Queue-it, a global leader of virtual waiting room software and services, last week announced that GRO Capital has become a new majority shareholder and provide further capital into the Company to accelerate growth.
Queue-it is headquartered in Copenhagen with over 85 employees across offices in Copenhagen as well as in Minneapolis and Sydney.
“Throughout Queue-it’s journey we have felt strongly about proving that it is indeed possible to grow a company with a Danish foundation, so this was also important in our evaluation of potential investment partners and we are very happy that we are able to partner with such a strong local fund to boost our future growth.” said Niels Henrik Sodemann, CEO and Co-founder of Queue-it
Queue-it is a SaaS that provides a virtual waiting room that online enterprises use to manage end-user inflows to prevent overloading websites and apps, which would otherwise crash or slow down. The excess users are offloaded and placed in an orderly queue, which operates on a first-in-first-out principle to fairly manage the excess users.
The demand for Queue-it’s SaaS has been increasing globally along with customer awareness of potential solutions to manage web performance challenges, and the startup has grown revenues at a compounded annual growth rate of approximately 40% for the last 4 years.
“GRO brings a unique combination of competencies that will support our international expansion. The need for web performance solutions is rapidly increasing across markets as more and more online activities happen in peaks, which is exactly what our SaaS is built for.”
GRO Capital is a North European private equity fund with an exclusive focus on mature B2B software and tech. They serve as active owners developing portfolio companies with a view to create long-term value. Queue-it is the third investment in GRO Fund II, a fund with a strategy to accelerate Northern European software companies. With GROs investment it was also announced that the previous investors have exited the company.