May 2026
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Largest B2B SaaS Public Companies in Sweden
Benchmark revenue and EBITDA valuation multiples for public comps like
Hexagon, Sinch, Vitec Software, RaySearch Labs and Addnode Group.
 | Hexagon is the global leader in digital reality solutions, combining hardware such as sensors and measuring devices, software, and services. Customers are mainly in heavy industry such as oil and gas, mining, construction, manufacturing, chemicals, and agriculture. Major products include measuring technology, mapping tools, and software. Around 40% of revenue is generated in the Americas, 35% in Europe, the Middle East, and Africa, and the rest in Asia. | $10 | -8% | $26B | $27B | 4.2x | 11.6x | ||
| Sinch AB provides cloud communication services and solutions to enterprises and mobile operators. The operating segments are Americas, EMEA, and APAC. The Americas region includes both North and Latin America, with the U.S. and Brazil being the contributing countries. The EMEA operating segment serves Sinch customers across Europe, the Middle East, and Africa, with the contributing countries being the UK and France. The APAC operating segment serves Sinch customers throughout the Asia-Pacific region, with India and Australia as the contributing countries. | $4 | +48% | $3B | $4B | 1.2x | 9.9x | ||
| Vitec Software Group AB is a software company in Vertical Market Software in the Nordic region. The company provides software for the pharmacy market, automotive and machine industry, banks and insurance companies, healthcare companies, real estate agents, and the education sector. Its segments comprise Auto, Energy, Real Estate, Finance and insurance, Environment, Estate Agents, and Education and health. | $30 | -36% | $1B | $1B | 3.7x | 9.3x | ||
| RaySearch Laboratories AB is a Sweden-based medical technology company. The company develops advanced software solutions for improved cancer treatment. The company develops and markets the RayStation* treatment planning system and RayCare* oncology information system to clinics all over the world and distributes products through licensing agreements with medical technology companies. Its geographic segments consist of Sweden, North America, Asia Pacific, Europe and the rest of the world. | $23 | -29% | $805M | $798M | 5.3x | 12.1x | ||
| Addnode Group AB is a supplier of software and services for design, construction, and product data information clients in Sweden. Its operations are divided into three business divisions: The Design Management business, which accounts for the maximum share of revenue; The Product Lifecycle Management (PLM) and The Process Management business. The company has operations in Sweden, the UK, the USA and Germany. | $5 | -53% | $712M | $952M | 1.5x | 8.2x | ||
| Smart Eye AB is engaged in developing and marketing eye-tracking technology that can measure, calculate, and predict where a person is looking. The company’s eye-tracking technology and iMotions biosensor software platform are also used in behavioral research to enable research in academic and commercial sectors. | $10 | +29% | $371M | $402M | 9.0x | 724.7x | ||
| Verve Group SE operates a fast-growing ad-software platform that matches advertiser demand with publisher ad-supply while improving results through first party data from own games. Verve’s main operational presence is in North America and Europe. The Company offering an ad software platform that helps advertisers acquire customers via smartphones, computers, connected TV or digital third-party media, and publishers monetize their ad space. The Company distributes through subsidiaries, and trades data, consoles, mobile games and video games, such as distributor, licensees and developers, to consumers and affiliates and provides platforms for such games, conduct media activities for advertisers, publishers and other related platforms. | $2 | -50% | $368M | $858M | 1.3x | 5.5x | ||
| Proact IT Group AB is a European-based independent datacentre and cloud service provider. The company's solution covers all aspects of data storage, virtualization, networking, and security. Its operating segments are System sales, Service operations, and Other revenue. The company-managed cloud services include service management, software as a service, proactive hybrid cloud, storage as a service, flexpod as a service, and disaster recovery services. It also offers professional services such as delivering transformation, project management and delivery, cloud adoption, and others. The majority of the company's revenue comes from the Nordics and Baltics region. | $15 | +15% | $366M | $364M | 0.7x | 6.9x | ||
| Lime Technologies AB is a software as a service company. The company develops, sells, and implements user-friendly and flexible CRM systems. Its business model is based on the offering of subscription agreements as well as consulting services for the implementation and continuous adaptation of the company's products. | $24 | -44% | $322M | $334M | 4.0x | 13.1x | ||
| Cint Group AB is engaged in digital insights gathering of consumer insights. The software platform helps its customer segments in two ways. For its established insight company segment, it digitalizes the insights-gathering process and for the tech-enabled business segment, it provides unprecedented audience scale. | $1 | -21% | $219M | $207M | 1.2x | 4.4x | ||
