Investment in next-gen application shielding software
Promon to receive strategic investment from GRO Capital, Kirk Kapital and Trifork to fuel growth and build global app shield leader
OSLO, NORWAY – On 28 December 2021, Promon AS, a leading provider of application shielding software, announced that it will partner with GRO Capital, Kirk Kapital and Trifork to accelerate global growth and cement the Company’s industry leadership position.
The GRO consortium becomes a majority investor in the Company to enhance sales and marketing efforts, fuel continued product innovation, as well as expand across industry verticals on a global scale.
Since 2006, Promon has been a pioneer within application shielding software and has acquired +250 customers and +25 strategic partners globally, with offices in Norway, Germany, UK, US, Hong Kong, and India.
Gustaf Sahlman, CEO of Promon, said: “We are very excited about partnering with GRO Capital and Kirk Kapital to invest in our scaling journey and capitalize on our highly differentiated technology.”
Maxwell Veyhe, Partner at GRO Capital, said: “The management team has created a highly scalable, next-gen security software platform for the application universe, which today more than ever is highly vulnerable to security threats.”
Kim Gulstad, CEO of Kirk Kapital, said: “Our investment in Promon, together with GRO Capital, is a testimony of Kirk Kapital’s strategy of teaming up with strong and competent partners, who we believe can deliver sustainable value creation.”
Jørn Larsen, CEO of Trifork Group, said: “We are very pleased to invest in Promon together with GRO Capital and Kirk Kapital. Trifork is already active in the fast-growing cyber protection market and impressed by Promon’s unique app shielding technology.”
About Promon
Based in Oslo, Norway, Promon has been a pioneer within application security and has delivered world-leading security software to many of the largest banks around the globe. Promon’s patented deep protection technology Promon SHIELD™ is protecting apps used by hundreds of millions of users.
About GRO Capital
GRO Capital is a leading North European private equity fund with an exclusive focus on mature B2B software and tech enabled companies with strong growth prospects. GRO Capital has approximately EUR 430m in AUM.
About Trifork
Trifork is a global NextGen IT company that develops innovative software solutions in collaboration with its customers. The company has more than 1,000 employees, across 57 business units, with offices in 11 countries in Europe and the USA.