Fortino Capital invests in ProMark, a leading provider for workforce management software
Fortino Capital invests in ProMark, a leading provider for workforce management software
Munich, 28 June 2024 - Fortino Capital, a European-based growth investor in B2B software, announces its investment in ProMark, a leading Nordic provider of all-in-one workforce management software tailored to high-complexity needs. Founded in 1981, ProMark brings its in-depth experience to over 400 customers across 20+ countries, with more than 300,000 users utilizing the software every day.
The Danish software vendor ProMark helps mid-sized to enterprise companies increase productivity and profitability whilst maximizing employee engagement, by offering advanced functionality for time and attendance reporting, absence and task management as well as scheduling. To meet the diverse needs of its customers, ProMark is able to seamlessly integrate over 50 systems for payroll and HR, ERP or cloud services. User-friendly access and advanced analytics ensure an enhanced customer experience.
Since the workforce market exhibits different characteristics internationally, companies face various challenges in these markets. ProMark’s unique expertise and technical know-how allows them to support organizations regardless of complexity.
ProMark successfully initiated the transition to SaaS last year. Fortino Capital is investing with the management in ProMark to further accelerate growth and expand internationally to become a leading European provider of cloud-based workforce management software for mid-sized to enterprise manufacturing customers. This acquisition marks Fortino's first PE-Growth investment in the Nordics.
Torkel Olrik, CEO of ProMark: “Over the past decade, ProMark has achieved tremendous growth and established a position as the market leader in workforce management software in the Nordics. With Fortino Capital as a catalyst, we will be able to accelerate our international expansion and become a European contender. Fortino Capital is a solid European growth investor and therefore the perfect partner to ensure the continued success of ProMark. With many successful B2B software companies in their portfolio, they have the knowledge and strength to invest in our solution and organisation to fuel our future growth.”
Philipp Remy, Partner at Fortino Capital: "ProMark’s ability to help customers in highly complex workforce markets is one of the key ingredients for their success. The uptake in workforce management solutions in manufacturing is expected to be significantly higher than in other frontline and remaining industries. With its uniquely specialized product offering in the mid-sized to enterprise segment, ProMark is well positioned to establish and maintain a market leadership position in Europe. We are excited about this investment and eager to support management on this promising growth journey.”
About Fortino Capital
Fortino Capital is a European investment firm focused on rapidly growing B2B software solutions. It manages two private equity growth funds and two venture capital funds. With offices in Belgium, the Netherlands, and Germany, Fortino supports exceptional and ambitious entrepreneurs across Europe. The private equity growth portfolio of Fortino Capital includes SIMCON (DE), Cerrix (NL), Addactis (BE), VanRoey (BE), BizzMine (BE), MobileXpense (BE), Efficy CRM (BE), Tenzinger (NL), SpeakUp (NL), Cenosco (NL), Maxxton (NL), and Bonitasoft (FR). Fortino's venture capital portfolio includes Vertuoza (BE), TechWolf (BE), Zaion (FR), Salonkee (LUX), Sides (DE), D2X (NL), Altura (NL), Billy Grace (NL), Peers (DE), and Kosli (NO).
About ProMark
ProMark is a leading vendor of SaaS Workforce Management solutions. With advanced functionality for time & attendance reporting, absence and task management as well as scheduling, our all-in-one solution helps some of the largest and most well-known Nordic brands maximise employee engagement, productivity, and profitability. ProMark has 85+ employees and is headquartered in Denmark with subsidiaries in Sweden, Norway, UK, and Romania. Read more at www.promark365.com.