| Enea AB is a supplier of software components for telecommunications and cybersecurity. The firm's focus areas are cloud-native, 5G-ready products for the mobile core, network virtualization, and traffic intelligence. More than 4.5 billion people rely on Enea technologies in their daily lives while using mobile phones and connecting to the internet. The company earns revenue by rendering services like Licensesing service, Support & maintenance services, and Professional services. It has a geographical presence in Sweden, Finland, USA, Americas, EMEA excluding Sweden, and Asia. | $10 | +35% | $183M | $214M | 2.1x | 6.7x | ||
| Net Insight AB develops and sells solutions for efficient and reliable real-time transport of media content and time synchronization. Revenue is generated through hardware sales, software licensing, and subscription & support agreements. Within media transport, the company serves service providers, broadcasters, production companies, and rights holders. In the time synchronization business, customers include telecom operators and service providers of 5G networks utilizing Time Division Duplex (TDD) for data transmission, critical infrastructure networks, organizations requiring reliable time and positioning services, as well as utility companies and power grids. Sales are conducted in EMEA, the Americas, and APAC through direct sales and partnerships with resellers and integrators. | $0 | +24% | $150M | $143M | 2.5x | 14.1x | ||
| Micro Systemation AB is engaged in product development, production, and sales of solutions within the area of mobile digital forensics. It provides software products to extract, analyse and present data from digital devices, predominantly mobile phones. The company has three main product families: XRY, XAMN, and XEC. The products are used mainly by police, military, and intelligence agencies and are effective tools for securing evidence. | $8 | +54% | $148M | $140M | 2.8x | 15.8x | ||
| Briox AB is a SaaS company. The company offers solutions to manage the smallest businesses finances. The solutions are being sold online and through Accounting Agencies and Accountants. Briox software connects the Accountant with the business owner, and the customers are to be found within multiple industries with a focus on the service segment. Its software is available in Finland, Estonia, Latvia and Lithuania. | $2 | +173% | $146M | $144M | 85.4x | (116.5x) | ||
| Formpipe Software AB is a Swedish software company within the Content Services market. The business relies on two cornerstones with strong offerings to customers in both the public and private sectors. With the mission to build valuable relationship between data and people, the company is providing Software as a Service (SaaS), specializing in customer communication, cases and documents, and the automation of information-intense business processes. Formpipe has offices in Sweden, Denmark, the UK, the U.S. and Germany. | $2 | -23% | $118M | $31M | 0.9x | 10.1x | ||
| Advenica AB is a Sweden based company involved in providing cyber security solutions in the areas of National Security, Public sector, Critical infrastructure, and Corporate. The product offerings of the company include Data Diodes, ZoneGuard, SecuriRAM, File Security Screener and Secure Remote Access among others. | $2 | -1% | $109M | $102M | 4.5x | 27.8x | ||
| InfraCom Group AB owns, operates and develops cloud-based IT (information technology) services. Its business activities are divided into four divisions including cloud-based telephony, cloud-based IT operations, hosting and data communications and internet access. The Cloud-based Telephony business area offers a broad spectrum of Cloud-based telephony services through the proprietary Weblink Unified 2.0 platform. Cloud-based IT operations connect IT infrastructure as a service and offer customers login and control through a web portal. Hosting offers InfraCom infrastructure for server and data management. Data communication and Internet access offer connections to the Internet between geographical locations and premises. | $2 | -10% | $72M | $69M | 0.8x | 2.6x | ||
| Done.ai Group AB offers an integrated suite of AI-powered tools that span the full operational workflow. Its modular, API-first architecture, businesses can manage their entire value chain, from first customer touchpoint to back-end accounting, fully integrated in one automated, end-to-end platform. | $1 | -35% | $71M | $77M | 3.0x | (16.6x) | ||
| BIMobject AB is a provider digital content management system for BIM objects. The company's solutions help manufacturers to develop, host, maintain, syndicate and publicise digital replicas of manufactured products - BIM objects. Its products include BIMobject API, BIMobject EVO, Object Creation & Process, BIMsupply, BIMobject Marketing Campaign, BIMscript, BIMobject Mosquito and BIMobject Cloud, among others. | $0 | -40% | $70M | $53M | 3.0x | (9.5x) | ||
| Adtraction Group AB is a full-service partner marketing platform, helping brands across multiple industries attract new customers, while helping partners monetise content and traffic. With a user-friendly platform, Adtraction connects brands with a diverse range of marketing partners, ranging from content sites, influencers, affiliates, mobile apps and comparison sites. | $4 | +34% | $69M | $55M | 0.4x | 9.1x | ||
