally grown alternative to imported food and to enable more self-sufficient cities. Grönska was founded in 2014 and constructed the largest vertical farm in the Nordics in 2018.

Qliro Group

Post in 2020
Qliro Group, now part of Nelly Group AB, is a prominent e-commerce entity in the Nordic region, offering a diverse range of services. It operates primarily through three business segments: CDON Marketplace, Nelly, and Qliro Financial Services. The CDON Marketplace features an extensive online department store selling various consumer goods, including electronics, clothing, and toys. The Nelly segment focuses on fashion and beauty products targeted at young women and men. Additionally, Qliro Financial Services provides financial solutions tailored for both merchants and consumers, enhancing the overall shopping experience. The group serves over 1,200 merchants and attracts approximately 250 million annual visits, resulting in around 8 million orders from 4 million active customers. Established in 1999 and headquartered in Stockholm, Sweden, Qliro Group has evolved into a central player in the Nordic e-commerce landscape.

Söder Sportfiske

Venture Round in 2018
Söder Sportfiske AB resells sports fishing equipment online including lures, reels, rods, clothing, equipment and accessories. The company is based in Stockholm, Sweden.

Qliro Group

Post in 2017
Qliro Group, now part of Nelly Group AB, is a prominent e-commerce entity in the Nordic region, offering a diverse range of services. It operates primarily through three business segments: CDON Marketplace, Nelly, and Qliro Financial Services. The CDON Marketplace features an extensive online department store selling various consumer goods, including electronics, clothing, and toys. The Nelly segment focuses on fashion and beauty products targeted at young women and men. Additionally, Qliro Financial Services provides financial solutions tailored for both merchants and consumers, enhancing the overall shopping experience. The group serves over 1,200 merchants and attracts approximately 250 million annual visits, resulting in around 8 million orders from 4 million active customers. Established in 1999 and headquartered in Stockholm, Sweden, Qliro Group has evolved into a central player in the Nordic e-commerce landscape.

Salesbox CRM

Seed Round in 2015
We believe that sales is all about people, numbers and focus. Salesbox provide the world with solutions that makes people successful in sales by encouraging to go beyond the expected boundaries. Salesbox is the #1 predictive and mobile CRM for those that want to be successful in sales. With Salesbox you also get accurate forecasts since they build on dynamic activity based processes and not status based processes and guesswork. The problem with traditional CRM systems is that they work much like reporting tools and give you little guidance to do more and better business. The single most unique thing with Salesbox is that it works like a sales GPS. Exactly like the regular GPS guides you towards your physical target, Salesbox guides you towards your sales targets. Exactly like the regular GPS can support different routes, Salesbox supports different sales processes, each can be unique to you as a user and provide you the most efficient way to your destination.

Mathem

Venture Round in 2014
MatHem i Sverige AB offers online retail of food and household products. It provides organic goods; grocery; prescription; health, party and feast, business and association, health, recipes from food bags, collaborations, weekday and weekend inspired food; wine; dairy products; bakery; meat and chark; drinks; pantry; fish; finished food and snacks; glass candy and snacks; baby food and accessories; pharmacy, hygiene and health; spices and flavorers; animal food and accessories; and kiosk and newspapers. The company is based in Stockholm, Sweden.

Modular Finance

Venture Round in 2014
Modular Finance was founded in 2013 by Petter Hedborg and Måns Flodberg previously been behind investing platform Introduce founded in parallel with studies at the School, and was sold to Remium 2012. CTO of Modular Finance Rasmus Holm who has background from Netlight and Spotify. On the owner side are, in addition founder and CTO, Rite Ventures that have been early investors including Unibet, Neonet and Nebula. Modular Finance has the ambition to be a leading player in the development of new digital tools to the financial market. By combining a genuine passion for both the stock market as an IT goal is to create the ultimate tool for companies and investors in both existing and new niches. Learn more about their products via the menu above!

Innohome

Venture Round in 2014
Innohome Oy is a Finnish company based in Espoo, specializing in the development and manufacture of advanced fire safety devices for kitchens. Founded in 2005, Innohome produces intelligent products such as the Stove Alarm SA101, which alerts users to gas production, and the Stove Guard series, which includes heat sensors and fire protection devices for stoves and portable hotplates. These innovative products utilize state-of-the-art technology to detect potential hazards before they escalate, effectively turning off appliances and activating alarms to prevent fires. Innohome's offerings are designed to enhance household safety by addressing user errors and faults that could lead to dangerous situations. The company distributes its products through various retailers and distributors, focusing on reducing the risk of kitchen fires, which account for a significant portion of household fires.

