GRO Capital invests in Danish virtual waiting room software Queue-it
GRO Capital has agreed to become the new majority shareholder and provide further capital into Queue-it, a virtual waiting room software application, to accelerate growth.
With the entrance of GRO, the former investors will no longer be shareholders in Queue-it.
GRO will partner with Queue-it’s management team to accelerate product innovation, grow the company's partner network, and enhance sales and marketing efforts, as well as continue expanding its position in North America and building greater depth in the European and Asian markets, according to the company.
“GRO brings a unique combination of competencies that will support our international expansion,” said Lars Dybkjær, managing partner at GRO Capital. “The need for web performance solutions is rapidly increasing across markets as more and more online activities happen in peaks, which is exactly what our SaaS is built for.”
Headquartered in Copenhagen, Denmark, Queue-it has more than 85 employees across offices in Copenhagen, Minneapolis, MN and Sydney.
The company supports a global customer base in controlling online traffic during massive end-user peaks in connection with product launches, ticket on-sales, shopping holidays like Black Friday, and other activities that drive significant attention to websites and apps.
“Throughout Queue-it’s journey we have felt strongly about proving that it is indeed possible to grow a company with a Danish foundation, so this was also important in our evaluation of potential investment partners and we are very happy that we are able to partner with such a strong local fund to boost our future growth,” said Niels Henrik Sodemann, CEO and co-founder of Queue-it.
Hampleton Partners advised Queue-it on the deal. The engagement was led by Jan Eiben (Director CEE) Ralph Hübner (Sector Principal Digital Commerce), and Henrik Jeberg (Director US), with Tim Stemkens (Senior Analyst) supporting the transaction at Hampleton.