The customer satisfaction survey industry in the Nordics focuses on gathering feedback to enhance service quality and customer experiences. Companies in this sector range from startups providing innovative feedback tools to established firms offering comprehensive data analysis. They develop solutions like online surveys, feedback terminals, and software for visual reporting, catering to both B2B and B2C markets. A shift towards digital engagement and AI-enhanced analytics is shaping the industry's future, allowing for more personalized and immediate insights. This evolution underscores the growing importance of understanding customer sentiments in this unique Northeastern European environment.


In this analysis, we showcase 14 notable investors in the customer satisfaction survey industry across the Nordics. These investors, including private equity and venture capital firms, are headquartered in cities like Oslo, Stockholm, and Helsinki, all contributing to the vibrant investment ecosystem. Founded between 1979 and 2018, they range in size from small teams to large corporate entities, highlighting the spectrum of investment approaches. In 2024 alone, they collectively made more than 160 investments, indicating a robust interest in enhancing customer experience solutions.


Top 14 Customer Satisfaction Survey Investors in the Nordics


1. Business Finland

  • Website: businessfinland.fi
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2018
  • Headcount: 501-1000
  • Number of deals in 2024: 26
  • LinkedIn: business-finland

Business Finland is a public entity based in Helsinki, Uusimaa, Finland, founded in 2018. It supports Finnish companies in their growth and internationalization efforts by providing funding, consulting services, and market opportunities. The organization plays a crucial role in promoting trade, tourism, and foreign investment in Finland. Notably, Business Finland has invested in several companies relevant to the customer satisfaction survey industry, including Trustmary, which received an $888,000 loan to enhance its market entry and development efforts. Other investments include Surveypal, VibeCatch, and Lumoa, all of which are involved in customer feedback and satisfaction solutions. These transactions highlight Business Finland's commitment to fostering innovation and success in the customer experience sector.


2. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Notably, Almi has been involved in several transactions relevant to the customer satisfaction survey context, including investments in Winningtemp, a startup focused on employee and organizational wellness, which raised funds in multiple rounds, including a significant €3.2 million funding round in 2019. This investment reflects Almi's interest in companies that contribute to improving workplace satisfaction, which is closely linked to customer satisfaction. Additionally, Almi has invested in Trustcruit, a company that likely focuses on recruitment and employee feedback, further emphasizing their engagement in sectors that impact customer satisfaction indirectly through employee engagement and satisfaction.


3. Verdane

  • Website: verdane.com
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1985
  • Headcount: 51-200
  • Number of deals in 2024: 7
  • LinkedIn: verdane-capital

Verdane is a private equity investment firm based in Oslo, Norway, founded in 1985. The firm specializes in growth equity investments in technology-enabled companies, focusing on digitalization and decarbonization trends. Verdane provides capital and hands-on support to help businesses scale, primarily targeting technology companies looking to enhance their market position and operational efficiency. Notably, Verdane has made significant investments in the customer satisfaction survey industry, including leading a $25 million Series B funding round for HappyOrNot, a company that offers customer satisfaction terminals and has a vast global customer base. Additionally, Verdane invested in Dapresy, a provider of visual data reporting software, which is relevant for analyzing customer feedback. Their investment in Voyado, a customer experience platform, further emphasizes their commitment to enhancing customer satisfaction through technology-driven solutions.


4. Vendep Capital

  • Website: vendep.com
  • Type: Venture Capital
  • Headquarters: Espoo, Uusimaa, Finland
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 5
  • LinkedIn: vendepcapital

Vendep Capital is a venture capital firm based in Espoo, Uusimaa, Finland, founded in 2016. The firm specializes in B2B SaaS investments across the Nordics and Baltics, providing funding and strategic advisory services to early-stage software companies. Vendep Capital has been actively involved in several transactions relevant to the customer satisfaction survey industry. Notably, they participated in a $1 million extended seed investment in Surveypal, a company focused on customer feedback solutions, and a $1.34 million seed round for Trustmary, which also operates in the customer satisfaction space. Furthermore, they have invested in HappySignals, a platform that enhances employee experience, which indirectly contributes to customer satisfaction by improving service delivery. Their focus on supporting startups from pre-seed to series A stages positions them as a key player in the growth of companies that are integral to the customer satisfaction survey market.


