Viking Venture

Viking Venture is a private equity firm based in Trondheim, Norway, established in 2001. The firm specializes in investing in fast-growing scale-up companies in the Nordics, with a particular focus on business-to-business software enterprises that possess international growth potential. Viking Venture manages over 2.5 billion and aims to support companies that are poised for significant expansion. The firm's expertise lies in identifying and nurturing businesses that can thrive in the competitive European market.

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

Past deals in Norway

Attensi

Venture Round in 2021
Attensi AS, founded in 2009 and based in Oslo, Norway, specializes in developing gamified 3D simulations and workforce training software tailored for various industries, including retail, automotive, transport, and healthcare. The company's innovative training solutions utilize a simulation engine that allows employees to virtually practice procedures and engage with customers in realistic environments. This approach not only enhances employee skill development but also drives measurable improvements in organizational performance. In addition to the simulation software, Attensi offers a performance portal that tracks employee progress, providing valuable insights into training effectiveness. By combining elements of gamification with principles of workplace psychology, Attensi aims to foster genuine behavioral change and maximize the potential of teams within large organizations.

FotoWare

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

EcoOnline

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

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.

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.

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.

Attensi

Venture Round in 2018
Attensi AS, founded in 2009 and based in Oslo, Norway, specializes in developing gamified 3D simulations and workforce training software tailored for various industries, including retail, automotive, transport, and healthcare. The company's innovative training solutions utilize a simulation engine that allows employees to virtually practice procedures and engage with customers in realistic environments. This approach not only enhances employee skill development but also drives measurable improvements in organizational performance. In addition to the simulation software, Attensi offers a performance portal that tracks employee progress, providing valuable insights into training effectiveness. By combining elements of gamification with principles of workplace psychology, Attensi aims to foster genuine behavioral change and maximize the potential of teams within large organizations.

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.

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.

EcoOnline

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

Attensi

Venture Round in 2017
Attensi AS, founded in 2009 and based in Oslo, Norway, specializes in developing gamified 3D simulations and workforce training software tailored for various industries, including retail, automotive, transport, and healthcare. The company's innovative training solutions utilize a simulation engine that allows employees to virtually practice procedures and engage with customers in realistic environments. This approach not only enhances employee skill development but also drives measurable improvements in organizational performance. In addition to the simulation software, Attensi offers a performance portal that tracks employee progress, providing valuable insights into training effectiveness. By combining elements of gamification with principles of workplace psychology, Attensi aims to foster genuine behavioral change and maximize the potential of teams within large organizations.

Ørn Software

Venture Round in 2017
Ørn Software develops Software-as-a-Service (SaaS) solutions tailored for efficient operations and maintenance across various industries, including real estate, manufacturing, food and beverages, and aquaculture. The company's offerings provide a comprehensive overview of essential business processes, facilitating improved collaboration and operational efficiency. Ørn Software's solutions aim to help businesses save time, reduce environmental impact, and lower costs, while addressing specific needs in real estate management, industrial maintenance and quality control, as well as energy and sustainability management.

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 ASA, headquartered in Horten, Norway, specializes in developing advanced photographic lenses for consumer devices and industrial applications. The company focuses on micro-optics autofocus components, particularly for mobile phone cameras, wearables such as smart glasses and watches, and various industrial uses including medical and retail sectors. Its flagship product, the Tunable Optical Lens (TLens), mimics the human eye and allows for efficient autofocus capabilities. The technology is based on proprietary methods that utilize deformable polymers, offering compact size, low production costs, and high optical quality. In addition to TLens, poLight provides ASIC drivers that manage voltage supply to these lenses, enabling precise focus adjustments. The company operates across Europe, Asia, and the United States and was founded in 2005.

Signicat

Series B in 2016
Signicat is a digital identity service provider based in Europe, specializing in electronic identity and signature solutions. The company offers cloud-based services that facilitate user identification and electronic signing for both public and private sector clients. Signicat's solutions are designed to meet international standards and regulatory requirements, including privacy, anti-money laundering, and know your customer regulations. By providing advanced security technologies, Signicat helps organizations enhance their operational efficiency and deliver improved user experiences while mitigating risks associated with identity verification. Its clientele includes banks, financial institutions, insurance companies, government agencies, and businesses of all sizes. Founded in 2006 as Kantega Secure Identity, the company has grown to establish a presence in multiple countries, including the UK, Germany, the Netherlands, Portugal, Denmark, Sweden, Finland, and Norway. Signicat is committed to providing reliable services with banking-grade service level agreements to ensure scalability and trust.

Skooler

Venture Round in 2016
Skooler is a learning platform based in Moss, Norway, that provides pedagogical and smart learning tools integrated within Office 365. Founded in 2016, the company caters to learners, teachers, and parents by offering a suite of tools designed to streamline educational processes. Skooler's platform enables the creation of assignments that can include various multimedia elements, cloud storage for student work, and visibility for teachers and guardians. Additionally, it facilitates the development of timetables, topic plans, and lesson plans aligned with school curricula. The platform also features communication tools that connect teachers, students, and parents, thereby enhancing the overall educational experience. Skooler operates as a subsidiary of Avantador AS, focusing on leveraging technology to improve teaching efficiency and reduce administrative burdens.

