The capital will be used to further boost its investments in product development and marketing.
“We are very pleased to team up with Verdane and further strengthen our position in the growing US and European markets,” says CEO Joonas Lehtinen. He adds, “Vaadin is known for its tools that simplify the development of business grade web apps and with the new investment we are able to expand the tools to new and even larger markets”.
“We consider Vaadin to represent some of the strongest software expertise in the world. We think we can help this outstanding team in their ambitious growth plans, by building on Verdane’s software knowledge,” says Janne Holmia from Verdane Capital Advisors, adding, “The importance of software and user experience continue to grow and we believe Vaadin can help businesses advance in these areas”.
Vaadin’s business is building components and tools for dynamic and information rich web applications. Its product suite enables businesses to replace desktop applications with standard based web applications that run on all major mobile and desktop browsers. By embracing simplicity Vaadin’s technology speeds up the development process, increases security and allows developers to focus on building business value.
Verdane is a Nordic private equity manager focusing on investments in technology enabled growth companies. Verdane raised its latest fund, Verdane Capital IX, this summer with an investment of SEK 3 billion. Prior to its investment in Vaadin, Verdane private equity funds have invested in other prominent Finnish companies such as Codenomicon, CRF Health and Eniram.
Earlier investors in Vaadin include Aboa Venture Management, eEquity, and Finnish Industry Investment Ltd (Suomen Teollisuussijoitus). The company intends to continue growing at a rapid pace and adding to its one hundred and thirty-person strong team based in Finland, Germany, and California.
About Vaadin
Vaadin is the company behind the open-source Vaadin framework, which is used by 40% of Fortune 100 companies and by more than 150,000 developers worldwide. The company’s head count is 130 staff personnel located between Finland, Northern California, and Berlin. For further information on Vaadin tools, services, and career opportunities, please visit vaadin.com
About Verdane
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation.
Verdane funds hold over €6 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdane’s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
More info: www.verdane.com
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