Standout Capital divests Neptune Software

Stockholm, April 27, 2022

Nordic small-cap technology investor Standout Capital and the other shareholders in Neptune Software AS have signed binding agreements to sell their shares to a vehicle controlled by the investment firm Triton.

Founded in Norway in 2011, Neptune offers a low-code development platform to enterprise customers globally. The company has more than 660 customers and 3.5 million licensed users in 40 countries. Standout became a minority owner in Neptune in June 2018 by providing capital for growth and has been an active owner supporting the company on its rapid growth journey. Recurring software revenue has increased fivefold and Neptune’s organization has grown from 30 to 100 employees since the time of Standout’s investment. 

“Standout has played an important role in supporting us in the transition to a truly international company with a scalable business model” says Andreas Grydeland Sulejewski, co-founder and CEO of Neptune.

“We have been impressed by the Neptune team from day one” says Klas Hillström co-founder of Standout Capital. “Their technology and unique can-do attitude have enabled them to build an international presence and win outstanding customer contracts with relatively small resources.”

Standout is selling all its shares while the management team is reinvesting alongside Triton in the new structure. The divestment of Neptune is the third full exit by Standout in the last six months.