Monterro acquires Danish AI platform designed for the automotive industry, supporting the company to accelerate its European expansion.

More than 70 percent of the Danish automotive industry use AG Analytics' AI platform to automate and tailor aftermarket customer interactions. Now, Monterro, the leading B2B software investor in the Nordics, is becoming majority owner as part of the acceleration of AG Analytics' European expansion. With its fourth investment in Denmark in two years, Monterro also announces increased activity and presence in Denmark.

Since 2011, AG Analytics, led by CEO and co-owner Nicholas Malcolm, has built a growing and profitable business with annual growth rates between 40-50 percent. The company already serves 70 percent of the Danish automotive industry with its AI powered software platform.

According to Nicholas Malcolm, AG Analytics’ growing business can be attributed to the company’s AI-based platform that automates and optimizes customer dialogues for car dealers and workshops in the important aftermarket sector. This solution serves as an assurance of personalized information regarding a car's history, service reminders, tire changes, repairs, etc., leading to increased loyalty and revenue.

”Car dealers and importers across Europe face the same challenge that our technology addresses here in the Nordics. Therefore, it has been crucial for us to find a partner with the experience, technical insight, and financial strength to propel our continued international expansion," explains Nicholas Malcolm, who will continue as CEO of AG Analytics.

"The foundation of our strong growth lies in addressing technological challenges within a relatively traditional industry that lacks the technology and skills to transform customer data for each car into personalized customer dialogues with the car owners. This typically results in the loss of 25-50 percent of potential revenue, which we have proven lies in retaining and developing the customer base in the aftermarket," he adds.

According to Nicholas Malcolm, there were 25 potential investors for AG Analytics. However, through the partnership with Monterro, AG Analytics gains not only access to significant financial resources but also to the technical, commercial, and strategic experience necessary to take AG Analytics to the next level – in terms of both product development and scaling the business internationally.

International scalable platform

Erik Syrén, Managing Director at Monterro and new Chairman of the Board at AG Analytics, does not hide the fact that, beyond the software platform itself, Monterro is also impressed by the team and the organic growth achieved by AG Analytics in recent years.

"It is an extremely healthy and highly specialized software company that we are investing in. Car dealers and workshops win a significant portion of their customers back when they connect AG Analytics' product to their existing ERP and Dealer Management systems. Therefore, Return on Investment is often seen already the first month. Mainly because the plug and play nature of the product requires no significant implementation investments," he says.

"We already have a large part of the leading brands and their car dealers connected to the platform here in Denmark and can connect our platform to virtually all systems used by the automotive industry throughout Europe," adds Nicholas Malcolm.

Erik Syrén emphasizes that Monterro significantly differs from traditional tech investors by always investing alongside existing owners and having a longer investment horizon than usual. At the same time, Monterro actively engage as an operational and strategic sparring partner. Thus, it has also been crucial that Nicholas Malcolm continues as CEO and has chosen to reinvest significantly in the new ownership with Monterro.

"AG Analytics is our fourth investment in Denmark, and we will focus significantly more on Denmark in the coming years,” says Erik Syrén. "Danish software companies are very interesting to an investor like Monterro because they often have a global mindset from the start—simply because the domestic market is not large enough. Additionally, for a long-term and active investor like us, it is exciting that many of the Danish companies are highly specialized within niches and verticals, such as AG Analytics," he adds.

For more information:

Nicholas Malcolm, co-owner and CEO of AG Analytics, mobile +45 30991421

Erik Syrén, Managing Director at Monterro, and new Chairman of the Board at AG Analytics, mobile +46707385072

About AG Analytics

AG Analytics was founded in 1997 and is headquartered in Copenhagen. Since 2011, the company has developed, marketed, and sold an AI-driven platform that provides the automotive industry with a plug'n'play solution to automate customer dialogues based on personal information about everything from service, inspection, repairs, tire changes, etc. AG Analytics has around 30 employees and generates a revenue of more than DKK 30 million. In recent years, the company has grown significantly, with annual organic growth rates of 50%. The company is now owned by the Nordic software investor Monterro, while founder Johnny Heinemann, Kristian Lautrup, and CEO Nicholas Malcolm are minority shareholders. https://aganalytics.dk/