| Generic Sweden AB is a technology company providing high-tech messaging services for all applications. The company offers a platform for digital communication services that can be integrated into customers' internal or external communication flow. The services are provided through a Communication Platform as a Service (CPaaS) model. Generic's customers are found in all areas and with a special position in alarms and security, care and e-health as well as e-commerce and logistics. | $4 | -31% | $54M | $48M | 2.3x | 10.7x | ||
| Upsales Technology AB is a Sweden based software company. It provides sales and marketing platform for B2B companies. The company provides Marketing solutions such as Marketing Automation, Lead scoring, Website Tracking and Event Marketing among others. It also provides with Sales and Analytics services to various companies. | $3 | +2% | $51M | $47M | 2.8x | 10.8x | ||
| Opter AB is a modern transport management system for the entire process from orders and transport planning to invoicing and settlement. | $8 | -24% | $50M | $47M | 4.4x | 17.3x | ||
| Mentice AB is engaged in the provision of software and hardware simulation solutions for endovascular therapies. Its solutions help healthcare professionals acquire, retain, and enhance their procedural skills driving improved productivity and outcomes. It operates through three segments: Mentice VIST, Physical Sim, and Ankyras. Geographically majority of the revenue is generated from the Americas, then followed by EMEA. | $2 | -19% | $46M | $42M | 1.4x | 88.9x | ||
| TradeDoubler AB is a Sweden based performance marketing company. It helps clients grow their online sales and find new customers for their businesses and help an expanding network of online publishers monetize their websites. Tradedoubler offers a portfolio of performance marketing solutions that enable advertisers to enhance measure and track the return on their digital marketing. The segments include the following markets: Germany and Switzerland (DACH), France and the Netherlands (France & Benelux), Sweden, Norway, Denmark, Finland, and Poland (Nordics), Italy, Brazil, and Spain (South). Additionally, the UK is grouped under UK & Ireland.. The company derives a majority of revenue from Nordics segment. | $1 | +9% | $41M | $40M | 0.2x | 4.0x | ||
| Nord Insuretech Group AB is a operator of digital platform. It delivers next-generation integrated insurance in the Nordic region. The company distributes its services through partners who can then sell various insurance products to end customers through the company's digital platform. | $0 | +166% | $32M | $32M | 68.8x | (14.7x) | ||
| Terranet AB develops software for radio-based solutions and three-dimensional image analysis for driver-assistance systems and autonomous vehicles (ADAS and AV). It is pioneering breakthrough safety technology for the ADAS and AV industries in Lund, Sweden, and its development sites in Kiev, Ukraine, and Stuttgart, Germany. | $0 | +29% | $31M | $29M | — | (6.5x) | ||
| ContextVision AB is a medical technology company. It develops and sells image enhancement software for medical diagnosis and artificial intelligence. Its product portfolio includes image enhancement software for 2D/3D/4D (dimensional) ultrasound, magnetic resonance imaging (MRI), X-Ray, radiography, and mammography. its geographical segments are Asia, Europe, and America. | $0 | -26% | $28M | $22M | 1.8x | 9.3x | ||
| Binero Group AB is a Swedish provider of open, secure and sustainable cloud services. With data centres in Sweden and a total focus on control, the company offers a cloud platform that meets both European and national requirements. Its product and service portfolio offers, among other things, digital media distribution, project management of network services, Swedish cloud and container services, climate-certified server operation and consulting services. | $0 | -19% | $28M | $31M | 0.6x | 63.7x | ||
| Crunchfish AB is a technical pioneer in digital payment with a patent-pending Digital Cash solution that uses a two-step payment process, first clearing offline followed by online settlement. This makes digital payment robust and independent of the network. Crunchfish digital cash wallet is exceptionally flexible and can be used with all types of payment solutions. It delivers the properties of cash, such as immediate clearing, offline payments and preservation of the payer's integrity, without requiring any changes to the central or commercial banking infrastructures. The company has also developed Blippit, an app terminal that connects to cash register systems for both online and offline payments and has a patent-pending solution to reduce food waste. | $0 | +44% | $27M | $26M | 327.3x | (13.1x) | ||
| Neovici Holding AB (publ) Co is engaged in providing automated financial services through a SaaS model (Software-as-a-Service). It develop, sell and implement a cloud-based platform for financial automation. The company operates in the Nordic region and in Latin America. | $1 | -44% | $26M | $25M | 1.8x | 266.4x | ||
