This category is for our successful transactions made by Tofte & Co.

CSI Protect

CSI Protect – Private Placement: Undisclosed amount

Tofte & Company – CSI Protect secures funding

We are proud to announce that CSI Protect has raised a significant round of financing from a group of investors led by Henrik Friborg.

From it’s US HQ in Los Angeles, CA. CSI Protect is building it’s North American business centred around Forensic DNA property marking, forensic coding and asset identification solutions which deter theft and aid recovery of stolen property.

The Company has been at the forefront of providing the Police and Insurance recommended property marking solutions since 2015. Since then, CSI Protect has helped homeowners, businesses, local authorities, hospitals and schools protect their property. With already established business relationships in 8 states and partnerships with several major Law Enforcement Agencies like LAPD, CSI Protect was seeking funding to ensure a rapid expansion throughout the entire US market. The past 3 years have shown outstanding results and all major US retailers and Law Enforcement Agencies have shown significant interest in protecting their local communities, employees and valuables using DNA technology.

We pride ourselves on top quality, accredited products, the best customer service and exceptional value. In fact, repeat business is growing as more and more satisfied customers return to us year after year. Key markets include B2B, Education, Government, Police and B2C. Our goal is to reduce a number of crimes including domestic and commercial burglary, robbery, metal theft, vehicle theft and theft of cycles.

“As a result of our rapid expansion in the US market additional funding was needed in order to keep momentum. Through a mutual international contact we were recommended to contact Sasja Dalgaard, Partner at Tofte & Company. Sasja came highly recommended, but being a US company seeking funding for a US expansion we were armed with a fair amount of skepticism and questions. I am happy to say that for the first phone call to the final Due Diligence we have received the most professional and result orientated advice and guidance from the entire Tofte & Company team, but Sasja has a special place in our CSI hearts. Sasja has continuously outperformed all out expectations and been a priceless partner during the entire process. The professional approach has allowed us to focus on our US operations while the funding process was on full speed. Being in the hands of a professional team allowed us to feel confident that we would achieve our common goal and find the right match for our business,” says Kristian Brandt, Co-Founder and & COO of CSI Protect.

“It has been a great pleasure to work alongside the founders Kristian Brandt and Henrik Olsen in this process and it is obvious that they possess the needed determination to conquer the US market. The product is unmatched and with the capital injection and an active investor team with deep industry knowledge they are on a path to succes. Lead investor – Henrik Friborg co-founded Milestone Systems (Sold to Canon Group in 2014) and that is a match that I am proud of since his past journey and experiences makes him the ideal investor for CSI Protect. I very much look forward to follow the company,” says Sasja Dalgaard, Partner at Tofte & Company.

Duka2

Duka – Sell side: Undisclosed amount

Tofte & Company – Executive Capital acquires minority stake in Duka

It is with great pleasure that we can announce that Executive Capital has acquired a minority stake in Duka, the leading Nordic platform for technology support solutions.

Duka, headquartered in Aarhus, Denmark, introduced its best in class support solution to the market in 2010 and has since experienced continuous growth. The company first launched with PC’s but has later expanded into tablets, iPads and mobiles. Duka has managed to create a solution where the end-user has all needs covered from a single point of contact thereby creating a superior user experience. The company has from the beginning had the mission to make technology products easy to use and their very low customer churn indicates a mission accomplished. Duka was listed amongst the 1,000 fastest growing IT companies in Europe on Financial Times list.

Duka is tapping into a growing 3.3 bnEUR European tech support market with an attractive business model based on subscriptions and already have a strong foothold in Denmark and Norway with more than 30,000 subscribers.

“We have throughout the process been impressed by the professionalism of Tofte & Company. They have impressed us both with the business understanding and deal making skills,” says Kim Krohn Gervin, CEO of Duka. “We have secured an attractive deal and Tofte & Company managed to find the perfect value adding partner in Executive Capital that has an extensive network and solid experience in developing technology businesses. Furthermore we felt the personal chemistry needed to engage on a joint journey.”

“Working with Tofte & Company has been a pleasure. They have impressive deal making skills and a professional approach,” says Klavs Vejlang (Chairman and partner at Executive Capital).

Duka is truly an innovative company build on a customer centric approach and strong values. They have managed to make the use of technology products easier thereby fueling the digitalization of the countries in which they operate. You sense the previous experience from both Kim and Rasmus (Thostrup Møller, COO of Duka) in terms of a professional driven organization relentlessly following a mission of best in class customer service. In Executive Capital they now have a partner with extensive experience and an impressive track record. I very much look forward to follow the journey of Duka,” says Thomas Tofte, Managing Partner of Tofte & Company.

