In the Nordics, the data analytics industry thrives on innovation and practicality. It comprises a mix of tech startups and established enterprises that harness data to provide powerful insights and solutions in various sectors, including finance, health, and marketing. Companies like Qlik and Apica exemplify this trend, offering analytics platforms and tools that transform raw data into actionable intelligence. With a growing focus on artificial intelligence and machine learning, the industry is set to evolve further, catering to an increasing demand for real-time analytics and predictive capabilities that enhance decision-making and business strategies.


This list features an array of 18 notable investors, including venture capital firms and private equity companies, primarily located in Stockholm, Helsinki, and Oslo. Founded between 1979 and 2020, these investors range in size from small teams to major firms with thousands of employees. 2024 saw them collectively make 206 investments in the data analytics sector, underscoring their commitment to innovative companies. This breadth of investment spans various stages and market segments, emphasizing the significant interest in the Nordic data analytics landscape.


Top 18 Data Analytics Investors in the Nordics


1. 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 by offering tailored financial solutions and guidance. Among their notable transactions, Almi has invested in Apica, a company that raised multiple funding rounds (including Series B and C) for its performance monitoring and analytics platform, which is relevant to the data analytics industry. Additionally, Almi participated in a funding round for Mediatool, a media management software company, further showcasing their involvement in sectors that intersect with data analytics.


2. 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 investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Among their notable transactions, EQT has acquired FocusVision, a company that offers market research technology solutions, highlighting their focus on data analytics and insights. Additionally, EQT's recent acquisition of Perficient, a digital consultancy firm, further emphasizes their commitment to investing in companies that utilize data analytics to drive business growth and innovation. These strategic investments reflect EQT's understanding of the importance of data in today's business landscape.


3. 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 invested in Qlik, which raised $12.5 million in a venture round in 2004, and Funnel, a software company focused on data integration and analytics. Funnel has received multiple rounds of funding from Industrifonden, including $10 million in Series A (2017), $47 million in Series B (2020), and $65.8 million in Series C (2021). These transactions highlight Industrifonden's active role in the data analytics sector, showcasing their commitment to fostering growth in this area.


4. 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 Oden Technologies, which raised $28.5 million in Series B funding in 2024, and has previously raised funds in Series A and Seed rounds, focusing on expanding their R&D and engineering teams. Additionally, EQT Ventures has invested in Standard Cognition, which raised $150 million in Series C funding in 2021, and $35 million in Series B funding in 2019, aimed at expanding their global presence and launching their technology in Europe. These transactions highlight EQT Ventures' active role in the data analytics industry, particularly through their support of companies that leverage data to drive innovation and efficiency.


5. 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, providing both capital and hands-on support to help businesses scale. Verdane focuses on trends in digitalization and decarbonization, primarily targeting technology companies that seek to enhance their market position and operational efficiency. Among their notable transactions, Verdane invested in Dapresy, a company that offers visual data reporting software, which is crucial for data analytics. They also invested in Meltwater, a media monitoring startup that utilizes data analytics to provide insights into media coverage. These investments highlight Verdane's commitment to supporting companies that are integral to the data analytics landscape.


6. Nordic Capital

  • Website: nordiccapital.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 10
  • LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, including healthcare and technology, with a strong emphasis on creating long-term value and sustainability. Nordic Capital has been actively involved in the data analytics sector, notably through its acquisitions of Macrobond and Board International. Macrobond, acquired in August 2018, is a provider of data analytics solutions that help financial professionals access and analyze economic data. Similarly, Board International, acquired in January 2019, offers a data analytics and business intelligence platform that enables organizations to make data-driven decisions. These transactions highlight Nordic Capital's commitment to investing in companies that enhance data analytics capabilities, further solidifying their position in this industry.


7. Icebreaker.vc

  • Website: icebreaker.vc
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: icebreaker-vc

Icebreaker.vc is a venture capital firm based in Helsinki, Finland, founded in 2016. The firm specializes in providing funding and support to idea-stage technology startups, primarily in Finland, Estonia, and Sweden. Icebreaker.vc has been involved in several notable transactions in the data analytics space, including investments in Alvin, a SaaS data lineage company that raised $6M in seed funding, and reconfigured, which raised €1 million in a pre-seed round to assist SaaS companies with data management. Additionally, they participated in funding rounds for Sellforte, an AI-powered marketing optimization platform, indicating their engagement with data-driven technologies. Overall, Icebreaker.vc's investment strategy reflects a commitment to supporting innovative tech startups, including those in the data analytics sector.


