Nordic Capital partly acquires Boost.ai

Shareholders Finstart Nordic and Alliance Venture will continue as investors alongside Nordic Capital.

Norwegian business daily Dagens Næringsliv reported that the GP will acquire almost 50% of Boost via a share purchase.

According to the publication, Nordic Capital will contribute significant funds over the next few years to facilitate the company's growth, and that a future IPO was possible.

The GP will also help the company's expansion into new markets.

Following the deal, founder and CEO Lars Ropeid Selsås will continue in his position, and co-founder Henry Vaage Iversen will continue as chief commercial officer.

Company
Founded in 2016 and based in Stavanger, Boost is a B2B provider of AI-enabled chatbots to companies to help them automate customer service, support and sales.

At the end of 2020, the company had annual recurring revenues of around NOK 100m (€9.8m). It has satellite offices in Oslo, Stockholm and Santa Monica, and employs more than 100 employees.

People
Boost.ai – Lars Selsås (founder, CEO).
Nordic Capital – Jess Tropp (principal).

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• Topics
• Expansion
• Nordics
• Technology
• Nordic Capital
• Norway
• Alliance Venture