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.

DineroD

Dinero – Sell side: Undisclosed amount

Tofte & Company – Dinero sold to Visma

We are proud and happy to announce that Dinero, the most intuitive accounting program in the World, has been acquired by Visma, which is recognized as the leading accounting software provider in the Nordics.

Dinero has from the offset been building their product for the customer, aiming at making life easier for the many entrepreneurs eager to spend time on developing their business rather than doing administrative tasks. The company was established in 2012 and has of today more than 110,000 registered users.

“It has been a big pleasure working with Tofte & Company. They have relentlessly been working on the process and delivered the deal we wanted. I am extremely impressed by their deal making skills,” says Martin Thorborg, CEO of Dinero.

“I am delighted to have had the opportunity to work with Dinero. They have build a world-class product and you immediately sense their uncompromising prioritization of the needs of their customers as they develop business and product. I am deeply impressed by the work of Martin and his team,” says Thomas Tofte, Managing Partner of Tofte & Company.

The acquisition is part of the strategy of Visma to deliver the best accounting and business solutions to all small and medium-sized businesses in Denmark. “Dinero has been through an impressive development and has made a fantastic accounting program that makes it extremely easy for smaller businesses to handle their bookkeeping,” says Mads Rebsdorf Director of Visma Software in Denmark.

About Dinero:

Dinero is an online accounting program enabling users without prior qualifications to do the bookkeeping themselves. Since formation in 2012 Dinero has been experiencing a very aggressive growth and high user satisfaction. The company was founded by serial entrepreneur Martin Thorborg and David Andersen.

Happy Helper

Happy Helper – Private Placement: Undisclosed amount

Tofte & Company – Happy Helper receives capital to fuel its expansion

We are proud to announce that the leading Danish online platform for on-demand home services Happy Helper has raised an undisclosed amount from an undisclosed investor.

“The whole process with Tofte & Co was very smooth and with good business karma. We were quickly presented for relevant investors and closed our round within 4 weeks of our first meeting! Sasja was an extremely competent negotiator and a really nice person too,” says Adam Sebastian Sheikh Hjorth, Co-founder and CFO at Happy Helper.

About Happy Helper:
Happy Helper is the leading Danish online platform for on-demand home services, connecting individuals looking for home cleaning services with top-quality, pre-screened independent cleaners – or as we call them “helpers”.

With a easy 60-second booking process, secure payment, and a 100% money-back guarantee, Happy Helper is the easiest, most convenient way to book a clean.

addifab

Addifab – Debt financing: Undisclosed amount

Addifab receives funding

AddiFab ApS – manufacturer of automated high-end 3D-printing systems – has closed an undisclosed round of debt financing. Proceeds from this round will be used to complete development and installation of the first Add-Line demonstrator at the company’s facilities with the involvement of beta customers, suppliers and collaboration partners.

Tofte & Company has provided diligent and valuable guidance in the process leading up to the financing. Introducing a new production paradigm requires very significant resources, and we are happy to tap into the knowledge and network of Tofte & Company as we continue to develop our business,” says Lasse Staal, CEO of AddiFab.

Airhelp landscape

AirHelp – Private Placement: 12 mUSD

Tofte & Company – Airhelp closes 12 mUSD series A financing.

We are proud and happy to announce that Airhelp, the world-leading Air Passenger Rights company, has raised 12 MUSD in its series A funding from Khosla Ventures, YC Continuation Fund, Naval Ravikant, Evan Williams, Jimmy Maymann, U-Start and Vilhelm Hahn-Petersen.

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

“The 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 series A 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 & Co 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 the funding.”

“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 world´s 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 900,000 passengers for a total of $85 million in flight disruption compensation for travelers worldwide. This makes AirHelp the world’s biggest company in its category.

AirHelp is live in 19 countries, offers support in 13 languages and employs 230 AirHelpers globally.

For more information visit www.airhelp.com

yes

L.A. Media – Sell side: Undisclosed amount

L.A. Media, the second to none premium luxury magazine publisher in Denmark, has been sold by Tofte & Company

“I have considered selling my business for a couple of years, but selling a small business is a complex venture that involves several considerations. Enlisting a broker, accountant and an attorney as you proceed with your daily operations can be quite a job. The business sale will also require much of your time and probably one of the main reasons why many founders never get to that point.  Tofte & Company helped me build a solid plan and made the negotiations a success. I am very pleased with the journey and will continue to work with them, but now as an investor,” says Christian Friis Johansen, Founder at L. A. Media.

L. A. Media is such an interesting and well managed company with a portfolio of profitable magazines. On top of the traditional magazine business L. A. Media has unlocked a considerable growth potential through launch of its digital strategy this year. We saw the strong potential in this combination and found the right buyer,” says Sasja Dalgaard, Partner at Tofte & Company.

12344

AllUnite – Private Placement: 1 mUSD

AllUnite raises 1 mUSD

Bringing the efficient tools of on-line marketing to the offline world the Adtech company AllUnite has raised 1 mUSD enabling it to bring the company to the next level. The mobile data driven platform for local shops is experiencing great traction and has signed up large retailers like Only, Levi’s and The Body Shop.

“It has been a pleasure working with Tofte & Company. Their experience within the fundraising area is second to none and we had great benefit of their advice throughout the process,” says Kasper Gevaldig, CEO of AllUnite.

“I am so excited to follow AllUnite on their continuous journey. This truly innovative company has a huge potential on the quest to change off-line marketing as we know it today,” says Thomas Tofte, Managing Partner of Tofte & Company.

About AllUnite:
AllUnite is a unique mobile first, data driven marketing platform which gives local shops capabilities such as retargeting, conversion tracking, performance based customer acquisition, passive customer profiling etc. which is normally only available to online shops.