CapMan Growth press release
18 September 2024 at 09:00 a.m. EEST
CapMan Growth invests in rapidly growing SaaS company Groweo
The CapMan Growth Equity III fund makes its third platform investment in Groweo. Groweo’s mission is to enable effective digital sales and lead conversion with effortless implementation, especially to entrepreneurs and small businesses. Typical customer benefits of Groweo’s service include increased performance in sales, marketing, recruitment and customer service. Having started its operations only in 2022, the company has already established an excellent product-market fit and is now looking to further expedite its growth and expand internationally.
Through its unique service concept, Groweo has essentially created a new market segment, offering entrepreneurs and small businesses access to tools that were previously available only to larger companies with dedicated marketing resources. With their cloud-based software, Groweo turns customers’ current websites into growth platforms, significantly improving websites’ traffic conversion into valuable, automatically segmented sales leads.
Groweo was founded by a group of experienced entrepreneurs and started its operations in early 2022. The company quickly found a winning formula and has been growing rapidly ever since: without raising any external financing, the company is already serving approximately 1000 customers and operating cash-flow positively.
“We are truly impressed with the pace at which Groweo has been built in such a short time. Their innovative solution has been packaged in a way that solves a clear market need, and they have also built a very well-functioning commercial model to enable rapid scaling of the business. We see excellent growth potential in Groweo and look forward to working together with the team to take the company to international arenas,” says CapMan Growth’s Partner Tomi Alén.
“We are excited to partner with CapMan Growth on our growth journey. The support from CapMan Growth enables us to accelerate our technology and AI development and scale rapidly into new markets. Together with the CapMan team, we are focused on helping entrepreneurs and small businesses internationally by providing them with the industry’s highest-performing cloud service to enhance their websites’ performance”, shares Janne Mäenpää, founder and CEO at Groweo.
CapMan Growth is the leading Finnish growth investor making significant investments in entrepreneur-led growth companies with revenues typically ranging between €10–200 million. We typically offer entrepreneurs an alternative to selling the majority of their business by facilitating a partial exit while also supporting growth and internationalisation. We have been part of building companies such as Coronaria, Cloud2, Digital Workforce, Fennoa, Fluido, Neural DSP, Picosun, Sofigate, Silmäasema and Unikie.
For more information, please contact:
Tomi Alén, Partner, CapMan Growth, +358 50 412 1947
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.8 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com
