Profit Software Oy, a producer and supplier of web-based software products that allow Northern Europe’s insurers to manage all their services, business lines and processes, will receive an investment from private equity firm CapMan.
The aim of the investment, made through the CapMan Technology 2007 fund, is to support Profit Software’s expansion into additional European markets.
The investment, which is expected to take place before the end of December 2009, will allow the CapMan Technology 2007 fund to hold approximately 34% of the company, with the rest owned by the company’s management and employees.
Founded in 1992, Profit Software has served more than 40 clients in nine countries. The company today has approximately 120 employees located in its headquarters in Helsinki, Finland, and subsidiaries in Tallinn, Estonia, and Warsaw, Poland.