Alarm and event handling company Skyresponse has raised EUR5 million through a combination of investment from venture capital investor Nordic Eye and existing shareholders.
The additional capital will help drive the company’s success story from the Nordic markets into Europe.
Skyresponse is an established and trusted Swedish Software-as-a-Service (SaaS) company which offers a 100 per cent cloud-based alarm management platform used by major international care and security organisations across the public and private sectors, offering a flexible, secure, and resilient alarm management platform solution for: Alarm response centres; technology enabled care; supported housing and retirement living; residential and domiciliary care; lone worker protection; facility Management; and smart buildings.
In recent years, Skyresponse has grown from managing over 700,000 alarms per month in October 2018 to today handling around seven million alarms per month, and Skyresponse has now more than 700 companies and organisations that use the company’s services. The company’s ARR growth has been >100 per cent pre-covid and post covid averaging at 60 per cent ARR, (limited due to Covid-19). Skyresponse is seen as trusted partner by Doro, Addlife/Hepro, Viser among other partners in the eco-system. The company is based in Stockholm and Luleå in Sweden, one team in Ukraine, and just recently expanded to UK and Ireland with a local subsidiary, Skyresponse UK Limited, and an initial go to market team.
Skyresponse CEO Martin Reidevall says: “We at Skyresponse has built our products and solutions around the vision to improve lives in a connected world. With this investment we can now approach the EU and UK market with the solutions that has made so much difference for both the caregivers/caretakers as well as the end users/objects in Sweden and Norway. In the end we save lives and memories”.
The venture capital Nordic Eye will not just bring capital to the company but also their ability to help accelerate the business and international growth. Ib Drachmann-Hansen, Investment Manager & Partner at Nordic Eye Venture Capital has concurrently joined the board of Skyresponse AB.
“We have followed Skyresponse very closely for more than eight months, where they have proved that they possess both a skilled team, and an exceptional, competitive product, within IoT alarms. Skyresponse is a well-established player on the Nordic market and is already present in more than ten countries in Europe in a number of important market segments. So, we have high expectations that our new investment in Skyresponse can benefit both them and us,” says Ib Drachmann-Hansen, Nordic Eye Venture Capital.
