Information on the Target

CheckProof is a Swedish Software-as-a-Service (SaaS) company dedicated to digitizing the construction materials industry through its innovative platform. Founded in 2014 by CEO Håkan Holmgren and Jonas Pålgård, CheckProof addresses the pressing need for operational efficiency and regulatory compliance, a significant concern within the industry that has traditionally relied on pen-and-paper methods.

Since its inception, the company has experienced substantial growth, with its solutions widely adopted by leading global players in the construction materials sector. Based in Stockholm, Sweden, CheckProof currently serves a diverse client base across over 38 countries, continually expanding its global reach through strategic product innovations and exceptional customer support.

Industry Overview in Sweden

The construction materials industry in Sweden has been undergoing a significant transformation driven by technological advancements and digitalization. As companies increasingly embrace innovative solutions, they are recognizing the benefits of streamlining operations, enhancing productivity, and ensuring regulatory compliance. The move away from traditional methods towards more efficient systems is vital for the industry's growth and sustainability.

Moreover, the ongoing push for sustainability in construction practices necessitates better management of resources and materials. This surge in awareness creates opportunities for companies that offer digital solutions, enabling firms to manage assets and ensure on-site personnel safety effectively. As such, the demand for SaaS solutions tailored for the construction industry is expected to increase in the coming years.

Swedish companies, particularly in the construction sector, are known for their focus on quality and safety standards. With international companies already recognizing the importance of advanced software, CheckProof is uniquely positioned to expand its offerings and establish a deeper market presence.

In conclusion, the growing shift towards digital solutions in Sweden's construction materials industry presents a favorable landscape for innovative firms like CheckProof. By leveraging advanced technology, these companies can enhance operational performance and drive sustainable practices within the industry.

The Rationale Behind the Deal

The investment by Viking Venture in CheckProof is predicated on the potential for significant growth within the construction materials industry, particularly as digital solutions continue to gain traction. By partnering with CheckProof, Viking Venture aims to support its ambitious expansion plans in both North America and Europe.

CheckProof's platform enhances operational efficiencies through data-driven optimization, which resonates with current market demands for effective resource management and safety compliance. Viking Venture's commitment to long-term collaboration will provide CheckProof the resources and strategic guidance needed to capitalize on this growth opportunity.

Information about the Investor

Viking Venture is recognized as the leading Nordic B2B Software investor, with a specific focus on fast-growing scale-up companies in the Nordics. The firm specializes in investing in business-to-business software companies that exhibit international potential. With over NOK 4 billion under management and headquarters in Trondheim, Norway, Viking Venture has a strong track record in supporting innovative companies.

The firm aims to facilitate the growth and success of its portfolio companies on a global scale by providing both investment and strategic support. Viking Venture’s expertise in the software space positions it as an ideal partner for CheckProof as they embark on their next phase of growth.

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The investment in CheckProof by Viking Venture appears to be a promising opportunity, considering the growing interest in digital solutions within the construction materials industry. The platform's ability to seamlessly connect frontline operations with office management, while enhancing safety and efficiency, makes it a compelling investment as the market increasingly shifts towards technological innovation.

Additionally, CheckProof’s existing client base, which includes industry-leading international companies, establishes a solid foundation for further market penetration. The potential for high growth, particularly in the North American and European markets, along with Viking Venture's longstanding expertise in scaling up software companies, augers well for the partnership.

Moreover, as the construction sector increasingly adopts data-driven practices, the demand for CheckProof's platform is likely to escalate. This trend towards digitization positions CheckProof at the forefront of a significant industry shift, making Viking Venture's investment a strategically sound decision.

In conclusion, the collaboration between Viking Venture and CheckProof provides a unique opportunity to harness the potential of digital solutions in the construction materials space, indicating a bright outlook for future growth and innovation in this sector.

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