8. Visma

  • Website: visma.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1996
  • Headcount: 10001+
  • Number of deals in 2024: 16
  • LinkedIn: visma

Visma is a corporate investor based in Oslo, Norway, specializing in cloud-based software solutions for accounting, payroll, invoicing, and HR. Founded in 1996, Visma serves small and medium businesses as well as public sector organizations, helping them automate and simplify their administrative processes. The company has made significant strides in the data analytics space through strategic acquisitions. For instance, in 2021, Visma acquired Synaxion, a business intelligence software provider, to strengthen its position in the Dutch e-Government market. Additionally, the acquisition of Weoptit in 2018, a leading AI optimization company, showcases Visma's focus on enhancing its expertise in AI and data analytics. Furthermore, the acquisition of Lyanthe in 2022, a financial software specialist, aims to improve automatic invoice processing, which is closely tied to data analytics in financial management. These transactions reflect Visma's commitment to integrating data analytics into its software solutions, positioning it as a relevant player in the data analytics industry.


9. 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 focuses on backing ambitious Nordic and Baltic founders, providing venture capital investment and portfolio management services to early-stage tech startups. Inventure has been involved in several notable transactions, particularly in the data analytics sector. For instance, they co-led a pre-seed financing round for Steep, a Stockholm-based next-generation analytics platform, raising €1 million to facilitate product launch and development. Additionally, Inventure participated in the Series A funding for Whatagraph, a marketing agencies reporting software, which raised $7.2 million to enhance product development and expand operations. They also invested in Stravito, a knowledge management solution, which raised €12.4 million to accelerate product development and global expansion. These transactions highlight Inventure's commitment to supporting innovative companies in the data analytics space.


10. Chalmers Ventures


Chalmers Ventures is a venture builder and tech investor based in Sweden, founded in 2015. They focus on deep tech innovations and support researchers and entrepreneurs in commercializing their technology through various programs. Their model emphasizes active ownership and investment in startups, helping them scale and succeed in the market. Notably, they have been involved in several transactions relevant to data analytics, including a significant investment in Evispot AB, a company that develops an AI-based tool for credit assessments. This investment highlights their commitment to supporting data-driven technologies. Other investments include early-stage funding for startups like Braviz and Endre Technologies AB, showcasing their active engagement in nurturing innovative tech ventures.


11. 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. They provide venture capital investment, strategic support, and networking opportunities to startups across various sectors, including fintech and health tech. Notably, Creandum has been involved in several significant transactions in the data analytics context, particularly with Neo4j, an open-source graph database vendor. Creandum participated in multiple funding rounds for Neo4j, including a Series F round that raised $325 million in June 2021, aimed at enhancing the company's go-to-market efforts and advancing data science and cloud technologies. Additionally, they were involved in earlier funding rounds for Neo4j, including Series E, D, and C, showcasing their long-term commitment to supporting innovative data analytics solutions. Creandum's business model focuses on nurturing companies from seed to IPO, leveraging their expertise and connections to help entrepreneurs succeed, particularly in the data analytics domain.


12. 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. Notable transactions include Tembi, which raised over $3 million in a seed round in December 2024, and Risika, which secured nearly $5.7 million in a seed round in December 2021. Additionally, they invested in Blackwood Seven, a company focused on marketing analytics, further highlighting their engagement in the data analytics domain. Their investment in Mesh Bio, which raised $3.5 million in Series A funding, also reflects their commitment to innovative technology solutions. Overall, Seed Capital Denmark plays a significant role in nurturing technology startups that may incorporate data analytics into their business models.


13. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in early-stage investments, providing financial backing and advisory services to resilient founders across various sectors. Notably, Lifeline Ventures has been involved in several transactions relevant to the data analytics industry, including a significant investment in Inven, a Finnish M&A software startup that raised €1.5 million in Seed funding. This investment highlights Lifeline's commitment to supporting innovative companies in the data analytics space. Additionally, they have invested in Aiven, a company that provides cloud-based data infrastructure services, which further emphasizes their engagement in the data analytics sector. With a total of 14 investments in 2024 alone, Lifeline Ventures continues to play an active role in nurturing startups that contribute to the growth of data analytics and related technologies.


