Standout Capital said it was investing in accounts payable automation firm SignUp Software, taking a minority stake in the company, but did not unveil the size of the investment.
The Swedish software company — founded by Göran Garvner and Henrik Garvner back in 1999 — has over 1,000 customers globally and has experienced solid growth, not least in the US, it said.
SignUp Software has 75 employees based in Sweden, Denmark and Australia and a large network of Microsoft partners and distributors across the globe.
“We are in a great position to continue to provide excellent value to our existing and new customers and with increasing demand to scale up our operations,” said Henrik Garvner, CEO SignUp Software.
“We have followed SignUp Software’s impressive growth since we first met four years ago and are pleased to finally get a chance to partner with the founders and the rest of the highly talented team at SignUp Software. We have seen the Microsoft Dynamics ecosystem go from strength to strength and Independent Software Vendors (ISVs) such as SignUp Software are an important part of that ecosystem’s success,” said Erik Wästlund, co-founder Standout Capital, who will join SignUp’s board.