Skincity

Venture Round in 2014
Skincity Sweden AB is an e-commerce platform based in Täby, Sweden, specializing in the sale of premium skincare and makeup products. The company focuses on enhancing skin health through professional-grade offerings recommended by qualified skin therapists, all of whom hold the CIDESCO diploma. Skincity provides a diverse range of products across face care, body care, and men's grooming categories, ensuring that customers receive high-quality items typically found only in beauty salons. Additionally, the company offers skin testing services, further personalizing the shopping experience. Since December 15, 2017, Skincity has operated as a subsidiary of Axel Johnson AB, emphasizing its commitment to delivering a luxurious and tailored experience for its customers.

Omni Partners

Venture Round in 2010
Omni Partners Oy, founded in 2011 and located in Hämeenlinna, Finland, specializes in digital strategy and software consultancy services. The company focuses on supporting e-retailers by providing expertise in ecommerce and content management system platforms, web analytics, and digital marketing software. Its mission is to enhance the profitability of e-retailers in a competitive international market. As of April 2017, Omni Partners operates as a subsidiary of Digia Oyj, further bolstering its capabilities in delivering effective digital solutions.

Verkkokauppa.com

Venture Round in 2009
Verkkokauppa.com Oyj is a leading consumer electronics retailer in Finland, established in 1992 and headquartered in Jätkäsaari, Helsinki. The company operates both online and through physical stores located in Helsinki, Pirkkala, and Oulu, as well as offering products at over 2,000 post offices and 500 R-kiosks across the country. Verkkokauppa.com provides a wide range of products, including computer technology, consumer electronics, toys, games, and navigation items. The company emphasizes customer service by handling warranty issues in-house and offering a 32-day money-back guarantee. Its revenue is primarily generated from the sale of goods and services, including installation and maintenance. With a focus on transparency in pricing and product availability, Verkkokauppa.com aims to deliver a seamless shopping experience, ensuring customer satisfaction as a top priority.

Frank Dandy

Venture Round in 2009
Frank Dandy AB, founded in 2003 in Sweden, specializes in designing, manufacturing, and selling a diverse range of underwear for both men and women. In addition to underwear, the company offers socks, swimwear, and other clothing items. Frank Dandy operates retail stores in various countries, including Australia, Austria, Denmark, Finland, Germany, Norway, Russia, Sweden, Japan, Canada, and the United States, and also maintains a strong online presence. The company was established as a response to the lack of creativity in men's underwear fashion, aiming to provide stylish and unique options to consumers. Its headquarters are located in Stockholm, Sweden, with additional offices in Denmark, Japan, Norway, Finland, and the Baltics.

24 Media Network

Seed Round in 2008
24 Media Network AB, founded in 2007 and based in Stockholm, Sweden, owns and operates Nyheter24, an online newspaper that delivers news across various topics, including debate, sports, lifestyle, food, shopping, and entertainment. The company's web portal serves as a platform for engaging content, catering to a diverse audience seeking information and insights on contemporary issues and interests.

Klikki

Venture Round in 2008
KliKKi is a fast growing Nordic Digital Marketing Agency with offices in Helsinki, Stockholm, Piteå, Copenhagen and Oslo. Their focus is to provide always on services that maximize the total effect of their customer’s marketing budgets and increase their sales.

Nyheter24-Gruppen

Venture Round in 2008
Nyheter24 Group is Sweden's fastest growing media house and turn to those who have grown up with the Internet and digital media. They have nearly 10 million visits to their sites each week and is the largest digital media company the target group 15-44 years. The company was founded in 2008 by Douglas Roos and Patrik Sandberg. Today, they have about 50 employees and is located in central Stockholm. They are a young, entrepreneurial and driven media company that is characterized by creativity and digital expertise.

NORM

Venture Round in 2007
NORM is an independent research and consultancy firm established in 2003, focusing on consumer and shopper behavior analysis. The company developed Simstore, an internet-based tool designed for conducting virtual shopper research within the fast-moving consumer goods (FMCG) industry. By creating virtual store environments, NORM addresses the growing need to understand shopper dynamics at the point of purchase, allowing businesses to gain insights into consumer decision-making processes. Through its innovative approach, NORM aids clients in predicting and understanding market trends and shopper preferences.

Nebula

Venture Round in 2007
Nebula is a Finnish ICT service company whose services ensure a secure and reliable IT environment for its customers. They recognize that your company has individual needs, and they have designed their services to improve the efficiency of your operations and create new opportunities for you. Regardless of the size and industry of your company, their comprehensive service range offers you the opportunity to improve the efficiency, reliability and availability of your ICT functions. They have an exceptionally strong reputation as a fast and flexible provider of high-quality services. Their most recent average customer score from tens of thousands of customers on a scale of 1–5 is 4.2, and 90% of their customers are prepared to recommend us. This gives us a strong foundation for further improvement. Their high customer satisfaction is due to their flexible approach to operations in order to meet individual needs, as well as solutions based on best practices. Their emphasis on innovation ensures that their high-quality services will be continuously developed further. Their operations have always been profitable. They are a financially sound company that recorded net sales of approximately EUR 28.6 million in 2014. Services they produce cover currently 17% of all Internet traffic in Finland.
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