About Duka:
Duka today employees more than 50 employees in Hinnerup outside Aarhus. The company was founded in 2010 to sell hardware to the senior segment without any IT knowledge and today has more than 30,000 subscribers with service and support for PC and mobile devices. Duka today offers 3 products (dukaPC, dukaPRO and dukaTALE).

About Executive Capital:
Executive Capital is an investment partnership formed by seasoned business executives that develops and professionalize Danish small and medium size companies through investing own fund and expertise. The partners of Executive Capital have typically been executives themselves and developed a smaller company to a larger international business and therefore has extensive experience with the challenges facing SMV’s.

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Optimeo – Debt financing: Undisclosed amount

Tofte & Company – Optimeo secures funding

“I am honoured to get to work with so many skilled entrepreneurs and happy to announce that we have assisted in securing a round of debt financing to fuel future growth for Optimeo“, says Sasja Dalgaard, Partner at Tofte & Company.

Tofte & Company facilitated the raise of capital for Optimeo in the Autumn of 2017. They were professional throughout the whole process, even if the clock was past five. We give our warmest recommendations to Tofte & Company,” says Kuno Ystrøm, Founder and Partner of Optimeo.

About Optimeo:
Optimeo provides strategic solutions in Online Marketing to small and medium-sized companies. They are Denmark’s fastest growing company within the industry, and have an ambition to expand into other countries within the next year.

AH_social_logo

AirHelp – Private Placement: Undisclosed amount

Tofte & Company – AirHelp closes Investment from Nordic Eye

We are proud and happy to announce that AirHelp, the world-leading Air Passenger Rights company, has raised an investment from the Danish venture fund Nordic Eye.

The financing will help AirHelp further accelerate its growth via investment in claims handling capabilities to harvest on the massive inbound customer intake the company is experiencing. The funding will also accelerate efforts in the various partner relations the company has entered into.

In a market estimated to be worth up to $25 billion annually, AirHelp has quickly become a dominant player because of its rapid scale, flight disruption tracking technology and its user-friendly mobile phone app and online web form, which makes it easier than ever to file for compensation. Passengers can simply login with Gmail, TripIt, Outlook or Yahoo and start the search for past eligible flights, or enter their disrupted flight details into the system – within seconds they will know if they qualify for compensation – and at the click of a button they can file a claim.

“We have been following AirHelp from the side line for long and remain excited about their results. We are happy that we got to invest into the company and can now participate actively in the further development of the success that has already been created,” says Managing Partner, Peter Warnøe who will be joining the board as observer.

“The long lasting collaboration with Tofte & Company has been very satisfactory and a position is now reached where AirHelp can further accelerate its development,” says Henrik Zillmer, CEO of AirHelp. “With the recent investment we not only managed to secure funds for further growth but also important knowledge and network for our further expansion.” “It has been a pleasure working with Tofte & Company who have continuously impressed me with their ability to understand our business as well as their persistent support and impressive deal making skills to secure further funding. We look forward to go to market with our series B round next year based on many interesting investor dialogs already held.”

“I am very impressed by the traction and positioning AirHelp has obtained within their space. Henrik has persistently been pursuing his goal of creating the worlds leading Air Passenger Rights company and has in his journey shown remarkable execution skills,” says Thomas Tofte. “ I have never experienced a company with such an aggressive continuous growth – even after having reached scale and I can not wait to follow the journey as AirHelp continues to grow fueled by an amazing management team and a tier one investor group behind them.”

About AirHelp:

AirHelp is a Y-Combinator backed startup that helps travellers assert their legal rights and file for the flight disruption compensation they are rightfully entitled to under EU law.

Since its founding in 2013, AirHelp has helped over 5 million passengers for several hundreds of millions USD in flight disruption compensation for travelers worldwide. This makes AirHelp the world’s biggest company in its category.

AirHelp is live in 30 countries, offers support in 15 languages and employs more than 500 AirHelpers globally.

Zigna

Zigna – Debt financing and Private Placement: Undisclosed amount

Tofte & Company – Zigna secures funding

We are proud to announce that we have raised debt financing from the Danish Growth Fund and a private placement from a US based business angel.

“Tofte & Company facilitated investment for Zigna in the Autumn of 2017. They were very helpful and professional throughout the whole process, and no questions were left unanswered. They helped every step of the way. We give our warmest recommendations to Tofte & Company. Thanks to their help Zigna is now on a path to success,” says Jesper Lundsgaard Hansen, Co-CEO of Zigna.

