Secapp Ltd. has strengthened its ownership base and has chosen private equity fund Midinvest Oy to become its partner. As a new owner, Midinvest will bring along its expertise in scaling international SaaS businesses and financing growth to help the company prepare for its next phase of international growth. Following the restructuring, Midinvest will own 10.7% of Secapp.
We want to do everything we can to ensure that people and the functions of society are protected
Secapp produces and develops a secure application for a wide range of uses in organizational and crisis communications. The main features of the application are multi-channel alerts of key individuals, secure instant messaging, as well as documentation and reporting of critical information. Secapp is used by over 100,000 professionals in 12 countries, sending more than four million alerts annually. The company was founded in 2011 by an expert team specializing in applications, mobile technologies and business expertise for critical communications. Over the years, the core team has laid a strong foundation for Secapp, as evidenced by the fact that the company has become a rapidly evolving force for the promotion of security worldwide.
“In line with our company values, we aim at all times to evaluate how we can best demonstrate our reliability, accuracy and continuity, all the while striving to never get stuck in a rut as a company, but rather to constantly flow, change, move forward and renew. We have been able to convince partners and clients in 12 countries that we can deliver on this value guarantee. But now is the time to look even further ahead into the future,” says Secapp’s CEO Kari Aho of the change in ownership.
“Over the years, some of Secapp’s original founding team members have moved on to other roles. Following joint discussions, it was decided that our ownership base needed a bit of a boost and expertise that would help Secapp to take its next big step toward building a global service package. After consulting with a number of partners, we were able to find a common vision with the team at Midinvest Oy. We are grateful to the founding members for their valuable work and dedication to the development of Secapp. Without their efforts, Secapp would not be what it is today.”
Secapp’s vision is to save lives. “It was important to us that the new owner would support us in the realization of our vision from the very beginning and be ready to actively apply their own expertise in implementing the company’s growth strategy. Working with Midinvest has been seamless from the very beginning and we have been able to build trust amongst key personnel. Both parties are committed to the goals we have set together,” explains Aho.
Midinvest specializes in small business and SME restructuring and growth financing. The company has proven its expertise as an active owner that is committed to helping the companies within its portfolio to achieve their goals. Midinvest’s current target enterprises include SaaS companies from Central Finland, such as Aiwo Digital, Woolman Oy and Howspace Oy.
Secapp is backed by a team with a proven ability to grow an international and profitable business
“We have been following Secapp’s growth story for some time and have found that there is a global demand for the company’s products. The company has been able to demonstrate the demand for and quality of the product domestically, which is a strong starting point for internationalization. The company is at a very interesting stage in its development cycle, which made us even more interested,” says Jukka-Pekka Nikula, Managing Director of Midinvest Management Oy.
There is a growing, global demand for critical communication tools. Secapp intends to continue to grow in its current 12 markets, as well as expand globally, through strategic partnerships and recruitment. The company has set a goal to increase its turnover to 50 million euros by 2025 and double its staff to 100 employees in the next few years.
“Beyond just strong growth, the company has managed to grow profitably. This is a strong sign that they are on the right track. Secapp has an experienced team that has demonstrated its ability to build an internationally scalable SaaS service for critical communications, and when there was an opportunity to join in this work as owners, we were keen to get to work together,” explains Jarkko Danska, Investment Director at Midinvest Management.
The University of Jyväskylä plays an important role in business development
“Secapp is a great example of the kinds of growth and international companies that can emerge from the research work being done at the University of Jyväskylä. The university has an important role in the business ecosystem of Central Finland. We are enthusiastic and proud to be a part of the story of Secapp’s growth and we believe they have every opportunity to grow into a major success story,” says Danska.
The company, which got its start in 2011 as a research project at the University of Jyväskylä, currently employs over 40 people in Europe. The solution Secapp offers helps more than 100,000 professionals in 600 organizations across 12 different countries to save lives in times of crisis. Secapp strengthened its growth even further in autumn 2021 with 750,000 euros in growth financing from Nordea.
Midinvest Oy is a private equity fund managed by Midinvest Management Oy. The fund was established in 1994 and, throughout its history has invested 20 million euros in over 70 companies in Central Finland in their early and later stages of development. www.midinvest.fi
CEO, Secapp Oy
+358 50 406 3028
Investment Director, Midinvestment Management Oy
+358 40 531 0093