Snow Software receives investment from Vitruvian Partners
Snow Software AB, the leading provider of Software Asset Management (“SAM”) solutions, today announced it has received an investment from funds managed by Vitruvian Partners. The founders and key management will continue in their existing roles and retain a substantial equity investment in the business, in partnership with Vitruvian Partners.
Chief Executive Officer and co-founder of Snow, Axel Kling, commented: "Vitruvian Partners has a strong track record of helping European technology companies reach their fullest potential and we are thrilled to have them on board. Within a few years, we have gone from being a Nordic provider of inventory solutions to a leading global SAM company and with Vitruvian on the team we will have the necessary skillset and experience to develop our solutions and business even faster going forward."
Mike Risman, Managing Partner at Vitruvian Partners, said "As IT infrastructures are becoming increasingly complex, Snow has made advanced SAM functionalities accessible both for mid sized and large corporations without the need for excessive integration work and specialised IT personnel. The team at Snow has been very successful in leveraging this strategy to build a leading position in the global SAM market, while at the same time achieving impressive financial results. We are delighted to be partnering with the founding team at this stage of the company's development and look forward to helping Snow make the most of its future opportunities."
For further information please contact Axel Kling on +46 (0)8 545 475 30