Amp Eleven partners with a select group of Nordic consulting companies to form a next-generation “house of brands” consulting ecosystem
The Nordic investment company Amp Eleven launches consulting ecosystem born {digital} (Born Digital AB). Already at inception, born {digital} consists of ten technology-oriented consulting companies with nearly 400 employees. The plan is to invest more than 300 million Swedish kroner and invest in 20-30 Nordic consulting companies over the next 3 years.
Both small and big at the same time
Our ambition is to combine the best of two worlds - keep the advantages of being small and agile, while being a part of something larger with the benefits this includes. We are not building another big company, but rather an ecosystem - a family, comments Henrik Lie-Nielsen, Board Chairman of Born Digital
With approximately 400 experts across ten companies, Born Digital aims to become a significant Nordic player challenging the traditional consulting companies. The Born Digital companies provide a wide range of services within consulting services, and have expertise in areas such as UX, design and marketing, software development, cyber security, and AI as well as strategy and IT management consulting. The total estimated revenue in 2023 for the current born {digital} companies is approximately 380 million SEK, representing a growth of more than 30% from 2022.
Entrepreneurship as the driving force
All of the consulting companies Born Digital is co-owner for and will invest in are founded and led by entrepreneurs with high ambitions and drive to further develop their respective companies. Within the ecosystem, collaboration provides increased opportunities to reach new customers, attract talent, and learn from one another - enabling faster and more profitable growth.
All companies retain their respective brands, identities and unique culture. Born Digital believes the culture within the companies is crucial for attracting both customers and talent and it is therefore of utmost importance to retain this in each company. "Don't mess with what works" is one of the key principles of Born Digital, and the primary goal is to help the companies succeed in delivering on their respective business development plans.
We believe that future talents want to work for smaller companies with a flat structure and less bureaucracy, where individuals have the opportunity to make a greater impact. "One size does not fit all," and therefore, we prefer to be a part of an ecosystem with many smaller, niche expert companies with their unique characteristics, culture, and expertise, comments Stefan Trailovic, CEO of QueensLab (one of the founding companies in Born Digital)
Today, there are few alternatives for entrepreneurs of consulting companies who do not want to sell out completely. Traditionally, this type of acquisition has involved a larger player buying the entire company, which means having to change the name and brand, as well as spending time integrating the company into existing culture, structures, and processes.
Born Digital offers an alternative for ambitious entrepreneurs who want to continue developing their company while partially realizing some of the value they have built over time. They retain a significant ownership stake in their company while participating in future upside both through Born Digital and through the growth of their own company, says Lie-Nielsen.
People and culture as the winning recipe for born digital companies
Consulting is by definition a people-business where relationships and networks are one of the most important factors for success. A shared value for all the companies in the Born Digital ecosystem is that the most successful consulting companies are the ones who have the courage to care about their people and their clients. Both founders and the more than 400 people in the ecosystem represent a wide variety of competences and backgrounds fueling the collective strength of Born Digital as a ecosystem of professional services providers in the Nordic market
“We believe that long-term success for organizations is created when the corporate culture is characterized by trust and compassion. This has been MUM's strategy from the beginning, and we are pleased to see similar inclusive values among our colleagues at Born Digital,”, says Ulrika Oskarsson, CEO of MUM Group (one of the founding companies in born {digital})
Heading towards SEK 1,5 billion revenue
Born {digital} consists of consulting companies, each with its unique brand, service offerings, and market. Common to all the companies is that they provide services within IT and technology or have a technology-driven focus on business development; hence the name "born digital."
The ambition is to continue growing both organically and through acquisitions, bringing together 20-30 outstanding companies under the born umbrella within 3 years. Born {digital} has offices in 8 Nordic cities and 1 European city, with the intention to further expand, with the Nordic region as the primary market.
To achieve the goal of 1.5 billion kroner in revenue, born {digital} plans to start companies in collaboration with ambitious entrepreneurial teams, invest in existing well-established consulting companies, and contribute to the growth of these existing companies. Born {digital} is also planning to hire a dedicated CEO to support the companies and to execute on born´s vision to be world's number one co-owner for founder-led consulting companies.
We are looking for entrepreneur-driven consulting firms with high growth, good profitability, a strong brand, and a clear service offering in their target market. We have great confidence in this market going forward, as one thing is certain: there will be a demand for highly skilled individuals within technology and IT- development for a long, long time.
Henrik Lie-Nielsen, Chairman of born {digital}
About born {digital}:
Born Digital consists of a group of selected Nordic companies that provide consulting services in the Nordic market. Born Digital is owned by Amp Eleven, along with the entrepreneurs who own and operate the underlying companies. The vision of Born Digital is to be the world's leading co-owner of entrepreneur-driven consulting firms. Born Digital offers financial resources and funding for further growth to the companies, as well as other strategic and operational support.
Each company in the ecosystem chooses for itself the extent to which it collaborates with other Born-owned companies. The fundamental idea is based on freedom of choice and autonomy for each company, where the entrepreneur and the company engage in processes that they consider most value-creating for their own company. The structure provides born {digital} with significant strategic flexibility, allowing them to take minority positions in new exciting service areas and, in certain cases, also divest from underlying companies if a better owner than born digital emerges for the company and the entrepreneurs.
Following consultancies are a part of Born Digital:
- MUM
- Aliby
- QueensLab
- Eghed
- Holly Tech
- Blead
- Cure
- Crepido
- Zebra Consulting
- Regentor
For more information, visit www.borndigital.se
About Amp Eleven:
Amp11 is a hands-on investment partner for tech and tech-enabled companies with high growth potential and headquarters in the Nordics. In addition to Born Digital, Amp Eleven is invested in the following companies:
- Stacc (software for the banking and financial sector)
- Kravia (digital invoice services, payment follow-up, and debt collection)
- Maksimer (e-commerce solutions)
- Shortcut (native app development)
Amp11 is partnered up with Verdane, the European specialist growth equity investor. For more information, visit www.amp11.no .
Contact information:
Board chairman,
Henrik Lie-Nielsen
Tlf: +47 924 04 152
Epost: henrikln@amp11.no
