Annons

Annons

Upsales completes a pre-IPO placement of 47 MSEK led by Swedbank Robur

December 13, 2018

Upsales (www.upsales.com), a fast-growing SaaS company that delivers a technology platform for CRM and Marketing Automation, announced today that the company has completed a pre-IPO placement of 47 million SEK. Investors in the placement include Swedbank Robur together with a number of family offices and private investors.

The company is planning an IPO on Nasdaq First North in the first half of 2019.

- We have a proven track record with profitable, rapid growth and our ambition is to grow revenues by 40 per cent annually while maintaining profitability and strong cash flows, says Daniel Wikberg, CEO & Founder of Upsales. The European market for CRM and Marketing Technology is growing fast as more companies go from installed legacy solutions to cloud-based systems.

- We are very proud and excited at Swedbank Robur, to support Upsales and its entrepreneurs with our investments in the company, says Henrik Carlman and Johan Strand, Portfolio Managers at Swedbank Robur. We find that Upsales strong profitable growth will create substantial value for our unit holders.

- Almost 90 per cent of our revenues are recurring subscription revenues, continues Daniel Wikberg, CEO of Upsales. A smaller part comes from the consultancy business, and it is a strength. Our customers have been with us for a long time, in our product they can measure the results of sales and marketing efforts and find a mix that works for them. It is practical and measurable.

- Upsales is a great example of a company that we like to invest in, continues Henrik Carlman and Johan Strand,  at Swedbank Robur. The company is characterized by a strong profitable business model, high degree of recurring revenue and a great potential to scale up the business internationally. The Software As A Service (SaaS) cluster in Stockholm keeps on producing great companies and we are happy to be on board.

Erik Penser Bank acted as financial advisor in the transaction.