Verdane partners with connectivity pioneer Onomondo to support new phase of growth

Pål Malmros, Partner, at Verdane commented: ''We are convinced that Onomondo's solution has the potential to vastly accelerate global roll-out of IoT, as well as expand the total set of addressable use cases. We look forward to partnering with the company to significantly accelerate the business' expansion and growth internationally, drawing on the Verdane team's experience from the other 45 software investments that we have made.''

Michael Karlsen, Co-Founder & CEO, and Henrik Aagaard, Co-Founder & CTO at Onomondocommented: "We see a clear shift now towards the market asking for more from their connectivity solution. This trend will dramatically heighten the success rate of IoT and lower both complexity and barriers to entry. All of this will eventually benefit both people, profit, and planet. Onomondo and our recent momentum is a clear representation of this shift and we have found Verdane to be the perfect partner to help us deliver fully on this vision and accelerate our growth."

Verdane has a strong record investing in tech-enabled businesses, including software, having been named the most active financial investor in Nordic software growth companies 2016-2020 in 2020 by PwC, and declared a Top 4 most active GP acquirer of Nordic-based companies by deal count 2015-2021 by Pitchbook in 2021. The firm currently holds over 30 software businesses in its portfolio, including companies like Nomentia, Eduhouse, Evondos, inriver, Danelec Marine, meister, Papirfly, Parkopedia, StudyTube and Voyado.

The investment in Onomondo brings Verdane's number of Denmark-based portfolio companies back to seven, following its recent realisation of Scanmarket to Unit4.