This post is a translated version of a news article published by the Norwegian leading business news publication "Finansavisen".Synergy SKY receives $6.5 million USD backing as the Swedish investor Håkan Roos becomes major shareholder.
Internationally Roos is known for being one of the early owners of the Swedish start-up Izettle, which was acquired by PayPal for $2.2 billion USD in 2018.
“This investment gives us the opportunity to do three things: push more innovation, strengthen sales and bring the best expertise we could have wished for onto the board”, says Ståle Reitan, CEO and co-founder of Synergy SKY.
Håkan Roos is heading up the investment on behalf of Roos Gruppen AB (The Roos Group), in which one of the representatives will take an active part in the board of Synergy SKY.
“Roosgruppen has up until now held a small number of shares in the company and kept up to date on business developments”, says SVP of Marketing Vemun Waksvik.
Fortune 500 companies flock around software
When the opportunity presented itself, Roos wanted a deeper involvement in the company.
“Covid-19 is a tragedy for everyone and has highlighted the importance of digital interaction. Seizing the opportunity to invest in a company that is a leader in video conferencing and collaboration technology, with a goal of frictionless user experience, feels very right at this time”, he says and continues,
“Time is everyone’s most valuable asset, and this company is sitting on a solution we need now more than ever.”
Half of Synergy SKY’s revenue of around $6 million USD in 2019 stems from the US, with more than 30 of the Fortune 500 companies on the customer list.
Vendor agnostic software
With roots in Tandberg, Synergy SKY is now an international leading player for software that makes it easy to join video meetings delivered by different vendors, such as Zoom, Microsoft Teams and Webex. Dell EMC is one of Synergy SKY’s many global customers.
“Dell EMC came to us because they saw that operating two different video platforms is very demanding. But, when we came in it turned out they were actually using seven different systems and making a region or country change their system was too challenging”, Waksvik says.
“With our software every meeting is more user friendly. All you have to do to join a meeting is to push a green button, regardless of which vendor or system you are using”, Waksvik says.