Tempo, a Reykjavik, Iceland-based provider of productivity-enhancing project management solutions, received an investment from Diversis Capital.
The amount of the deal was not disclosed.
Diversis will become a new strategic owner with a controlling interest in the company. Former owner and founder, Origo, will retain a 45% stake in Tempo.
Diversis plans to accelerate growth of the company along with Origo. The immediate focus will be international growth, continued investment in R&D, improved customer service and additional product diversification.
Led by Agust Einarsson, CEO, Tempo provides a software suite for time tracking, resource management and budgeting. The company enables organizations to plan, optimize, and manage resources as well as budget and track project costs, and report time for team efficiency.
The company has over 12,000 customers worldwide, ranging from small startups to the largest global enterprises including Amazon, BMW, Pfizer, HomeAway, PayPal, Hulu, Dell, and Disney.