| Litium AB develops, sells and delivers products and cloud services that help companies accelerate sales and strengthen customer relationships online. The company provides a solution to industries such as B2B, retail and E-Tailer. Company includes digital e-commerce platform for brands aspiring to online excellence. It empower companies in both B2B and B2C to drive sales of products, deliver excellent customer experiences and scale rapidly to all channels and all markets. | $1 | +24% | $25M | $25M | 2.7x | 13.2x | ||
| CodeMill AB is a technology company that offers software development and technical services for video and media companies. The company's products include Accurate Player SDK, Accurate Video and Cantemo, as well as the product service, Digital Service, enable the streamlining of video and film production and distribution, from editing to archiving. Codemill has framework agreements with some of the world's key media companies such as Amazon Studios. | $2 | -11% | $23M | $19M | 2.7x | 11.2x | ||
| Bambuser AB provides technology for interactive mobile live video streaming. Its technology platform Iris enables app developers to incorporate live video broadcasting in their applications via a suite of SDKs, APIs and libraries for multiple platforms. The company provides solution through news, media, social apps, drones, live events. | $3 | +106% | $22M | $11M | 1.2x | (1.2x) | ||
| Teneo AI AB is at the forefront of AI-driven automation for voice and text-based customer service. The Teneo platform leverages cutting-edge Conversational AI, Generative AI, and Large Language Models to enhance the efficiency and effectiveness of customer interactions. The company simplify Voice AI integration, ensuring a seamless experience that reduces losses in automated conversations and maximizes the value of existing technology investments. | $0 | -33% | $21M | $52M | 5.6x | (19.0x) | ||
| Greater Than AB is a driving data analytics company that uses artificial intelligence to convert GPS data into driver scores that predict crash probability and climate impact. Insurance companies, underwriters, fleet solution providers, mobility providers and other owners of GPS data use Greater Than’s analysis to optimize driver risk management, achieve insurance profitability, manage sustainability and ESG reporting, and monetize GPS data. | $1 | -62% | $18M | $15M | 23.9x | (3.4x) | ||
| Safeture AB is a Software as a Service (SaaS) company based in Sweden. The company offers a technology platform for partners and their customers, enabling them to improve the personal safety and security of individuals, companies and organizations regardless of their location. Safeture's platform is sold through partners who have solutions for security or medical assistance, or through an insurance company where assistance is part of the insurance offering. A typical end customer is a large international company that purchases annual licenses to Safeture's platform together with assistance from one of Safeture's partners. | $0 | -36% | $16M | $14M | 2.2x | 16.8x | ||
| OODA AI AB (publ) is a corporate group focused on Software-as-a-Service (SaaS) and Artificial Intelligence (AI), particularly in the areas of Business Intelligence (BI) and Data Security (GDPR). | $4 | -35% | $16M | $16M | 4.6x | (1.3x) | ||
| Nowonomics AB is a savings platform whose purpose is to help the user to manage the personal finances. It aims to promote savings before retirement and therefore develops its own tools and solutions together with partners to simplify, educate and help members to have a accessible financial solutions. | $1 | +47% | $15M | $15M | 8.6x | (13.6x) | ||
| Klimator AB is engaged in the business of software. Its technology forecasts about current and upcoming road weather for the entire road network. The company's forecasts make it possible for the winter road industry to make decisions about snow removal and de-icing. | $0 | +49% | $13M | $14M | 3.5x | 51.0x | ||
| eEducation Albert AB is an application-based education platform for children. The company develops and sells edtech products for schools and consumers. The product portfolio of the company includes educational apps, educational videos, and physical learning products under the brands Albert, Jaramba, Holy Owly, Film & Skola, Strawbees, and Sumdog. | $0 | +18% | $11M | $5M | 0.3x | 11.2x | ||
| Amido AB is a web-based platform where real estate companies can manage their passage systems, laundry bookings and digital key cabinets. It is integrated with several suppliers for inputs, such as RCO, Assa ARX and Aptus, which means that the customer only needs to use a system for handling all their digital tags. | $0 | -26% | $10M | $9M | 2.1x | 17.7x | ||
| ChargePanel AB (publ) specializes in technologies for the operation of electric vehicle charge points and driver applications. The company provides a SaaS platform for EV Charging Network Management and specializes in technologies for the operation of Electric Vehicle Charge Points and Driver Applications. | $0 | +46% | $8M | $8M | 7.4x | (7.6x) | ||
| SpectrumOne AB is a Big Data Management Platform. It has offices in Sweden, Norway, and Belgium. | $0 | -38% | $7M | $9M | 24.6x | 14.4x | ||
