Leading IP-telephony operator in the Norwegian business segment

Phonect is a market leading provider of internet-based telecommunications services to the Norwegian SMB market and one of the largest manufacturers of IP telephony to the enterprise market. Launched in 2013 a unified communication solution that integrates all communications (voice, video, instant messaging and presence information) and collaborative services (file sharing, telephone and video conferencing) into one easy to use service that works across all platforms (tablet, PC, mobile phone).

Key developments since our investment:

  • Professionalized the VoIP service
  • Established Phonect as the larges provider of VoIP to the Norwegian SMB market.
  • Developed a broad customer portfolio across telephony-intensive segments.
  • Acquired and integrated a number of smaller customer portfolios.
  • Achieved a 3.3x revenue growth to above €10 million while company turned cash flow positive and a doubling of gross margins.
  • Raised growth capital from new institutional-based investor.
  • Developed and launched first version of a Unified Communication as a Service (UCaaS) solution.
  • Initiated a refocusing of the business towards an integrated UCaaS provider.
  • Attracted a new CEO and built an entirely new senior management team
  • Strengthened the board with independendt industry experts


Transferred management to new fund manager in July 2014

Responsible partner: Åsgeir Nord 2006-2013; Jens Petter Falck 2013-2014
Co-investor: Storebrand