Skagerak Capital successfully exits its investment in Semine AS through its sale to Rydoo, supported by Eurazeo, following a substantial growth in the company's annual recurring revenue.

Information on the Target

Semine AS is a Norwegian company that specializes in AI-driven finance automation, founded in 2016. It has developed a self-learning artificial intelligence platform designed to enhance the finance operations of medium to large enterprises by automating invoice reception, coding, and allocation. The platform also provides finance departments with real-time insights and explainable AI, ensuring high efficiency and reduced reliance on paper.

With strong industry recognition, Semine has been acknowledged as a leader in intelligent automation by Gartner in both 2021 and 2023 and has been listed in Deloitte’s Fast 50 as one of Norway's fastest-growing tech companies. Its solutions not only improve cost allocation and data quality but also streamline finance processes for a diverse range of clients, including Nordic enterprises and international groups.

Industry Overview in Norway

The finance automation industry in Norway has seen significant growth, driven by the increasing demand for efficiency and sustainability in financial operations. Norwegian businesses are increasingly adopting advanced technologies, in