Axcel has acquired a controlling stake in Norwegian SaaS CRM provider SuperOffice.
SuperOffice is Axcel VI’s first investment, and the firm will control the majority of SuperOffice’s shares. The company is being acquired from the founder’s family, Visma, and key employees. The current management team will reinvest in the business alongside Axcel.
“As a business majority-owned by the founding family, SuperOffice has maintained its unique down-to-earth culture and has enjoyed continued success for over 30 years,” said Gisle Jentoft, CEO of SuperOffice.
“By always having the customer at the heart of the development process, SuperOffice has successfully transitioned to a cloud-based SaaS model, creating significant opportunities for further growth. With Axcel’s strong track-record and experience in developing companies within the technology space, we’re excited to partner with Axcel in order to accelerate SuperOffice’s growth trajectory,” added Jentoft.
SuperOffice provides modular end-to-end CRM solutions helping SMEs manage their customer interactions by organising, automating and synchronising data from sales, marketing and customer service. Founded in Norway, SuperOffice has expanded into international markets.
The CRM product suite is customisable to fit customers’ needs and can be expanded further through both applications in SuperOffice’s App Store and customer-created modules using APIs.
“Gisle and his team have done a great job in transitioning SuperOffice to a cloud-based SaaS provider and is therefore in a strong position to accelerate growth going forward,” commented Christian Bamberger Bro, Axcel Partner.
Bamberger Bro continued: “SuperOffice’s high-quality customer base and its attractive subscription-based business model with stable recurring revenues and high cash conversion have proven resilient during past business cycles. For this reason, we at Axcel consider SuperOffice to be a robust and attractive investment opportunity, and I’m delighted to announce that this is not only our first investment in our new fund, Axcel VI, but also our first platform investment in Norway.”
