Konsolidator A/S
Konsolidator seeks further growth capital and changes certified adviser
Compnay announcement no 3-2021
Søborg, 15 March 2021
Konsolidator seeks further growth capital and changes certified adviser
Konsolidator continues its growth journey, where 74% growth in ARR was realized in 2020. Konsolidator expects to deliver growth rates at this level for the next couple of years without additional capital, but as the go-to-market strategy defined at the time of the IPO in May 2019 has proven its value, Konsolidator has the potential to accelerate even faster. Since the IPO, it has also become apparent that Konsolidator can grow through other channels and with an expanded product base.
Konsolidator seeks additional capital to enable Konsolidator to not only accelerate the current go-to-market strategy but also develop new sales channels.
Most of the funds will be used to establish sales offices in South East Asia and the US East Coast. Konsolidator has signed its first customer in Boston as well as signed customers in Singapore. Thus, the board and management believe that to accelerate the go-to-market strategy in North America and Asia, a presence in the two parts of the world is important. Furthermore, the expansion is also to be able to support the time zone differences in the sales cycle and be closer to sales and onboarding partners.
Konsolidator will further expand the sales channels with:
- A sales partner strategy with a dedicated resource responsible for implementing and executing a sales partner strategy in areas where Konsolidator does not have sales representatives.
- Defining and executing a sales strategy towards potential users of Konsolidator Audit®. With the signing of the agreement with PwC Denmark, it became apparent that there is an interesting potential in the audit firm segment. Being a provider to audit firms will give Konsolidator a stamp of approval.
- Strategic partnerships: In Q2-2020 Konsolidator has developed APIs for well-reputed cloud-based ERP systems and to accounting software. With these APIs developed, Konsolidator can communicate directly with potential customers through the different systems’ App stores.
- CaaS: A new business area has arisen within cloud-based consolidation systems, called Consolidation-as-a-Service. Two partnerships have been established but more are in the pipeline and Konsolidator will define and execute a strategy within this field.
Putting all of the above together, Konsolidator expects to increase the growth in 2022 with the accelerated strategy from the current expected growth of around 70-90%.
Furthermore, part of the funds will be used to scale up the development department.
"Our growth journey on Nasdaq First North Growth Market has been remarkable where we not only have grown in terms of acquiring new customers but also in our internal learning curve. We can see that our go to market strategy works to the extent that the Return on invested Sales & Marketing cost is reasonable and feel prepared to explore new markets further away from Denmark.", says CEO Claus Finderup Grove.
Change of certified adviser
Konsolidator has engaged Grant Thornton Statsautoriseret Revisionspartnerselskab (GT) as certified adviser. GT will assist Konsolidator in finding investors for the capital increase.
Jesper Vestergaard is the head of the Corporate Finance department at GT and has several years of experience in mergers and acquisition. Jesper has assisted several companies being listed on the Nasdaq First North Growth Market. Jesper is certified adviser for Penneo, WindowMaster and Valuer.
About Konsolidator
Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making.
For further information: CEO Claus Finderup Grove, mobile. +45 2095 2988, e-mail: cfg@konsolidator.com
Konsolidator A/S
Vandtårnsvej 38A
2860 Søborg
www.konsolidator.com
Certified Adviser
Grant Thornton
Stockholmsgade 45
2100 Copenhagen
www.grantthornton.dk
Attachment
About Globenewswire
Subscribe to releases from Globenewswire
Subscribe to all the latest releases from Globenewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Globenewswire
Boyden15.4.2021 03:24:01 CEST | Press release
Record year for Boyden Denmark in 2020
Boyden15.4.2021 03:23:51 CEST | Pressemeddelelse
Rekordår for det nye Boyden-team i Danmark
TigerGraph, Inc.8.4.2021 15:01:29 CEST | Press release
TigerGraph’s Graph + AI Summit 2021 to Feature 40+ Sessions, Live Workshops and Speakers from JPMorgan Chase, NewDay, Pinterest, Jaguar Land Rover and More
Agillic A/S7.4.2021 09:01:28 CEST | Press release
Agillic launches a new fast and advanced SMS editor to help clients deliver personalised SMS experiences
TigerGraph, Inc.30.3.2021 15:29:56 CEST | Press release
Technical University of Denmark uses TigerGraph to help find more effective treatments for acute lymphoblastic leukemia
Møns Bank A/S26.3.2021 07:03:33 CET | Pressemeddelelse
Indkaldelse til ekstraordinær generalforsamling 19. april 2021
Sika AG26.3.2021 07:02:09 CET | Press release
SIKA ACQUIRES FLOORING ADHESIVES BUSINESS IN THE USA
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom