Nordic Venture Partners will invest over € 5 million in SANAKO shares.
The new capital will allow SANAKO to enhance its presence in key markets including the BRIC countries (Brazil, Russia, India and China) and the Middle East. It will also strengthen the company’s educational offering to its worldwide customer base by collaborating with value network partners.
SANAKO is the world leader in live language learning technology with more than 10,000 customers and 19,000 installations worldwide. The company has a vision to grow to a net generation-driven educational software company by extending its educational offering, global reach and value network partnerships.
“Educational market drivers in each of the global regions where we have presence are showing strong growth opportunities for a specialized educational software company like SANAKO,” said SANAKO President and CEO Jari Mielonen. “We have had good success in the present business, but we have set our ambitions high in order to strengthen our strategic position by providing a universal educational offering in each focus market. The addition of capital supports the execution of our growth strategy,” he explained
Jukka Rauhala, General Partner of Nordic Venture Partners said he is excited about SANAKO’s potential for growth. “Sanako has a solid base for expansion in markets with high growth potential. It has experience and a good commercial track record in building a global business based on long term local partnerships and leading language learning solutions .The future business opportunities in expanding beyond the language learning solutions into universal educational offerings with innovative software and complementary business models are huge,” he added.
NVP will be an active owner in the board and provide strong industrial as well as commercial competence for the profitable growth and globalization of SANAKO business.
SANAKO Board Member Juha Mikkola of Eqvitec Partners said he was pleased by NVP’s decision to invest. “This investment clearly marks the very interesting market and expansion opportunity that Sanako represents in the fast growing educational software market. Eqvitec technology funds and other existing owners continue to support the company and expect to further speed up the SANAKO’s development,” added Mikkola.
Nordic Venture Partners
Nordic Venture Partners is a venture capital firm with a portfolio of investments in the Information and Communications Technology sector. Our objective is to identify and develop unique young companies focusing in the following areas: enterprise software and hardware, communications software and hardware and internet applications and infrastructure. We add value to our portfolio companies by offering support and access to resources in key management areas, such as strategic planning, financing, recruiting of executives and board members and international business development.
Nordic Venture Partners is a venture capital company with a global perspective, dedicated to world class performance through hands-on involvement and international networking, applied in a few chosen ventures with unique potential.
Eqvitec Partners is one of the largest technology focused venture capital firms in Northern Europe. The company was founded in 1997 and employs 15 investments professionals in Helsinki and Stockholm. Eqvitec Partners currently advises five funds with a total capital base of 440 million euros. The funds invest in growing technology companies from start-up to later-stage phases. At the moment the funds have investments in 40 technology companies and have successfully carried out 25 exits.