5. Seed Capital Denmark

  • Website: seedcapital.dk
  • Type: Venture Capital
  • Headquarters: Frederiksberg, Frederiksberg, Denmark
  • Founded year: 2004
  • Headcount: 1-10
  • Number of deals in 2024: 5
  • LinkedIn: seed-capital-denmark

Seed Capital Denmark is a venture capital firm based in Frederiksberg, Denmark, founded in 2004. The firm specializes in providing seed funding and advisory services to technology startups, particularly in sectors such as SaaS and Fintech. With a strong track record of successful investments, Seed Capital supports its portfolio companies from seed stage to exit. Notably, Seed Capital has been involved in multiple funding rounds for Trustpilot, a Copenhagen-based ratings platform that plays a significant role in the customer satisfaction survey industry. Trustpilot raised several rounds of funding with Seed Capital participating in Series A through Series E, showcasing their commitment to supporting companies that enhance customer feedback and satisfaction. This involvement highlights Seed Capital's relevance in the customer satisfaction survey context.


6. EQT Ventures

  • Website: eqtventures.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: eqt-ventures

EQT Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2015. The firm specializes in investing in early-stage tech startups, providing not only financial support but also operational assistance to entrepreneurs. EQT Ventures connects startups with a global network of industry experts and resources to foster growth and innovation. Notably, they have invested in companies like CallDesk, which develops AI agents for customer support, directly impacting customer satisfaction. They also led funding rounds for Tinyclues and Knoetic, both of which focus on enhancing customer engagement and experience through advanced technology solutions. With a total of 28 investments in 2024 alone, EQT Ventures demonstrates a strong commitment to supporting innovative companies that can improve customer interactions and satisfaction.


7. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a diverse range of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in companies relevant to customer satisfaction surveys, such as the acquisition of FocusVision in 2015, which offers market research technology solutions aimed at enhancing customer insights. Additionally, their acquisition of Press Ganey in 2016 highlights their commitment to improving performance in the healthcare sector, which is closely tied to customer satisfaction. These transactions demonstrate EQT's active role in industries that prioritize customer feedback and satisfaction, reinforcing their relevance in this space.


8. Inventure

  • Website: inventure.vc
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2005
  • Headcount: 11-50
  • Number of deals in 2024: 9
  • LinkedIn: inventure

Inventure is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2005. The firm specializes in backing ambitious Nordic and Baltic founders, providing venture capital investment and portfolio management services to early-stage tech startups. Inventure has been actively involved in various funding rounds, including notable transactions such as the investment in Now Interact, a Swedish machine learning startup that raised $5 million in a Series A round. This investment highlights Inventure's commitment to supporting innovative companies that leverage technology to improve customer engagement and satisfaction. Additionally, Inventure has invested in Kaisa, which has undergone multiple funding rounds, indicating their strategy of supporting companies through different stages of growth. These transactions reflect Inventure's focus on technology-driven solutions that can contribute to advancements in customer satisfaction measurement and analytics.


9. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Finland, founded in 2009. The firm specializes in early-stage investments, providing financial backing and advisory services to resilient entrepreneurs across various sectors. Lifeline Ventures has been involved in several notable transactions, including investments in School Day, a company focused on educational solutions, and Front AI, which develops AI chatbot services aimed at enhancing customer interactions. They also invested in Mobal, which secured €2 million in seed funding, and Swarmia, a software team productivity company that raised $7 million. These investments reflect Lifeline Ventures' commitment to supporting innovative startups that can potentially impact customer satisfaction and engagement.


10. Industrifonden

  • Website: industrifonden.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1979
  • Headcount: 11-50
  • Number of deals in 2024: 9
  • LinkedIn: industrifonden

Industrifonden is a venture capital fund based in Stockholm, Sweden, founded in 1979. The firm specializes in investing in early-stage companies, particularly in the fields of Deep Tech, Life Science, and Transformative Tech. They provide financial support and strategic guidance to startups, helping them scale their innovative solutions. Notably, Industrifonden has participated in several funding rounds for Funnel, a software company that focuses on data integration and analytics, which are essential for customer satisfaction surveys. Funnel raised significant amounts in Series A, B, and C funding rounds, with Industrifonden being a key investor. This involvement highlights Industrifonden's interest in companies that can impact the customer satisfaction survey landscape, even if their broader investment strategy encompasses various sectors.


