The aim is to develop ProMark from a leading player in the Nordics to a European challenger.
COPENHAGEN, 28 JUNE 2024 – Fortino Capital, a European-based growth investor in B2B software, is acquiring and investing in ProMark, a leading Danish provider of cloud-based workforce management software. The aim is to develop ProMark from a leading player in the Nordics to a European challenger.
ProMark supports companies with time & attendance registration, absence and task management as well as workforce scheduling through a cloud-based workforce management software solution. The company currently serves over 400 customers in more than 20 countries. More than 300,000 employees use the company’s software-as-a-service solution on a daily basis.
With Fortino Capital on board, the ambition is to go from being a Nordic market leader to becoming a leading European provider of cloud-based workforce management software. The focus will be on medium and large customers in the manufacturing and service industries.
Fortino Capital is an experienced European growth investor, making them the perfect match to ensure our continued success. Over the past few years, we have delivered steady growth and gained a position as the market leader in workforce management software in the Nordics. With Fortino Capital as a catalyst, we will accelerate our international expansion and become a European challenger. Fortino Capital has many successful B2B software companies in their portfolio. Thus, they also have the necessary knowledge and competencies to support and expand our continued growth journey through investments in our solutions, organisation and new markets.
Torkel Olrik, CEO of ProMark
ProMark’s ability to help customers in highly complex workforce markets is one of the key ingredients for their success. The uptake in workforce management solutions in manufacturing is expected to be significantly higher than in other frontline and remaining industries. With its uniquely specialized product offering in the mid-sized to enterprise segment, ProMark is well positioned to establish and maintain a market leadership position in Europe. We are excited about this investment and eager to support management on this promising growth journey.
Philipp Remy, Partner at Fortino Capital
Nordic roots with a clear vision
ProMark was founded in 1981 with the vision of supporting medium and large companies to increase their productivity and profitability. This was to be done by ensuring accurate real-time data and customer compliance with labour market rules, while improving employee engagement. In recent years, this has been achieved through a leading all-in-one workforce management platform where customers can track employee working hours, manage absence, schedule and manage tasks.
With 40 years of in-depth experience with the Nordic labour market, which is subject to some of the most complex working time regulations in the world, ProMark has a unique position and technical know-how to support organisations across Europe – regardless of the level of complexity.
Torkel Olrik, CEO of ProMark
About Fortino Capital
Fortino Capital is a European investment company focused on fast-growing B2B software solutions. They manage two private equity growth funds and two venture capital funds. With offices in Belgium, the Netherlands and Germany, Fortino Capital supports exceptional and ambitious entrepreneurs across Europe. Fortino Capital’s private equity growth portfolio includes Simcon (GE), Addactis (BE), VanRoey (BE), BizzMine (BE), MobileXpense (BE), Efficy CRM (BE), Cerrix (NL), Tenzinger (NL), SpeakUp (NL), Cenosco (NL), Maxxton (NL) and Bonitasoft (FR). Fortino Capital’s venture capital portfolio includes Vertuoza (BE), TechWolf (BE), Zaion (FR), Salonkee (LUX), Sides (DE), D2X (NL), Altura (NL), Billy Grace (NL), Peers (DE) and Kosli (NO). More information at www.fortinocapital.com.
About ProMark
ProMark is a leading provider of cloud-based workforce management solutions. With advanced functionality for time tracking, absence management, scheduling and task management, our all-in-one solution helps some of the largest Nordic brands maximise employee engagement, productivity and profitability. ProMark has more than 85 employees and is headquartered in Denmark with subsidiaries in Sweden, Norway, UK and Romania. Read more at www.promark365.com.
Contact
Torkel Olrik
CEO, ProMark
tol@promark365.com
+45 23 24 26 60
Evelyne Nieuwland
Press Officer Fortino Capital
press@fortinocapital.com
+32 478 82 85 63
