Progrits is a Swedish-based leading vertical software company consisting of ten businesses that develop and deliver mission-critical software and information services within transport and logistics, vehicle digital solutions and integrated e-commerce. The B2B software company simplifies and automates customer information handling and workflows for approximately 5,000 Nordic and international customers. The group is headquartered in Gothenburg and employs around 200 people, half of whom are software engineers.
“Progrits is a great fit with Axcel, allowing us to build on our successes and competences within the tech space,” says Björn Larsson, Partner at Axcel. “Progrits is a leader in select niches with strong local positions and customer relationships. The company has mission-critical software, a scalable platform for further growth and a strong management team who we’re really looking forward to partnering with.”
Ambitious growth agenda
Under Axcel’s ownership, Progrits will pursue an ambitious growth agenda. Progrits’ business units will continue to operate under strong local leadership and benefit significantly from being part of a group that is greater than the sum of its parts.
“We’re excited to partner with Axcel, which has a proven track record of accelerating growth in companies like ours and deep expertise within the tech sector,” says Björn Ekström, CEO of Progrits. “We’ll continue to expand the company, both in Sweden and internationally, and build a strong group together.”
Strong Nordic tech presence
With the investment in Progrits, Axcel is further strengthening its Nordic tech presence. Axcel is also a current majority investor in Loopia, SuperOffice, itm8, BullWall, Init, NTI, emagine and Phase One. Previously, Axcel has successfully exited investments in EG, Conscia, SteelSeries and other companies.
Progrits is the second investment of Axcel Fund VII. Progrits’ management team will remain in place under the new ownership and will be reinvesting alongside Axcel.