Malmö and London—Hypergene, a Swedish software-as-a-service (SaaS) company for planning and performance management, today announced a growth investment from Thoma Bravo, a leading software investment firm. Under the terms of the investment, Thoma Bravo will acquire a majority stake in Hypergene from Monterro, the leading B2B software investor in the Nordics, and other minority shareholders. With the support of Thoma Bravo, Hypergene is expected to be able to focus even more on product development and its European growth strategy. Hypergene’s Chief Executive Officer, Urban Bucht, Chief Financial Officer, Jonas Persson and Founder and Chief Architect, Per Engwall, will remain as shareholders and will work closely with Thoma Bravo and the Executive Committee.
Hypergene is one of the leading players in Corporate Performance Management and Project & Portfolio Management (xP&A) in Northern Europe. The company develops and designs software which is used by the C-Suite and Office of Finance for strategic planning, budgeting and forecasting and project & portfolio management. Founded in 2000, Hypergene has successfully evolved into a multi-vertical software provider for companies seeking to drive change or boost efficiency and quality – delivering today its cloud-based planning and analysis solutions to approximately 500 customers in several markets. Hypergene is headquartered in Malmö, Sweden, and employs over 200 people across eight offices in Sweden, Norway and Germany.
Urban Bucht, CEO of Hypergene, said: “Hypergene has already achieved significant success and we see continued strong demand from European businesses and public sector customers for products which help them digitalise their organisations and execute successfully. With Thoma Bravo’s backing, we are well-positioned to continue expanding into Europe and delivering product innovation. On behalf of everyone at Hypergene, I would like to thank Monterro for their support of our business as we have grown into a leading player in Northern Europe.”
Thoma Bravo has a 20-plus year history of providing capital and support to high-growth software businesses and has acquired or invested in more than 450 software and technology companies globally. The firm is an active investor in Europe, having deployed more than €10 billion of equity across 11 transactions in Europe in the last 12 years. This is Thoma Bravo's third investment by its Europe-based team, following recent investments earlier this year in Logex and EQS and building on the opening of its London office last year led by Irina Hemmers. It is also the company’s second investment in the Nordics following the acquisition of Mercell in 2022.
David Tse, a Vice President at Thoma Bravo, said: “Hypergene delivers state of the art analysis and operational capability at a time where flexible planning is more important than ever. At Thoma Bravo we are an operationally focused, specialist investor and we are positioned to provide Hypergene with our resources and expertise to accelerate its growth.”
Irina Hemmers, a Partner at Thoma Bravo, added: “Our investment in Hypergene marks our third in Europe this year, reflecting our commitment to the market and fitting our strategy of backing strong local software leaders to support developing them into European champions.”
During Monterro’s holding period, Hypergene has transitioned into a product first software-as-a-service (SaaS) company, established a scalable go-to-market model and increased its annual recurring revenue (ARR) by >8x. Hypergene is now experiencing substantial profitable growth on a growing international market.
Thomas Bill Revland, Co-Founder of Monterro, said: “Hypergene has enjoyed a fantastic growth journey and it has been a pleasure to work with CEO Urban Bucht and the management team. Together, we have developed the company into a profitable, emerging European leader in its category. We are extremely proud of the outcome and look forward to seeing Hypergene’s continued
William Blair served as exclusive financial advisor to Hypergene and White & Case served as legal counsel. Hannes Snellman served as legal counsel to Thoma Bravo.
Hypergene is a SaaS company in the North European market for corporate performance management and project & portfolio management. The company helps streamline the customer's budget and forecasting processes, follow up their operations using advanced analysis and reporting functionality, and work with strategic management in a manner that breaks down overall plans into goals, KPIs and activities throughout the organisation. The customer can choose selected elements or opt for a comprehensive solution. Hypergene target medium and large organizations in both the private and public sectors. The typical purchaser of the product is a forward-looking CFO/finance director who wants to create better conditions for processes within corporate performance management and project & portfolio management. The users include the organization’s top management, managers and decision-makers, as well as controllers and other roles that contribute to the planning processes. Hypergene is headquartered in Malmö, Sweden, and employs over 200 people across eight offices in Sweden, Norway and Germany.
About Thoma Bravo
Thoma Bravo is one of the largest software investors in the world, with approximately US$134 billion in assets under management as of September 30, 2023. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo's deep sector expertise and strategic and operational capabilities, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20 years, the firm has acquired or invested in more than 455 companies representing over US$255 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, London, Miami, New York and San
Francisco. For more information, visit Thoma Bravo's website at thomabravo.com.
Monterro was founded in 2012 and is the leading B2B software investor in the Nordics. Its mission is to turn Nordic software companies into market leaders. With operational experience from successfully developing and running companies – such as Pointsec, Episerver, Orc Software, Lime, and Outpost24 – Monterro actively supports its portfolio companies in all aspects of growth. A substantial part (25%) of the fund’s capital comes from Monterro’s founders and employees. Monterro is headquartered in Stockholm with offices in Oslo, Munich, and Hanoi. monterro.com.