About Zigna:
Zigna provides real estate agents with a complete set of online marketing tools to manage every element of their sales process from list to close. As an oasis in a fragmented industry of single-function apps and tools, Zigna allows agents to spend less time on administrative tasks and more time helping clients find their dream homes.
Hejdoktor

Hejdoktor.dk – Private Placement: Undisclosed amount

Tofte & Company – Hejdoktor.dk secures funding
We are pleased to announce that we have raised an undisclosed round of financing from a group of Danish Business angels.

“We are extremely pleased with the process orchestrated and run by Tofte & Company“. With the persistent support from Tofte & Company we have secured funds for growth, but also established a valuable network and international contacts. We look forward to a long-lasting collaboration with Tofte & Company in the next years,” says Mikkel Geertsen, CEO of Hejdoktor.dk.

About Hejdoktor.dk:
Hejdoktor.dk is a Copenhagen based eHealth startup with a vision to lock horns with the current unprecedented global health challenges, by providing high quality online, convenient and cost-effective healthcare services – combined with the exponential power of computers.
Hejdoktor.dk is transforming traditional healthcare by making it more accessible and convenient. Hejdoktor.dk has empowered thousands of users, by giving them direct access to the healthcare professionals they need, through UX friendly and secure digital channels.
Hejdoktor.dk strives to make a positive impact in the world and believes that quality healthcare should be a universal human right.

SOUNDBOKS

SOUNDBOKS – Private Placement: 3 mUSD

Tofte & Company – Outdoor LOUD-speaker SOUNDBOKS secures $3 million in funding from a group of investors including Bang & Olufsen’s former chief executive Tue Mantoni

It is with pleasure that we can announce that SOUNDBOKS, the provider of the first designated outdoor LOUD-speaker has secured $3 million in funding from a group of investors including Bang & Olufsen’s former chief executive Tue Mantoni and the lead vocalist in the rock band Muse Matthew Bellamy.

About SOUNDBOKS:

SOUNDBOKS is a Copenhagen-based, Y Combinator backed, hardware start-up developing and selling the world’s loudest battery powered speaker. SOUNDBOKS was founded in 2015 by three young Danes who shared the same love and passion for music, amazing parties and festivals. Today, SOUNDBOKS is Scandinavia’s fastest growing hardware start-up delivering speakers to happy customers all over Europe & North America. In March 2016, SOUNDBOKS launched the most succesful Danish Kickstarter Campaign of all time!

Logpoint

LogPoint – Private Placement: 10 mUSD

Tofte & Company – Cybersecurity platform LogPoint secures $10 million in funding led by Evolution Equity Partners

It is with pleasure that we can announce that LogPoint, the next generation security information and event management (SIEM) and big data analytics platform, has secured $10 million in Series B funding from cybersecurity specialist Evolution Equity Partners.

LogPoint, headquartered in Copenhagen, Denmark, introduced its SIEM solution to the market in 2008 and has since experienced continuous growth. In 2012 Series A funding was provided by Danish ICT specialist investor DICO, who will remain as an investor. LogPoint is the only European SIEM vendor and it achieved an EAL 3+ certification in 2015 in partnership with Boeing Defense, Space & Security. This certification facilitates partnerships with NATO, intelligence agencies, military and police entities and critical infrastructure in general. The Company today serves more than 300 customers globally with a significant customer base in Europe, whether it be government authorities, organizations and private enterprises. The clients are served through a network of infrastructure and security specialists partners such as CGI, Securelink, NNIT, KMD and Cygate. The Company has grown from 30 to 100+ employees with offices in Germany, United Kingdom, France and Sweden in addition to HQ in Denmark.

The large cybersecurity market is in high growth and according to Gartner Research “worldwide spending on information security is expected to reach $90 billion in 2017, an increase of 7.6 per cent over 2016, and to top $113 billion by 2020.”

The recent funding will enable LogPoint to enter the next phase of growth; fueling expansion in new markets and providing for continuous enhancement of the LogPoint Enterprise SIEM platform.

“We are very content with the process run by Tofte & Company,” says Jesper Zerlang, CEO of LogPoint. “We have secured the capital needed to take LogPoint to the next level and Tofte & Company managed to find the perfect value adding partner in Evolution Equity Partners as they have an extensive network and solid experience and deep sector knowledge within our sector. The process was run very professionally and the deal execution skills got us the right deal.”

