Press release -
Norwegian SaaS company Moment acquired by Monterro and expands abroad
Nordic leading B2B software growth investor Monterro has acquired a majority stake in Norwegian software company Moment.
Moment offers a tool for project management, time management, time log, resource planning, quality assurance, and invoicing. It has enjoyed a yearly growth of 50 percent for five consecutive years, and is expected to continue this trend going forward. Despite interest from many other investment firms, Moment chose Monterro as its senior shareholder, but Moment's founders and key staff will remain owners.
“We search for Nordic B2B software companies with potential to become global leaders in their niche, and we’re happy to have found Moment,” says Erik Syrén, partner at Monterro and future Chairman of the board of Moment. “We have a strong belief in the product and the people, and we look forward to working closely to develop the company.”
“Monterro stood out from the rest of the investors”, says Eivind Bøhn, CEO of Moment. “They don’t just offer their capital, but also their expertise. Monterro has extensive knowledge of the software industry—and adds valuable competence. We feel confident in our choice and that our partnership will push us forward and support our growth.”
Monterro supports with business development and scaling
Monterro intends to do more than simply invest capital in Moment. It remains an active owner, partnering with its portfolio companies to support them with expertise and resources.
“We always work closely with the management and the owners of the companies we invest in,” says Roald G Hunvik, country manager Monterro Norway, “Moment has a good product, very satisfied customers, and an ambitious management team with great potential to expand internationally.”
Growth and expansion in the Nordics - and internationally
Moment is well established, with loyal customers in the domestic market and in Iceland as well as in 15 other countries. Its clients include architecture firms, engineers and creative agencies, IT and consultancy businesses, and accounting firms.
And the company plans to expand and grow outside Norway.
“Until now, Moment’s good reputation has given us a solid growth in Norway. Our ambition is to be the Nordic leader within a couple of years. We will grow organically or through add-on acquisitions. We’re now establishing a sales organization in Stockholm, and will build an extensive customer base in the Nordics. We’re already seeing the benefits of partnering with Monterro,” says Eivind Bøhn.
Moment is technology-driven and customer focused
Since its founding ten years ago, Moment has focused on building a solution to its customers’ problems. Moment streamlines customers' operations by adding time and focus to core business and delivery items.
Eivind Bøhn continues: “By working closely with our customers, we’ve developed a product that simplifies our customers’ jobs. Our technology integrates with more than 50 systems, allowing users to move seamlessly between them. I’m proud of the good partnership and close co-operation we have with our customers—all of whom appreciate Moment.”
For more information, please contact:
Erik Syrén, partner at Monterro, future Chairman of the board of Moment, mobile: +46 70 738 50 72, mail: firstname.lastname@example.org
Eivind Bøhn, CEO Moment, mobile: +47 958 84 825, mail : email@example.com
Moment develops and offers a market leading software solution that enables users to get control of their projects and resources. Project management, time management, quality assurance, resource planning and invoicing exist in one, easy-to-use system. We let the data flow between the systems of choice and eliminate manual routines. Moment can be integrated with more than 50 systems, and the company works closely together with its customers to get an understanding of their needs and to improve the functionality. Moment’s vision is to be the preferred project management system in the world. Moment.team.
Monterro is the leading B2B software investor in the Nordics, with a mission to turn Nordic software companies into market leaders and global players within their niches. Our team has successfully developed and led companies such as Pointsec, Episerver, Orc Software, Palette, and Lime – and we bring this operational experience to the Monterro portfolio, supporting the companies in all aspects of growth. We also bring significant financial commitment to our partnerships, with 30% of capital coming from our partners and employees.