Copenhagen based start-up Sproom, a paper-free electronic invoicing platform, has been acquired by Visma, the leading business solution provider in Northern Europe, focusing on business optimization and management tools for the enterprise.
Since the launch in 2011, Sproom has become the leading electronic invoicing platform in Denmark and currently holds more than 20,000 customers and had a growth rate of 37% in 2015. By using Sproom’s cloud based services companies can automate and verify their invoicing process efficiently no matter which accounting system they use and hereby significantly save time but more importantly reduce or remove manual processes and thereby human errors.
The acquisition is part of Visma’s strategy of being the market leader within digital solutions. Going forward Sproom will continue as an independent solution and existing customers and partners can look forward to continual developments with Visma as new owners.
“Together with Visma we can accelerate our business development and boost the use of electronic invoicing in such a way that the solutions will be even more accessible, economically beneficial and continually add quality for thousands of companies, says Sproom CEO and co-founder Thomas Permin Berger.
Mads Rebsdorf, director of e-conomic & Visma Software SMB DK, says in the official Visma press release: “We see a great potential for Danish companies in digital business solutions like electronic invoicing. By acquiring Sproom Visma will offer even stronger solutions on this market, both as part of Visma’s products like for example the accounting program e-conomic and to Danish companies that are not currently using the Visma business solutions.”
Accelerating growth since 2011
Sproom joined Accelerace in the Spring of 2011 for six months of strategic consulting and later in 2011 received an investment of 3M DKKfrom Accelerace invest. Today Sproom has 12 employees and annual turnover of 10M DKK, and are expecting to maintain steep growth rates in the coming years.
Thomas Permin Berger CEO of Sproom says: “We have been really pleased with our participation in Accelerace and the strategic counseling which have proven to be crucial in both raising capital to make our visions come true and to meet the expectations of our shareholders.”
Jesper Knudsen, member of board of the directors at Sproom and partner at Accelerace says: “From the very beginning when they joined Accelerace we have looked upon Sproom as a startup with high-growth potential, lots of passion and an excellent team. We are very pleased to have been part of this journey and help build their position in the market and take the company to new highs. As investors we are pleased to see Sproom joining forces with Visma as this will provide new business opportunities for both parties and we are looking forward to follow the next steps of Sproom and Visma.”
The acquisition of Sproom is the 3rd exit in nine months for Accelerace Invest who only invests in high-potential startups companies which have been through extensive training in the Accelerace accelerator program. Recently GreenTrapOnline got acquired by Motalin and in September 2015 Iposen was acquired by Dansk Supermarked.
Read the official press release from Visma about the acquisition of Sproom here:
Visit the Accelerace Crunchbase page to see more about our investments.