“Jesper and Søren (Laustrup – founder of LogPoint) have built an amazing company with a huge potential. Their product is truly innovative and in a sector where newcomers have difficulties entering, they have taken a strong market position because of a unique product offering. I very much look forward to follow the journey of LogPoint following the receipt of necessary growth capital and high expertise from Evolution Equity Partners,” says Thomas Tofte, Managing Partner of Tofte & Company.

About LogPoint:
LogPoint is a cybersecurity pioneer founded in Denmark, having introduced its SIEM product to the market in 2008. Today, over 300 clients experience the LogPoint difference. LogPoint is the most flexible platform available for collecting, analyzing, and monitoring all data – whether generated by applications, databases, or infrastructure, or by sensitive assets, manufacturing systems, or security systems. The big data scale-as-you-grow architecture allows for quick and easy analysis and visualization with only a few resources – no matter how vast the IT landscape, no matter how dense the data. Sales and support offices are located throughout Europe with partnerships across the globe.

About Evolution Equity Partners:
Evolution Equity Partners, based in New York City and Zurich, Switzerland, invests in fast growing technology companies in the United States, Europe and Israel helping exceptional entrepreneurs develop market leading companies. The firm has a focus on cybersecurity and enterprise software and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world. Current and past cybersecurity portfolio companies include: AVG Technologies (AVG: NYSE), Cognitive Security (CSCO: NASDAQ), OpenDNS (CSCO: NASDAQ), Carbon Black, Onapsis, Security Scorecard, DFLabs, Fortscale among others.

Biva

Biva – Private Placement: Undisclosed amount

Tofte & Company – Biva receives capital to pursue omnichannel growth strategy

We are proud to announce that the Danish online furniture company Biva has raised an undisclosed amount from a team of highly competent investors. Amongst these are Jimmy Maymann (former CEO of Huffington Post and well known serial investor), who becomes chairman of Biva’s board, ecommerce expert Christian Kusk (founder of Stylepit), who will also enter the board and Christian Høyer (CEO at Wunderwear). The new board and the management of Biva will work hard to achieve the Company’s goal: to become the leading online furniture store.

“I am impressed with how far CEO Jesper Jørgensen and Sales and Marketing Director Rune Furbo has taken the new Biva version 2.0 already, and there is no doubt that the combination of these new investors and the Company’s potential is spot on. One thing is to find the right funding for a company, another is to connect the company with the right competences and experiences to make the company grow even further. I am sure that Biva will profit from these experienced profiles, when it comes to creating Denmark’s leading online furniture store,” says Sasja Dalgaard, Partner at Tofte & Company.

“The entire process of working with Tofte & Company has been of great value. Especially their financial advisory and the process of preparations has helped us not only to find investors, but to find the right investors. It has been impressing to experience a process where we end up being able to choose between a field of competent investors. Now we can make our vision a reality creating Denmark’s leading online furniture store,” says Jesper Jørgensen, Managing Director at Biva.

Jesper Jørgensen founded the new version of Biva together with Sales & Marketing Director Rune Furbo in 2014. They call it Biva 2.0 which – opposed to the old Biva – is an online furniture store with flagship stores in Aalborg, Fredericia and Copenhagen.

“Biva has in recent years undergone a transformation from an old school retail business to stepping into the online scene. Jesper and Rune has already taken the first steps, but as I see it, it’s just the beginning. There is a huge potential for a focused omnichannel strategy to make the company scalable. Therefore I am now supporting BIVA not only by investing money but also part of my time,” says Jimmy Maymann, former CEO of Huffington Post, serial entrepreneur and investor.

And when it comes to creating a successful online business Biva holds another strong card in hand. Christian Kusk, who in 2000 founded Stylepit – one of the leading online stores – has also invested in Biva and will become part of the board.

“I look forward to contributing with my experience and know-how on what mechanisms that drive online sales. With more than fifteen years of experience in online sales, I see tremendous potential for Biva, which in many ways follows the current trend that sales move from the physical stores to online,” says Christian Kusk.

And just the fact that revenue moves from the shops and on to the internet, is what has driven the vision of ‘the new Biva’ where you shop furniture while sitting at home on the couch, so to say.

About Biva:
In 2014 Rune Furbo and Jesper Jørgensen founded the new Biva, while transforming the company from being actual stores into an online webshop with three flagship stores. The ambitions for the future Biva is high, the goal is to become the leading online furniture store with a focused omnichannel strategy.

