Monterro welcomes minority investors in Umbraco to further strengthen Umbraco’s global growth.

Monterro, the leading B2B software investor in the Nordics, today announced that it has strengthened the ownership of Umbraco, a high-growth global Content Management System (CMS) leader, by divesting a minority stake to Bonnier Capital, Alcur Fonder, and Grenspecialisten. Monterro remains the majority owner and continues its strong commitment to supporting Umbraco’s long-term expansion.

Founded in 2003, and headquartered in Denmark, Umbraco has become one of the world’s most trusted and flexible CMS platforms. Umbraco powers some of the largest brands worldwide. The company’s success lies in the open-source model, a highly engaged community of more than 250,000 developers, and a well-established global partner ecosystem.

Umbraco has consistently achieved annual recurring revenue growth exceeding 30 percent, significantly outpacing its addressable market. With scalability, strong global traction, and a majority of its business coming from international markets, the company stands out as a leading Nordic software success story.

Furthermore, the rise of AI in the CMS space gives Umbraco a unique chance to cement its role as a 3rd generation CMS, combining multichannel orchestration with intelligent automation to meet evolving customer needs.

“Umbraco’s remarkable growth has been driven by its unique combination of an open-source foundation, a strong commercial engine, and a thriving developer community,” says Martin Henricson, Chairman of the Board of Umbraco. “Our mission is to make Umbraco the most user-friendly and flexible CMS on the market, and with our continued support alongside new respected investors, Umbraco is better equipped than ever to scale further and deliver even more value to its customers, partners, and community worldwide.”

“We are very excited to join Umbraco on its growth journey,” says Carl Backman, CEO of Bonnier Capital. “Umbraco has built an exceptional product and community, and we see significant opportunities to support the company in strengthening its international position.”

The transaction underscores Monterro’s mission of turning Nordic software companies into market leaders.

SEB Corporate Finance acted as financial advisor to Monterro and Schjødt as its legal advisor.

About Umbraco

Umbraco is a leading open-source content management system (CMS) founded in 2003. Headquartered in Odense, Denmark, Umbraco has approximately 140 employees and an annual recurring revenue (ARR) of +20 MEUR. Umbraco powers some of the largest brands worldwide. The company combines a flexible CMS platform with a strong partner ecosystem and an engaged global open-source community of 250,000+ developers. Learn more at Umbraco.com.

About Bonnier Capital

Bonnier Capital is the investment arm of the Bonnier Group, with a focus on growth companies. Together with strong and talented entrepreneurs and partners, the goal is to be a long-term owner. Bonnier Capital was founded in 2016 and has since become a reliant investment partner to companies of various sizes. Learn more at: bonniercapital.se.

About Grenspecialisten

Grenspecialisten is an investment company privately owned by Martin Gren, co-founder of Axis Communications. Grenspecialisten makes long-term minority stake investments, primarily in technology, software, and life science companies in the Nordic region.

About Alcur Fonder

ALCUR Fonder is an independent AIF manager founded in 2006, 70% owned by its employees. The company currently manages three funds with market-leading returns that have received multiple awards. The funds’ performance is built on long-term orientation and a clear strategy of high-quality equity management, with a focus on the Nordic stock markets. In total, the company manages approximately SEK 15 billion.