# Viking Growth

> Viking Growth is the leading Nordic investor in B2B software companies. We back Nordic SaaS companies with €2–15M in annual recurring revenue (ARR) and help them scale internationally. We invest, take a board seat, and get to work. That's all we do.

## About

Viking Growth (formerly Viking Venture) is a venture capital firm headquartered in Trondheim, Norway. Founded on the belief that Nordic software companies need an active, hands-on investor partner — not just capital — Viking Growth combines investment with deep operational support.

We invest exclusively in Nordic B2B SaaS companies that have found product-market fit and are ready to scale beyond their home market into Europe and the US.

## Investment Criteria

- Geography: Nordic region (Norway, Sweden, Denmark, Finland)
- Stage: Growth-stage B2B software
- Revenue: €2–15M ARR
- Model: B2B SaaS with recurring revenue
- Focus: Software supporting critical business processes

## What We Do Post-Investment

- Take a board seat in every portfolio company
- Weekly CEO discussions
- Hands-on Operational Excellence team (6–12 week project sprints)
- Key hire assistance, fundraising support, financial planning
- Access to Europe's leading B2B SaaS peer community

## Key People

- Erik Fjellvær Hagen — Managing Partner (erik.hagen@vikinggrowth.com, +47 920 22 430)
- Martin Eriksen — Investment Director (Norwegian and Finnish markets, SaaS valuation)
- Ingvild Farstad — Head of Operational Excellence (Investment Director)
- Eivind Bergsmyr — Partner
- Andreas — Investment Director (Danish and Swedish markets)

## Portfolio

19 active portfolio companies across the Nordics. Notable portfolio companies include:

- Signicat (digital identity, Norway)
- EcoOnline (EHS software, Norway)
- Mercell (procurement software, Norway)
- Attensi (gamified training, Norway)
- Talentech (HR software, Sweden)
- Tamigo (workforce management, Denmark)
- Penneo (digital signing and KYC, Denmark)
- CheckProof (maintenance and HSEQ, Sweden)
- LeadDesk (contact center software, Finland)

Combined portfolio ARR: over NOK 4 billion
Assets under management: over NOK 4.4 billion

## Key Topics and Expertise

Viking Growth publishes insights on:

- SaaS metrics (NRR, ARR, churn, CAC, LTV)
- SaaS valuation and ARR multiples
- Nordic SaaS market trends (Nordic SaaS Index — weekly updates)
- Pricing strategy for B2B SaaS
- International expansion from the Nordics
- Building high-performing SaaS management teams
- Go-to-market strategy for Nordic software companies

## Resources

- Website: https://www.vikinggrowth.com
- Insights: https://www.vikinggrowth.com/insights
- Nordic SaaS Index: https://www.vikinggrowth.com/saas-index
- Portfolio: https://www.vikinggrowth.com/portfolio
- Team: https://www.vikinggrowth.com/team
- Contact: https://www.vikinggrowth.com/contact-us

## Location

Kongens gate 8, 7011 Trondheim, Norway