Ageras

Ageras – Private Placement: Undisclosed amount

Tofte & Company – Investcorp to acquire majority stake in
European online marketplace Ageras

We are proud and happy to announce that Ageras, the European leader within matchmaking services to the accounting and legal industry, has received funding from Investcorp Technology Partners.

Investcorp Technology Partners, which focuses on tech-enabled investments in the European lower middle-market as part of the Investcorp Group (“Investcorp”), today announces that it has reached an agreement to acquire a majority stake in Ageras A/S (“Ageras” or the “Company”), a fast growing online marketplace matching Small and Medium-sized Enterprises (“SMEs”) and micro-businesses with professional services providers such as accountants and lawyers.

Despite receiving no external investment until now, Ageras grew its revenues by approximately 60% over the last financial year and, in 2016, connected ~16,600 customers successfully. Ageras operates in five markets, Denmark, Sweden, Norway, Holland and Germany from its Copenhagen headquarters. The Company has delivered consistent growth by reinvesting cash generated back into the business.

The investment by Investcorp is expected to underpin Ageras’ high standards of service delivered to its customers and partners, and will help to drive continued growth in the Scandinavian market, as well as the Company’s broader international footprint. It will also allow for expansion into new geographies, leveraging Ageras’ strong brand, reputation for dependability and their insights into the professional service market.

In a market estimated to be worth up to 22 billion euros annually, Ageras has risen to the top so quickly because of relentless focus on customer satisfaction on both client and professional service providers’ side. By using technology and a deep understanding of its market Ageras has created a superior platform expanding rapidly.

“It has been a pleasure collaborating with Tofte & Company,” says Rico Andersen, CEO of Ageras. “We looked at different advisors within the segment but thought that the strong technology expertise and sector specific extensive deal making skills would give us the best process. Our platform is all about the match and we were after the right match for us in terms of an investor that understood our business at a level where they could provide extensive value-add as well as financial power to provide continuous support during our growth path. We clearly found that match in Investcorp and I am excited about the journey lying ahead.”

“I was at the outset very impressed with the Company that Rico and Martin (co-founder) has build on a bootstrap basis but during the process I got even more impressed by the skill set of this young management team. I very rarely see a company being driven so professionally and KPI-based and I cannot wait to follow the journey as Ageras continues to grow fueled by an amazing management team and a tier-one investor group behind them. Investcorp proved a deep understanding of the business from the beginning and their extensive experience in working with fast-growing, founder-owned businesses in the technology space as well as their very analytic approach will make them a valuable partner to Ageras,” says Thomas Tofte, Managing Partner of Tofte & Company.

“Ageras’ unique combination of customized service and high automation positions it perfectly to address the market for connecting SMEs with accountants and lawyers. Its best-in-class levels of customer satisfaction coupled with recurring sales into its partner base have allowed it to secure a leading market position in Europe. These fundamental business strengths, coupled with an outstanding management team, make it an ideal candidate for Investcorp to partner with,” says Gilbert Kamieniecky, Managing Director of Investcorp’s technology investments in Europe. “It has also been a pleasure working with Tofte & Company that impressed us with the sector knowledge and substantive deal making skills creating a good deal for everyone involved.”

About Ageras:
Ageras is a Copenhagen-based technology company with a vision to create transparency in the accounting and legal industry. As an online marketplace, Ageras facilitates the right solution for a growing user base of 100,000 SME’s and individuals. Ageras has already expanded to 5 European markets and a 60% revenue growth last year without previous external equity funding.

About Investcorp:
Investcorp is a leading global provider and manager of alternative investments, offering such investments to its high-net-worth private and institutional clients on a global basis. Led by a new vision, Investcorp has embarked on an ambitious growth strategy to double assets under management (“AUM”) in the medium term. The Firm continues to focus on generating investor and shareholder value through a disciplined investment approach in three lines of business: corporate investment, real estate and alternative investment solutions (formerly known as hedge funds), together with the recently added credit management business.

As at December 31, 2016, the Investcorp Group had $10.4 billion in total AUM, including assets managed by third party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM.

Since its inception in 1982, the Investcorp Group has made over 170 corporate investments in the U.S., Europe and the Middle East and North Africa region, including Turkey, across a range of sectors including retail and consumer products, technology, business services and industrials, and more than 400 commercial and residential real estate investments in the US, for in excess of $53 billion in transaction value.

The Investcorp Group employs approximately 390 people across its offices in Bahrain, New York, London, Abu Dhabi, Riyadh, Doha, and Singapore. It is publicly traded on the Bahrain Stock Exchange.