Viking Venture

Viking Venture is a private equity firm based in Trondheim, Norway, established in 2001. The firm specializes in investments in fast-growing scale-up companies, particularly in the business-to-business software sector with international potential. It manages over 2.5 billion and focuses on growth companies in various technology sectors, including information and communication technology, medical technology, and clean technology. Viking Venture seeks to invest in companies that have progressed beyond the seed phase and are ready for commercialization, typically making investments between NOK1 million and NOK5 million, with potential co-investments up to approximately $14 million. The firm generally aims for a minority stake and is an active investor, preferring to exit its investments within three to five years through trade sales or initial public offerings. In addition to its Norwegian headquarters, Viking Venture has an office in Houston, Texas, and invests primarily in the Nordic countries and the United Kingdom.

Eivind Bergsmyr

Partner

Torstein Berteig

Investment Manager

Jørgen Jøsok Bjørngaard

Senior Investment Associate

Ingvild Bostrøm

Investment Associate

Martin Senning Eriksen

Investment Manager

Erik Hagen

Managing Partner

Eirik Hjelmeland

Senior Investment Associate

Harald Kjelstad

Director

Hege Kristine Kvitsand

CFO

Andreas Loktu

Investment Manager

Shane McElroy

Partner

Jostein Vik

Partner

Joar Welde

Partner

Magnus B. Willumsen

Senior Investment Manager

63 past transactions

TimeLog

Private Equity Round in 2020
TimeLog A/S develops and delivers SaaS solutions for time tracking, resource management, and automated invoicing. The company offers time tracking, project management, invoicing, reporting, customer management, resource management, and automated project invoicing services. It serves consultancies, IT companies, consultant engineers, auditors and bookkeepers, public organizations, global organizations, and PR and marketing agencies. The company was founded in 2001 and is based in Copenhagen, Denmark. It has additional offices in Denmark, Sweden, and Malaysia.

EcoOnline

Private Equity Round in 2017
EcoOnline AS is a market leader in Chemical Documentation Management software in the Nordics.

TimeLog

Private Placement in 2020
TimeLog A/S develops and delivers SaaS solutions for time tracking, resource management, and automated invoicing. The company offers time tracking, project management, invoicing, reporting, customer management, resource management, and automated project invoicing services. It serves consultancies, IT companies, consultant engineers, auditors and bookkeepers, public organizations, global organizations, and PR and marketing agencies. The company was founded in 2001 and is based in Copenhagen, Denmark. It has additional offices in Denmark, Sweden, and Malaysia.

its learning

Venture Round in 2010
It's learning began life as a computer engineering project at Bergen University College in 1998. A group of students was puzzled by the fact that digital tools and the internet were rarely used in teaching, so for their final-year project, they created a computer program that would help connect teachers and students.

Navita Systems AS

Venture Round in 2005
Navita is a leading player in Europe in the market for systems for power, gas, and other energy and commodity trading, and has more than 100 system installations in the Nordics, Europe, North America and Asia. NAVITA has headquarters in Halden (Norway), and has grown into a global development with offices in Los Angeles (US), Houston (US), Toronto (Canada), London (UK), Edinburgh (UK), Oslo (Norway) and Frankfurt (Germany).

Attensi

Venture Round in 2018
Attensi AS develops gamified 3D simulations and workforce training software. The product consists of a simulation engine that creates 3D simulations and helps employees to virtually practice with procedures and interact with customers. The suite also includes a performance portal to track employee progress. The company caters to retail, automotive, transport, and healthcare industries. Attensi AS was founded in 2009 and is based in Oslo, Norway.

Petrostreamz

Venture Round in 2014
Petrostreamz AS is a software company with its origin in the advanced petroleum phase behavior (PVT) and streams technology developed at Petroleum Engineering Reservoir Analysts (PERA AS) since 1988. Their flagship product, Pipe-It, which was formally launched in 2011 has been providing the oil and gas industry unprecedented capability to build complex Integrated Asset Models (IAM). They have implemented solutions for assets ranging from 1 to 3000 + wells.

Signicat

Series B in 2014
Identity management delivering cloud based services for electronic signature and identification

Asolvi

Private Equity Round in 2019
Asolvi is the provider of service management software for small and medium-sized enterprises (SMEs) in the field service industry. With nearly 100 years of combined experience developing solutions for a broad array of field service sectors, Asolvi is the supplier of choice for companies seeking greater flexibility, scalability and profitability. Their three powerful products — Evatic, Tesseract and WinServ — are used in 30 countries by 800 customers, managing thousands of engineers, millions of contracts, and tens of millions of service tasks. Their mission is to continue creating, developing and honing new functionality and solutions for the largely under-served SME market, through collaboration and close relations with their customers. By understanding the issues, needs and preferences of SMEs, they’re in a prime position to deliver the robust and intelligent solutions that their increasingly service-oriented economy demands.

HR-Friend

Private Equity Round in 2021
HR-friend is building a best of breed group within HR software which will offer customers solutions for talent acquisition, onboarding and talent management

Asolvi

Venture Round in 2010
Asolvi is the provider of service management software for small and medium-sized enterprises (SMEs) in the field service industry. With nearly 100 years of combined experience developing solutions for a broad array of field service sectors, Asolvi is the supplier of choice for companies seeking greater flexibility, scalability and profitability. Their three powerful products — Evatic, Tesseract and WinServ — are used in 30 countries by 800 customers, managing thousands of engineers, millions of contracts, and tens of millions of service tasks. Their mission is to continue creating, developing and honing new functionality and solutions for the largely under-served SME market, through collaboration and close relations with their customers. By understanding the issues, needs and preferences of SMEs, they’re in a prime position to deliver the robust and intelligent solutions that their increasingly service-oriented economy demands.

Enhanced Drilling

Venture Round in 2007
Enhanced Drilling is provides drilling solutions. It offers EC-Drill managed pressure drilling system; Riserless Mud Recovery system, a risk-reduction tool; managed pressure cementing system that provides precise control of the pressure and flow of returning cement; cuttings transportation system that is used in the offshore market; CannSeal, a proprietary annular isolation technology for enhanced oil recovery for zonal isolation and well integrity applications, as well as to support to plug and abandonment, and P&A activities.

TimeLog

Acquisition in 2020
TimeLog A/S develops and delivers SaaS solutions for time tracking, resource management, and automated invoicing. The company offers time tracking, project management, invoicing, reporting, customer management, resource management, and automated project invoicing services. It serves consultancies, IT companies, consultant engineers, auditors and bookkeepers, public organizations, global organizations, and PR and marketing agencies. The company was founded in 2001 and is based in Copenhagen, Denmark. It has additional offices in Denmark, Sweden, and Malaysia.

Xait

Venture Round in 2016
Xait is a global Software Technology Company providing enterprise customers with software for document co-authoring, automation and collaboration. Our cloud-based software XaitPorter is a complete all-in-one co-authoring solution for teams to collaboratively create, manage and produce documents. Streamline and optimize your document production to maximize your revenue from bids and proposals and other business-critical documents.

poLight

Venture Round in 2016
poLight is developing micro optics components. The technology is based on proprietary and patented methods for creating active optical components based on deformable polymers. poLight's main project is to develop the world's smallest and most cost-efficient auto focus lens for micro cameras. The poLight technology is characterized by wafer scale manufacturability, compact size, low cost and high optical quality. poLight is based in Horten, outside Oslo, Norway.

MyProduction

Venture Round in 2019
MyProduction provides control systems for manufacturing companies in the SMB market. The software supports the production process from purchasing to delivery and is a critical business system for its customers. To further strengthen the company, both more acquisitions and investments in new and improved technology are planned.

Tamigo ApS

Private Placement in 2019
Tamigo ApS provides an online roster solution for the retail industry. Its product consists of various modules, such as communication for communicating with employees with free text SMS, edit front page, and upload documents; time attendance sheets that provide a registration and control over wage hours and deferred time allowance; roster, which provides plan to employees in organization; absence for obtaining an overview of employee absence; and financials, which provides the planned wage cost and wage percentages. The company’s solution is used in various industries, such as gas station and kiosk, fast food, call center, government, and retail. Tamigo ApS was founded in 2004 and is based in Lyngby, Denmark with development operations in Poland.