| Synthetic MR AB develops software solutions for Magnetic Resonance Imaging that support shorter exam times and deliver more information to the clinician. Its product is available in different packages. SyMRI IMAGE provides high MRI workflows and enables automatic segmentation of brain tissue, providing objective decision support, MAGiC is a customer-specific version of SyMRI IMAGE marketed and sold by GE Healthcare under a license agreement, SyMRI NEURO includes contrast images, biomarker segmentation, volumetric measurements of brain tissues and quantitative parametric maps, and SyMRI Research Edition includes contrast images, volumetric measurements and quantitative maps to provide more information to the researcher. | $0 | -74% | $7M | $4M | 0.6x | (1.2x) | ||
| Flowscape Technology AB is engaged in developing software to connect people and manage communications for responsible authorities and operators of critical environments and industry. Its product portfolio includes Room, Desk, Colleague, Equipment Finder, Housekeeper, and Flow Manager. The company devices include a billboard, a smartphone, a desktop, an Outlook plugin, and a room panel. | $0 | +10% | $7M | $6M | 1.3x | 5.2x | ||
| BrightBid Group AB is an AdTech company. The company's AdTech services help e-merchants get traffic through the AI-based SaaS service Bidbrain.com. The solutions offered by the company are AI-Fused PPC Automation, AI Optimization for Google Shopping Ads, Sell Amazon Products on Google Shopping, AI-Powered Ad Reporting, Competitor Ad Monitoring, Brand Protection, and others. | $0 | -39% | $7M | $7M | 1.7x | (3.1x) | ||
| Kontigo Care AB is a Sweden based company involved in offering a cloud-based platform with artificial intelligence (AI) and predictive capabilities. Its Kontigo Care platform has predictive capabilities, which means that a relapse can be identified early and, in some cases, completely prevented. | $0 | -- | $6M | $4M | 1.3x | 10.2x | ||
| Adverty AB is engaged in the development and operation of advertising solutions for Virtual Reality and Augmented Reality and related business. | $0 | +9% | $5M | $7M | 1.9x | (13.5x) | ||
| Compodium International AB is a technology company active in secure digital communication. The company's main focus is mainly on the so-called premium segment, where the customer places high demands on information technology security and meeting integrity. | $1 | -11% | $5M | $5M | 1.0x | 5.1x | ||
| Tourn International AB is a SaaS company in social media whose operations consist of four business units Agency, Nagato, World TOURN ASA and TOURN Labs. Agency an IT-driven influencer agency where the company helps both brands and other agencies to manage and structure their influencer marketing. Nagato is Tourn's own, fast-growing, YouTube network where Youtubers get help with everything related to their channel, from optimizing content to monetizing and administering the channel. | $1 | -14% | $5M | $5M | 0.8x | (26.5x) | ||
| Thinc Collective AB is a Swedish software as a service company that develops event management systems. The group offers a group of companies within systems, communication and structure. The companies thinks up and implements ideas for its customers. Its areas of expertise range from data, analysis, technology development, SaaS systems for communication, media, PR, brand experience and financial information. The group targets customers regardless of industry with a need for coherent communication. Thinc Collective operates within the Nordic region. | $0 | +60% | $4M | $7M | 0.2x | 4.9x | ||
| Comintelli AB is a Swedish software company. It offers intelligence software name Intelligence2day that automatically collects, discovers, organizes, analyzes and shares information and knowledge; focused on any aspect of the competitive landscape including customers, competitors, products, markets, technologies and trends. The software supports managers and knowledge workers in both strategical and tactical decision making; it also shortens Time-To-Insights which accelerates business, product innovations and business development. The company also offers services related to the software including managed hosting services, training, technical installation and support and maintenance services. | $0 | -5% | $4M | $3M | 1.1x | (6.9x) | ||
| Aino Health AB provides corporate health management solutions. The company has developed a complete system of IT-based services with a focus on improving corporate health and reducing sickness absence levels in private and public organizations. Its solution consists of HealthManager, HealthDesk, and Consulting services. Company SaaS platform combines advance data analytics, research-based insights, and AI to empower leaders to unlock the full potential of their teams and to foster a healthier, more sustainable work environment. | $0 | -33% | $3M | $4M | 1.3x | (14.2x) | ||
| Transiro Holding AB, formerly Transiro Int AB provides cloud-based services for the transportation industry. The company products and services include Bus and consulting services. It generates resources from Sweden, India, Indonesia, Philippines and Russia. | $0 | -26% | $2M | $1M | 0.5x | 0.4x | ||
| Sociallite US AB is engaged in lead generation and digital products business. It specializes in lead generation and performance-based online marketing, where the company's plan is to acquire companies and technical platforms in the segment. | $0 | +1% | $743K | $742K | 4.4x | 6.2x | ||
| Median | $1 | -11% | $28M | $30M | 2.1x | 6.8x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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