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.

House of Control

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

poLight

Venture Round in 2015
poLight ASA, headquartered in Horten, Norway, specializes in developing advanced photographic lenses for consumer devices and industrial applications. The company focuses on micro-optics autofocus components, particularly for mobile phone cameras, wearables such as smart glasses and watches, and various industrial uses including medical and retail sectors. Its flagship product, the Tunable Optical Lens (TLens), mimics the human eye and allows for efficient autofocus capabilities. The technology is based on proprietary methods that utilize deformable polymers, offering compact size, low production costs, and high optical quality. In addition to TLens, poLight provides ASIC drivers that manage voltage supply to these lenses, enabling precise focus adjustments. The company operates across Europe, Asia, and the United States and was founded in 2005.

Signicat

Series B in 2014
Signicat is a digital identity service provider based in Europe, specializing in electronic identity and signature solutions. The company offers cloud-based services that facilitate user identification and electronic signing for both public and private sector clients. Signicat's solutions are designed to meet international standards and regulatory requirements, including privacy, anti-money laundering, and know your customer regulations. By providing advanced security technologies, Signicat helps organizations enhance their operational efficiency and deliver improved user experiences while mitigating risks associated with identity verification. Its clientele includes banks, financial institutions, insurance companies, government agencies, and businesses of all sizes. Founded in 2006 as Kantega Secure Identity, the company has grown to establish a presence in multiple countries, including the UK, Germany, the Netherlands, Portugal, Denmark, Sweden, Finland, and Norway. Signicat is committed to providing reliable services with banking-grade service level agreements to ensure scalability and trust.

EcoOnline

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

EcoOnline

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

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.

Petrostreamz

Venture Round in 2014
Petrostreamz AS is a software company specializing in the development of advanced modeling solutions for the oil and gas industry. Originating from technology established at Petroleum Engineering Reservoir Analysts, the company focuses on creating tools that enable the integration and optimization of petroleum assets. Its flagship product, Pipe-It, launched in 2011, offers users the ability to construct complex Integrated Asset Models (IAM) graphically and computationally. Petrostreamz serves a diverse clientele, including universities, smaller consultancy firms, and research organizations across the globe. In addition to its software offerings, the company provides customized modules, consulting services, IAM training, and optimization solutions. Founded in 2005 and headquartered in Trondheim, Norway, Petrostreamz has expanded its presence with offices in the United States, Brazil, Indonesia, Saudi Arabia, and France. As of 2018, it operates as a subsidiary of Tieto Oyj.

poLight

Series B in 2011
poLight ASA, headquartered in Horten, Norway, specializes in developing advanced photographic lenses for consumer devices and industrial applications. The company focuses on micro-optics autofocus components, particularly for mobile phone cameras, wearables such as smart glasses and watches, and various industrial uses including medical and retail sectors. Its flagship product, the Tunable Optical Lens (TLens), mimics the human eye and allows for efficient autofocus capabilities. The technology is based on proprietary methods that utilize deformable polymers, offering compact size, low production costs, and high optical quality. In addition to TLens, poLight provides ASIC drivers that manage voltage supply to these lenses, enabling precise focus adjustments. The company operates across Europe, Asia, and the United States and was founded in 2005.

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.

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.

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.

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.

poLight

Venture Round in 2009
poLight ASA, headquartered in Horten, Norway, specializes in developing advanced photographic lenses for consumer devices and industrial applications. The company focuses on micro-optics autofocus components, particularly for mobile phone cameras, wearables such as smart glasses and watches, and various industrial uses including medical and retail sectors. Its flagship product, the Tunable Optical Lens (TLens), mimics the human eye and allows for efficient autofocus capabilities. The technology is based on proprietary methods that utilize deformable polymers, offering compact size, low production costs, and high optical quality. In addition to TLens, poLight provides ASIC drivers that manage voltage supply to these lenses, enabling precise focus adjustments. The company operates across Europe, Asia, and the United States and was founded in 2005.

Signicat

Series A in 2008
Signicat is a digital identity service provider based in Europe, specializing in electronic identity and signature solutions. The company offers cloud-based services that facilitate user identification and electronic signing for both public and private sector clients. Signicat's solutions are designed to meet international standards and regulatory requirements, including privacy, anti-money laundering, and know your customer regulations. By providing advanced security technologies, Signicat helps organizations enhance their operational efficiency and deliver improved user experiences while mitigating risks associated with identity verification. Its clientele includes banks, financial institutions, insurance companies, government agencies, and businesses of all sizes. Founded in 2006 as Kantega Secure Identity, the company has grown to establish a presence in multiple countries, including the UK, Germany, the Netherlands, Portugal, Denmark, Sweden, Finland, and Norway. Signicat is committed to providing reliable services with banking-grade service level agreements to ensure scalability and trust.

OCAS AS

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

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.

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.

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).

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.

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.

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.

Nacre AS

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