Revolt Technology

Series A in 2005
ReVolt Technology is a technology company, which is developing a rechargeable zinc-air battery. ReVolt's batteries may enable more high-power consumer devices, electric vehicles and renewable energy storage. The technology is a result of six years of intense research and development at SINTEF (the largest independent research institute in Scandinavia). Research on material combinations has solved issues historically related to the metal-air technology; power, lifetime and rechargeability.

Skooler

Venture Round in 2016
Skooler develops and delivers a learning platform. The company’s portfolio includes pedagogical and smart learning tools inside Office 365 for learners, teachers, and parents. It offers assignment tools to create assignments comprising links, videos, pictures, documents, and texts; store students work in a cloud storage area; and make visible to teachers, students, and parents/guardians. The company’s solution also enables to create timetables, topic plans, and lesson plans linked to the school calendar and curriculum learning objectives; and a portal to communicate with groups and individuals, such as teachers, students, or parents/guardians. Skooler was founded in 2016 and is based in Moss, Norway. Skooler operates as a subsidiary of Avantador AS.

Asolvi

Merger/Acquisition in 2019
Asolvi is the provider of service management software for small and medium-sized enterprises (SMEs) in the field service industry. With nearly 100 years of combined experience developing solutions for a broad array of field service sectors, Asolvi is the supplier of choice for companies seeking greater flexibility, scalability and profitability. Their three powerful products — Evatic, Tesseract and WinServ — are used in 30 countries by 800 customers, managing thousands of engineers, millions of contracts, and tens of millions of service tasks. Their mission is to continue creating, developing and honing new functionality and solutions for the largely under-served SME market, through collaboration and close relations with their customers. By understanding the issues, needs and preferences of SMEs, they’re in a prime position to deliver the robust and intelligent solutions that their increasingly service-oriented economy demands.

RoomSketcher

Venture Round in 2007
RoomSketcher Home Designer is an easy-to-use floor plan and home design tool. Draw floor plans, furnish and decorate them and visualize your home in 3D. Founded in January 2007, RoomSketcher is a leading online home and interior visualization online software company. RoomSketcher is located in Oslo, Norway and currently has 9 employees. The company is owned by Viking Venture II, Torrey Pines, Management and employees, and has received 5.1m in funding to date. The CEO was the co-founder of eHelp which was sold to Macromedia (now Adobe) for $65m in 2003.

poLight

Venture Round in 2009
poLight is developing micro optics components. The technology is based on proprietary and patented methods for creating active optical components based on deformable polymers. poLight's main project is to develop the world's smallest and most cost-efficient auto focus lens for micro cameras. The poLight technology is characterized by wafer scale manufacturability, compact size, low cost and high optical quality. poLight is based in Horten, outside Oslo, Norway.

EcoOnline

Private Equity Round in 2020
EcoOnline AS is a market leader in Chemical Documentation Management software in the Nordics.

Revolt Technology

Series B in 2009
ReVolt Technology is a technology company, which is developing a rechargeable zinc-air battery. ReVolt's batteries may enable more high-power consumer devices, electric vehicles and renewable energy storage. The technology is a result of six years of intense research and development at SINTEF (the largest independent research institute in Scandinavia). Research on material combinations has solved issues historically related to the metal-air technology; power, lifetime and rechargeability.

poLight

Series B in 2011
poLight is developing micro optics components. The technology is based on proprietary and patented methods for creating active optical components based on deformable polymers. poLight's main project is to develop the world's smallest and most cost-efficient auto focus lens for micro cameras. The poLight technology is characterized by wafer scale manufacturability, compact size, low cost and high optical quality. poLight is based in Horten, outside Oslo, Norway.

Nacre AS

Venture Round in 2002
Nacre AS is a Intelligent hearing system that combines adaptive hearing protection with audio communication terminal capabilities

Flowbox

Series A in 2020
Flowbox AB develops a platform that helps companies leverage User Generated Content (UGC) from social media throughout the buyer journey to increase engagement, social proof, and sales. It offers solutions for visual marketing, publishing and ecommerce. Flowbox AB was founded in 2016 and is based in Stockholm, Sweden with additional offices in Amsterdam, the Netherlands; Zurich, Switzerland; and Antwerp, Belgium.

Din ERP

Private Equity Round in 2016
Din ERP AS provides cross company collaboration enterprise portals for businesses in Norway and internationally. It offers an enterprise mobility platform for various mobility needs, including IFS and other applications; business to business solutions for IFS applications; and enterprise portals for time registration, travel expense, purchase, document management, and other applications. The company was incorporated in 2015 and is based in Trondheim, Norway.

Iqua

Series B in 2006
Iqua Ltd. develops exclusively designed headsets and handsfree devices for consumers in more than 25 countries around the world. Combining state-of-the-art technology with modern, cutting-edge Finnish design, Iqua enhances personal and professional communication with its innovative wireless mobile accessories.

OCAS AS

Venture Round in 2007
Offers radar technology that enables intelligent use of aviation lights on obstacles such as wind turbines.

Keystone Academic Solutions

Venture Round in 2018
Keystone Academic Solutions is at the forefront of higher education marketing, recruitment, and student enrollment. They have been a reliable solutions specialist to their partner institutions since 2002. Now, after more than a decade Keystone remains your premier resource for student recruitment and marketing management needs. They work directly with your admissions officers to identify the best students for your school and they help you engage with only the most qualified applicants. Keystone is based in Oslo, Norway and their global team of higher education advisors work with over 3600 higher education institutions and agencies in more than 100 countries. Their mission is to match you with the right students so that you can reach your international marketing and enrollment goals. Keystone handles everything, letting you concentrate on making meaningful engagements with prospective students. Their multilingual approach offers you the widest visibility and their geo-optimized websites offer the highest conversion rates in the industry. Students trust Keystone because their partner schools and programs appear organically in their search results, and schools rely on Keystone because their team of international specialists is always working to strengthen and develop the innovations that provide the ideal marketing and enrollment solutions. At Keystone Academic Solutions, their passion for international higher education forms the core of their commitment to finding the right solutions to your needs, and they are excited to be alongside your school as a trusted partner in the ever evolving sector of global higher education.

Plasus Technologies

Venture Round in 2003
Plasus Technologies is a developer and service provider of mobile to machine communication services. The company focuses on energy control and alarm handling solutions for consumers; remote control business to business concepts to manage various M2M devices for businesses and government; and handle order, billing, and support solutions for service providers and partners.

Zilift Limited

Venture Round in 2012
ZiLift Limited, an oil and gas technology company, develops magnet technologies to put downhole pumps. The company provides TorqueDrive, a down-hole drive for progressing cavity pumps using permanent magnet motor and gear technologies; and SpeedDrive technology, a centrifugal pump designed for deploying on cable through the production tubing. The company was incorporated in 2009 and is based in Aberdeen, United Kingdom with a location in Bakersfield, California.

FotoWare

Private Equity Round in 2020
As of April 30, 2020, operates as a subsidiary of Viking Ventures GmbH.

Mercell

Private Placement in 2018
Aksess Innkjøp provides a cloud based solution for the public sector and their vendors, digitizing the procurement process from announcement to purchase.

Encode

Private Equity Round in 2021
You probably know the challenge: producing the entire portfolio of marketing materials at the right cost - without spending too much time and too many resources. What you need is a workflow tool! Marketing today is about processes and data, and that is the core of Encode. We are the market-leading efficiency and automation platform for retailers, agencies, manufacturers and brand owners. We help to streamline their marketing production processes to deliver increased productivity and cost savings for Multi-channel output. At Encode, we have a 360-degree approach to your Time to Market. We work to boost your agility and your commercial benefits by identifying all possible optimizations. At Encode, we simplify all levels of the marketing production process. Encode’s software creates smart end-to-end functionality that delivers the ability to speed content planning, creation, approval and management. Each employee in Encode is specialized within their field, and as a team, we complement each other. That’s why we can offer our customers 360 degrees of professional services. We are SAAS/cloud-based and have all in one system: Multi-Channel Marketing Management Creative Project Management Product Content Management Brand Management Experts within the following industries: Retailers Agencies Private label product manufacturing Brand owners Financial Services Content factories

ExproSoft

Venture Round in 2010
ExproSoft is a software & consultancy company increasing well uptime for oil & gas operators. They deliver solutions that allow the operators to understand the failures and risk of well equipment, and use this knowledge to reduce intervention cost and increase production throughout the wells’ life cycle.

