Documaster

Company details

Year Aquired

2017

Location

Norway

Revenue (2020)

83 mSEK

Sector

SaaS, Records Management, Big Data

Employees

98

Investment Themes

Tech-Enabled Transformation

Contact

If you want to know more about Documaster please contact Gisle Glück Evensen at: gisle.gluck.evensen@summaequity.com

Documaster at a glance

Documaster is a Norwegian digital information management company, with core competence in digitization, compliant information management and cloud-based archiving of valuable data. The company offers solutions that enable organizations to capture, process, preserve and easily access data through a system-agnostic archiving core, compliant with EU and local regulations. Documaster was founded in 2014 after several years of product development, together with the incubator Norselab.

 

Key developments in 2021

Documaster ended 2021 with ~70m NOK in contracted annual recurring revenues (CARR) up from ~40m NOK in 2020. The strong growth was driven partly by organic growth (~45% growth), but also by the consolidation of Comprima AB and Infoworker AS into the Documaster Group. The two add-on's mark Documaster's two first significant acquisitions and support the strong Scandinavian footprint. Furthermore, Documaster closed a major tender named BOTT during August 2021, representing CARR of above NOK 6m, a significant milestone for the company, manifesting the position in public sector Norway.

Impact Dimensions

The challenges we face

Insufficient data management is a source of great loss for business and society. Unless information is properly digitally archived and processed, public and private organizations will suffer from data privacy issues, corruption, threats to democratic processes, and resource inefficiency. For example, between 2011 and 2016 the NHS lost 500,000 pieces of patient data (including blood tests and diagnoses) because they got stored in a warehouse.

The recovery effort has cost the UK taxpayers over GBP 2.2m, with potentially life endangering diagnosis errors and delays. The 2019 Verizon Data Breach Investigations Report found that of 17,310 data incidents, nearly 20% were related to data loss, the second highest category after Denial of Service attacks.

$10k to
$m
cost range per hour of downtime, depending on the size of the organization.2 Downtime can be caused by data loss as well as other factors.
>%
of data breach cases involve data mishandling³

The challenges we face

Insufficient data management is a potential source of great loss for business and society. Unless information is properly digitally archived and processed, public and private organizations will suffer from data privacy issues, corruption, threats to democratic processes and inefficiency. For example, between 2011 and 2016 the NHS lost 500 000 pieces of patient data (including blood tests and diagnoses) due to improper storage¹. The recovery effort cost UK taxpayers over GBP 2.2m, with potentially life-threatening diagnosis errors and delays.

 

What is the outcome?

With Documaster, public and private organizations can ensure regulatory compliance, security and transparency, and minimize the most severe risks of data loss and strengthen democracies. Modern information management will minimize loss of data and empower organizations to overcome the challenges associated with e.g. remote work, crossteam and inter-organizational collaboration.

 

Who are the stakeholders?

~80% of Documaster’s ARR base is currently public sector. Citizens in a municipality or state using Documaster will benefit from less risk of sensitive data loss, more efficient government functions, and increased security and transparency. Organizations, both public and private, can spend fewer resources on archiving and continuity – while remaining compliant with regulations.

 

How big is the effect, and does it last?

Documaster has more than 500 customers who currently subscribe to ~3 data sources each. Subscribers can rest assured that even 1 000 years from now, researchers can understand what happened in the organizations of today and access public data.

 

If Documaster didn’t exist…

Without Documaster, customers would have to turn to less secure, more labor-intensive, and opaque legacy systems – or maintain paper archives, which is often still the case. Paper archiving is a liability in terms of data loss, privacy concerns, security issues and lack of compliance. Privacy laws like GDPR are harder to comply with in the absence of digital information management.

 

Impact risk: what can go wrong?

Documaster manages sensitive data. As such, data privacy and security are of paramount importance and must be safeguarded. Documaster invests considerable amounts of capital and effort to counter these risks and is the de-facto disruptor in an industry of legacy incumbents.

Year Aquired

2017

Revenue (2021)

83 mSEK

Employees

98

Investment Themes

Tech-Enabled Transformation

Sector

SaaS, Records Management, Big Data

Location

Norway

Contact

If you want to know more about Documaster please contact Gisle Glück Evensen at: gisle.gluck.evensen@summaequity.com

Website

Video

SDG Alignment
SDG Wheel
SDG 8
SDG 16
KPI reporting
SDG 8

REVENUE (SEKm)

2021
+12%
83
2020
74
2019
24
SDG 16

PUBLIC SECTOR CUSTOMERS

2021
+19%
347
2020
292
2019
236
SDG 8

Private Sector Customers

2021
+88%
30
2020
16
2019
12
SDG 16

DATA SOURCES PER CUSTOMER

2021
+4%
2.9
2020
2.9
2019
2