Mentimeter AB (publ) (”Mentimeter” or the ”Company”), a fast-growing, global software platform has completed a private placement of approximately SEK 432 million. The Private Placement was oversubscribed and new investors, including Creades and Nordstjernan Growth, as well as existing investors, including Alfvén & Didrikson, participated in the transaction.
Mentimeter is a global software platform that creates engagement among audiences during meetings and presentations with interactive presentation elements, so-called Audience Engagement through an Audience Engagement Platform.
The company was founded with the ambition to fundamentally change corporate and education culture from talking to listening. Mentimeter allows organizations to harness their full potential, enabling informed decision-making by efficiently including every voice in the room. We all spend a big part of our days in meetings, workshops, lectures and presentations. Whether in-person or remote, Mentimeter helps to transform passive audiences into active contributors. Incorporating everyday engagement moments into the daily routines of hundreds of thousands of organizations helps them achieve optimal business and learning outcomes.
The Company’s platform changes traditional linear communication to engaging interaction with tools developed for the three different stages of a presentation and meeting, namely Prepare, Engage, and Follow up. The Company was founded in 2012 and has grown rapidly since inception, achieving an annual recurring revenue of more than SEK 281 million per Q4 2021. The Company has a strong cash flow profile and has thus far self-financed its growth journey.
The Private Placement amounted to approximately SEK 432 million. Creades, Nordstjernan Growth, and Alfvén Didrikson invested SEK 175 million, SEK 150 million, and SEK 100 million, respectively, in the Private Placement. In addition, certain employees and people with good insights into the Company invested smaller amounts in the Private Placement.
The Company intends to use the net proceeds from the Private Placement to continue to execute on the Company’s growth strategy, including:
- continue to invest in the platform and product development to outgrow competition and claim market leadership in new attractive segments and market verticals;
- accelerate investments in enterprise sales by ramping up the sales organisation in existing and new geographical markets; and
- investments into product and brand awareness in key markets.
Johnny Warström, co-founder and CEO of Mentimeter:
”I’m very proud and happy to have so many great colleagues, customers and supportive investors who believe in the same things that we believe in: that a world with more listening is a better world. We see how the culture in organisations fundamentally change when Menti is used: you listen more, the loudest-voice-in-the-room is balanced out and opinions surface that otherwise wouldn’t.
I’m incredibly excited to have continued support from Alfvén & Didrikson and new support from Creades and Nordstjernan Growth. With extra muscle we can carry out important investments and stay in our global leadership position. We are building a product for the benefit of 1 billion people, and that journey has just begun.”
Katarina Bonde, Chairwoman of the Board of Mentimeter:
”Creades, Nordstjernan Growth, and Alfvén & Didrikson are some of the highest regarded investors in Sweden and together we can now invest even more in our international expansion and sales growth. With the new investors we also add important knowledge to the Board that will lay the ground for our future success.”
Carnegie Investment Bank AB (publ) acted as Financial Adviser in connection with the Private Placement. Advokatfirman Vinge KB acted as legal adviser in connection with the Private Placement.
For additional information, please contact:
Johnny Warström, CEO
Tel: +46 (0) 708 65 66 09
Georg Rydbeck, CFO
Tel: +46 (0) 791 00 00 15