House of Control

Venture Round in 2015
A unique solution for total control over all contracts and agreements

EcoOnline

Private Equity Round in 2014
EcoOnline AS is a market leader in Chemical Documentation Management software in the Nordics.

EcoOnline

Acquisition in 2014
EcoOnline AS is a market leader in Chemical Documentation Management software in the Nordics.

Mercell

Venture Round in 2018
Aksess Innkjøp provides a cloud based solution for the public sector and their vendors, digitizing the procurement process from announcement to purchase.

MorphPackers

Venture Round in 2017
MorphPackers Limited manufactures re-frac packers and production packers for the global oil and gas sector. The company's products include STORM re-frac packer, that re-stimulates existing wells while maintaining maximum ID and enhancing field recovery, and CENTURION, that represents a complete rethink of production packer technology offering strength and sealing capabilities. MorphPackers Limited was incorporated in 2014 and is based in Aberdeen, United Kingdom.

Attensi

Venture Round in 2021
Attensi AS develops gamified 3D simulations and workforce training software. The product consists of a simulation engine that creates 3D simulations and helps employees to virtually practice with procedures and interact with customers. The suite also includes a performance portal to track employee progress. The company caters to retail, automotive, transport, and healthcare industries. Attensi AS was founded in 2009 and is based in Oslo, Norway.

Signicat

Series B in 2016
Identity management delivering cloud based services for electronic signature and identification

Ørn Software

Venture Round in 2017
Ørn Software develops digital solutions that give you a full overview of all business-critical processes in your own business. Its solutions ensure efficient operation, better collaboration, and help you save time, environment and money.

Attensi

Venture Round in 2017
Attensi AS develops gamified 3D simulations and workforce training software. The product consists of a simulation engine that creates 3D simulations and helps employees to virtually practice with procedures and interact with customers. The suite also includes a performance portal to track employee progress. The company caters to retail, automotive, transport, and healthcare industries. Attensi AS was founded in 2009 and is based in Oslo, Norway.

Asolvi

Venture Round in 2018
Asolvi is the provider of service management software for small and medium-sized enterprises (SMEs) in the field service industry. With nearly 100 years of combined experience developing solutions for a broad array of field service sectors, Asolvi is the supplier of choice for companies seeking greater flexibility, scalability and profitability. Their three powerful products — Evatic, Tesseract and WinServ — are used in 30 countries by 800 customers, managing thousands of engineers, millions of contracts, and tens of millions of service tasks. Their mission is to continue creating, developing and honing new functionality and solutions for the largely under-served SME market, through collaboration and close relations with their customers. By understanding the issues, needs and preferences of SMEs, they’re in a prime position to deliver the robust and intelligent solutions that their increasingly service-oriented economy demands.

Studentvikarie Sverige AB

Private Placement in 2019
Studentvikarie Sverige AB provides staffing and recruitment services. The company is based in Gothenburg, Sweden.

Safetel

Venture Round in 2003
Safetel AS provides wireless security alarm transmission services. It offers intruder alarm transmission and fire alarm transmission services for banks, Swedish and Norwegian communes, and security companies in Norway, Sweden, Scandinavia, and Denmark. The company uses mobile networks as the primary route for secure alarm transmission, as well as provides alarm transmission services based on fixed and terrestrial based networks.

Nanoradio

Venture Round in 2010
Nanoradio AB, a fabless semiconductor company, provides wireless solutions for cellular handset and consumer electronics markets. It offers multimedia products, single chip system in package, wireless LAN products, mobile phone products, and chipsets. The company also provides software, including diagnostic tools and software development kits to design embedded applications. Nanoradio’s products are used in voice over IP in wireless phones, headsets, portable audio and stereo devices, handheld computing devices, PDAs, handheld digital video and still cameras, and mobile gaming platforms; and convergence mobile phones and consumer electronics. The company was founded in 2004 and is based in Kista, Sweden with sales offices in Korea, Japan, and the United States. Nanoradio AB operates as a subsidiary of Wireless Experience AB.