11. LINK Mobility


LINK Mobility is a corporate investor based in Oslo, Norway, founded in 2000. The company specializes in mobile communication services, offering a range of products such as SMS messaging, RCS, and marketing automation solutions designed to enhance customer engagement across various industries. LINK Mobility has been active in expanding its capabilities through strategic acquisitions, including the acquisition of MessageBroadcast in 2021, which is a U.S. provider of customer engagement solutions. This acquisition is expected to bolster LINK's growth in the U.S. market and enhance their offerings in customer engagement, making them a significant player in the customer satisfaction survey context. Other notable acquisitions include EZ4U, MarketingPlatform, and Netsize, all of which contribute to their goal of improving business-to-consumer communication and engagement.


12. Superhero Capital


Superhero Capital is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2015. The firm specializes in seed funding for software-driven startups in the New Nordics region, providing financial backing and strategic support to entrepreneurs. Superhero Capital aims to empower founders and foster innovation in the technology sector. Notable transactions include investments in VibeCatch, a platform that likely relates to customer engagement, and Videobot, a SaaS startup that has successfully attracted over 200 customers in diverse industries, indicating a potential link to customer satisfaction solutions. Additionally, their investments in Custobar, a customer data platform, further highlight their engagement in the customer experience and satisfaction domain.


13. Creandum

  • Website: creandum.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 11-50
  • Number of deals in 2024: 17
  • LinkedIn: creandum

Creandum is a venture capital firm based in Stockholm, Sweden, founded in 2003. The firm specializes in supporting early-stage entrepreneurs in building global, category-defining companies. With a focus on nurturing companies from seed to IPO, Creandum provides venture capital investment, strategic support, and networking opportunities across various sectors, including fintech and health tech. Notably, Creandum has been involved in significant transactions such as their investments in Cint, a leading platform in the customer satisfaction survey industry, where they participated in both Series A and Series B funding rounds. Additionally, they have invested in Leapsome, a people management platform, which aligns with enhancing employee engagement and satisfaction, further showcasing their interest in customer and employee satisfaction metrics. Their recent investments in companies like Bucket also indicate a commitment to innovative solutions that may intersect with customer feedback and satisfaction.


14. Finnvera

  • Website: finnvera.fi
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2000
  • Headcount: 201-500
  • Number of deals in 2024: 3
  • LinkedIn: finnvera

Finnvera Oyj is a public entity based in Helsinki, Finland, founded in 2000, that provides financial services aimed at supporting the growth and internationalization of Finnish businesses. With a focus on small and medium-sized enterprises, Finnvera offers a range of financial products including loans, guarantees, equity investments, and export guarantees. Notably, Finnvera has participated in investments such as Surveypal, which received a $1 million extended seed investment to expand its sales and marketing efforts in North America. This investment highlights Finnvera's commitment to supporting companies that enhance customer satisfaction through innovative solutions. Other investments include Etuma and VRT Finland, both of which are also in the early stages of development, indicating Finnvera's strategy to back emerging companies that may contribute to the customer satisfaction survey landscape.



Customer Satisfaction Survey Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
Business FinlandHelsinki, Uusimaa, Finland501-1000201826
AlmiStockholm, Stockholm, Sweden201-50019947
VerdaneOslo, Oslo, Norway51-20019857
Vendep CapitalEspoo, Uusimaa, Finland1-1020165
Seed Capital DenmarkFrederiksberg, Frederiksberg, Denmark1-1020045
EQT VenturesStockholm, Stockholm, Sweden11-50201528
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
InventureHelsinki, Uusimaa, Finland11-5020059
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
IndustrifondenStockholm, Stockholm, Sweden11-5019799
LINK MobilityOslo, Oslo, Norway501-100020003
Superhero CapitalHelsinki, Uusimaa, Finland1-1020157
CreandumStockholm, Stockholm, Sweden11-50200317
FinnveraHelsinki, Uusimaa, Finland201-50020003


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