– Reinvests parts of the proceeds for further growth

Viking Venture, the Nordic B2B software specialist, is happy to announce its divestiture of chemical management software provider EcoOnline AS to Summa Equity. After developing the company into a rapidly growing undisputed market leader in the Nordics, Viking Venture exits at 10 times the investment in 2.5 years. Viking Venture reinvests parts of the proceeds in EcoOnline to facilitate further growth in the Nordics and to establish a leading position in Europe.

Fast growing Nordic market leader in chemical management software
EcoOnline’s chemical management software ensures compliance with European legislation across the safety data sheet chain, from producers to end-users, offering strong benefits for customers in both ends of the spectrum. EcoOnline’s software solution also provides companies with chemical risk assessments and documents to conduct preventative measures.

EcoOnline is a state of the art SaaS provider with high recurring revenues from a large and diverse customer base comprising more than 4,000 customers in all relevant industries and public sectors in Norway, Sweden, Finland and Denmark.

EcoOnline has over 80 employees and is headquartered in Tønsberg, Norway, with offices in Sweden, Denmark and Finland. The company is in an expansive growth phase and saw revenues grow 30% to NOK 88m in 2016.

Successful exit and reinvestment to build European leader
Viking Venture invested in EcoOnline late 2014. Through improvements in the business model, heavy investments in sales and marketing and add on acquisitions EcoOnline has become a fast growing undisputed marked leader in the Nordics with more than 50% market share.

EcoOnline is sold to Summa Equities, a leading Nordic private equity firm, in an all cash transaction valuing EcoOnline at NOK 355 million. Viking Venture owned 64% of EcoOnline prior to the transaction.

– The sale of EcoOnline is a highly successful exit, yielding 10 times return on our investment in only 2.5 years, says Erik Hagen, managing partner of Viking Venture and the former chairman of the board of EcoOnline.

– With Summa Equity as a strong partner we will continue the rapid growth in our existing markets and are ready to expand into Europe, says Jostein Vik, partner of Viking Venture and former board member of EcoOnline. – We want to take part in the continued value creation and are reinvesting a substantial sum together with management”.

Summa will own 69% of the shares after the transaction while Viking Venture retains 23%. The remaining 8% is owned by management and employees.

For more information, please contact:
Erik Hagen, Managing Partner, Viking Venture, +47 920 22 430,

About Viking Venture
Viking Venture is a leading Nordic venture fund focused on B2B software companies with a recurring revenue business model. Viking Venture has invested in more than 40 companies and has more than 1.7 billion NOK under management. The company is located in Trondheim, Norway and London. More information on

About Summa Equity
Summa Equity was formed in 2016 by partners with a shared vision of building a leading specialised private equity firm in the Nordic lower mid-market, positioned to capture the investment opportunity provided by the thematic megatrends expected to drive growth over the long term. The firm focuses on sectors related to four megatrend-driven themes: resource scarcity, energy efficiency, changing demographics and tech-enabled businesses. Summa Equity closed its first fund in February 2017 with commitments of SEK 4.5 billion.