We are excited to announce that Viking Venture has become the largest shareholder in Danish Penneo AS with 9% of the company’s shares. Penneo is a business-to-business (B2B) SaaS company delivering solutions in the rapidly growing market for digital signing, document workflow, and compliance solutions.
Penneo is well-positioned within digital signing, document workflow, and compliance solutions. – We believe in this space and view Penneo as a very attractive investment with strong growth prospects, says Jostein Vik, Partner at Viking Venture.
Viking Venture intends to be a long-term investor and wishes to support Penneo in implementing the company’s growth strategy.
Viking Venture is the leading Nordic B2B software investor with close to 40 investments and a current portfolio of 19 companies. Penneo is the fourth listed Nordic B2B software company where Viking Venture becomes the largest investor.
– As part of the new investment, we would like to provide Penneo the opportunity to access to our substantial knowledge base as well as the Viking Venture community where peers meet to share valuable knowledge. In this way, we can support Penneo with our B2B software expertise and include the company in our strong best practice sharing community, concludes Jostein Vik
Viking Venture, the leading Nordic business-to-business software investor, invests in fast-growing scale-up companies in the Nordics. The investment focus is companies with software supporting critical work processes and having a large international potential. Viking Venture has over NOK 4 billion under management and is headquartered in Trondheim, Norway. Further information is available at www.vikingventure.com.
Header image: Erik Fjellvær Hagen, Managing Partner at Viking Venture and Jostein Vik, Partner at Viking Venture
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