MemfoACT

Venture Round in 2010
MemfoACT has proprietary technology for upgrading of biogas and separation of other gases. MemfoACT AS was founded in August 2008, as a joint venture between NTNU Technology Transfer (TTO) and the entrepreneurs professor May-Britt Hägg, PhD Jon Arvid Lie and PhD Arne Lindbråthen. The company core business is gas purification, with focus on biogas upgading to fuel quality using a novel carbon molecular sieve membrane. This membrane is capable of performing the separation to spec with acceptable recovery in a single stage setup. This gives this membrane a significant advantage in this process compared with competing polymer membranes.

Signicat

Series A in 2008
Identity management delivering cloud based services for electronic signature and identification

Tamigo

Venture Round in 2019
Tamigo – your global Workforce Management Solution in the Cloud. Since 2006, Tamigo has been a vital business partner for small to medium-sized companies as well as international enterprises – mainly within retail and hospitality. Together with our customers, we revolutionize Workforce Management through smart processes, new insights and unique alignment on improving future performance. Get ahead by optimizing operations and staff management, increase sales, reduce labor costs, automate workflows and empower your employees through effective communication. At Tamigo, we make workforce management smarter. With headquarters in the heart of Copenhagen and franchisees in many parts of Europe, we work to make life easier for tens of thousands of people every day.

Signicat

Merger/Acquisition in 2019
Identity management delivering cloud based services for electronic signature and identification

Nanoradio

Venture Round in 2009
Nanoradio AB, a fabless semiconductor company, provides wireless solutions for cellular handset and consumer electronics markets. It offers multimedia products, single chip system in package, wireless LAN products, mobile phone products, and chipsets. The company also provides software, including diagnostic tools and software development kits to design embedded applications. Nanoradio’s products are used in voice over IP in wireless phones, headsets, portable audio and stereo devices, handheld computing devices, PDAs, handheld digital video and still cameras, and mobile gaming platforms; and convergence mobile phones and consumer electronics. The company was founded in 2004 and is based in Kista, Sweden with sales offices in Korea, Japan, and the United States. Nanoradio AB operates as a subsidiary of Wireless Experience AB.

MaXware

Series A in 2005
MaXware AS, an independent software vendor, provides identity management products and services that support the life cycle of digital identities. Its solutions include access and password management, identity administration, provisioning, and directory services and federation, as well as auditing, reporting, logging, and monitoring of systems. The company's products include Identity Center that optimizes the lifecycle management of users and resources; Data Synchronization Engine, a solution for handling, synchronizing, converting, and joining data to and from data repository; ExpresSync, a one-to-one data synchronization tool that enables enterprises to manage identity integration; Virtual Directory, which provides a single access point to various data sources; Federation Server that integrates virtual directory and federation technology into a solution with a single management interface; and Directory Explorer, a plug-in for Windows Explorer and integrated into Microsoft Outlook for providing access to the configured directory servers. It serves telecom, defense, government, and financial organizations. MaXware AS was founded in 1989 and is based in Trondheim, Norway. As of May 21, 2007, MaXware AS is a subsidiary of SAP AG.

4Subsea

Private Equity Round in 2014
4Subsea is a leading provider of technology and services that help operators maintain production from subsea oil and gas fields and offshore wind farms. By combining expert engineering competence, practical experience and a digital service, we ensure the integrity of subsea assets all the way from reservoir to deck. The company was founded in 2007 and our clients include all the major oil and gas operators as well as the large suppliers of subsea equipment. 4Subsea delivers solutions on a unique digital platform, aiming to be in the forefront of digitising oil, gas and offshore wind operations worldwide.

Flowbox

Private Placement in 2020
Flowbox AB develops a platform that helps companies leverage User Generated Content (UGC) from social media throughout the buyer journey to increase engagement, social proof, and sales. It offers solutions for visual marketing, publishing and ecommerce. Flowbox AB was founded in 2016 and is based in Stockholm, Sweden with additional offices in Amsterdam, the Netherlands; Zurich, Switzerland; and Antwerp, Belgium.

Checkproof

Venture Round in 2024
CheckProof is the ideal tool for digitizing your work with preventive maintenance, quality and health & safety. Let’s secure value. Digitally.