14. OpenOcean

  • Website: openocean.vc
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: openocean-vc

OpenOcean is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in investing in early-stage technology startups across Europe, with a strong emphasis on empowering founders in the data economy. OpenOcean provides both capital and expertise to help scale innovative solutions in various technology industries. Notably, OpenOcean has been involved in significant transactions within the data analytics space, such as leading the Series A funding round for Supermetrics, a company focused on data integration for marketing, and participating in the Series B funding for Unacast, a location data software developer. Additionally, OpenOcean has invested in Import.io, a web data integration platform, further solidifying their presence in the data analytics sector. Through these investments, OpenOcean demonstrates a clear commitment to supporting companies that are innovating in the data analytics field.


15. First Fellow Partners


First Fellow Partners is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2016. The firm specializes in investing in startups and providing strategic guidance to entrepreneurs, particularly in technology and innovation sectors. They prioritize long-term partnerships with founders and invest their own funds to support business growth. Notably, First Fellow Partners has been involved in funding rounds for AlphaSense, a prominent player in the data analytics industry, which raised significant capital in Series A and Series B rounds to enhance its deep learning AI capabilities and expand its services. Additionally, they have invested in Louhe, which, while not explicitly a data analytics company, may have potential relevance depending on its business model and focus. Overall, First Fellow Partners demonstrates a commitment to technology-driven companies, including those in the data analytics space.


16. Ericsson

  • Website: ericsson.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1876
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: ericsson

Ericsson is a leading telecommunications company based in Stockholm, Sweden, founded in 1876. With a workforce of over 10,000 employees, Ericsson specializes in providing advanced connectivity solutions, including 5G networks and IoT platforms. Their offerings are designed to enhance operational efficiency and improve user experiences through reliable and high-speed connectivity. As an investor, Ericsson has participated in several significant transactions relevant to the data analytics sector. Notably, they invested in Trifacta, a data preparation platform that raised $48 million in Series D funding in January 2018, highlighting their interest in data analytics tools. Additionally, they have been involved with Formant, a robotics data and operations platform, which secured $21 million in a growth round in October 2023, and previously raised $18 million in Series A funding in January 2022. These investments reflect Ericsson's strategic focus on integrating data analytics into their technology offerings and enhancing their capabilities in the telecommunications industry.


17. 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, specializing in B2B SaaS investments across the Nordics and Baltics. Founded in 2016, Vendep Capital provides funding and strategic advisory services to early-stage software companies, helping them scale and succeed in competitive markets. They focus on startups from pre-seed to series A stages, leveraging their expertise and networks to drive growth. Notable transactions include their investment in Hopsworks, a Stockholm-based platform for data-intensive artificial intelligence, which secured $6.5 million in a Series B funding round led by Vendep. This investment highlights their commitment to data analytics technologies. Additionally, they led a seed funding round for My Telescope, a market intelligence startup, which underscores their interest in companies that provide data-driven insights. These transactions illustrate Vendep Capital's active role in the data analytics industry.


18. Heartcore Capital

  • Website: heartcore.com
  • Type: Venture Capital
  • Headquarters: Copenhagen, Denmark
  • Founded year: 2007
  • Headcount: 11-50
  • Number of deals in 2024: 17
  • LinkedIn: heartcorecapital

Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies, focusing on providing capital and guidance to entrepreneurs throughout their business journey. Heartcore operates globally and emphasizes building long-term relationships with founders to help them achieve their goals. Notably, Heartcore has been involved in significant transactions within the data analytics context, particularly with Neo4j, a leading graph database platform. Heartcore participated in multiple funding rounds for Neo4j, including a Seed Round in 2009, Series A in 2011, Series B in 2012, Series C in 2015, and Series D in 2016, cumulatively investing over $60 million. This involvement highlights Heartcore's commitment to supporting innovative companies in the data analytics space.



Data Analytics Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
IndustrifondenStockholm, Stockholm, Sweden11-5019799
EQT VenturesStockholm, Stockholm, Sweden11-50201528
VerdaneOslo, Oslo, Norway51-20019857
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
Icebreaker.vcHelsinki, Uusimaa, Finland11-5020167
VismaOslo, Oslo, Norway10001+199616
InventureHelsinki, Uusimaa, Finland11-5020059
Chalmers VenturesSweden11-50201526
CreandumStockholm, Stockholm, Sweden11-50200317
Seed Capital DenmarkFrederiksberg, Frederiksberg, Denmark1-1020045
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
OpenOceanHelsinki, Uusimaa, Finland11-5020097
First Fellow PartnersHelsinki, Uusimaa, Finland1-1020164
EricssonStockholm, Stockholm, Sweden10001+18763
Vendep CapitalEspoo, Uusimaa, Finland1-1020165
Heartcore CapitalCopenhagen, Denmark11-50200717


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