NUITEQ Raises Additional Venture Capital To Support Its Growing Business

Skellefteå, Sweden, 16 July 2019 – NUITEQ®, a collaborative software company that enables teams, organizations, educational institutions, and businesses to add value through smarter human interaction, announced today that it has raised its third round of venture capital funding.

NUITEQ previously raised two venture financing rounds in 2009 from investment firm Savings Bank of Norrland Foundation for Venture Capital (Sparbanksstiftelsen Norrlands Riskkapitalstiftelse) and in 2015 from investment firm Inlandsinnovation AB, as well as a group of international business angels.

This third financing round of an undisclosed amount is supplied by Luleå based investment foundation Norrlandsfonden, a Swedish bank and Norwegian angel investor Pål Reinert Bredvei, who recently made a successful exit as CEO and co-founder of Oslo based cloud computing company Documaster.

“We are delighted to have the trust of these three partners. We’ve known Norrlandsfonden for years and our company wouldn’t be where it is today without the support of our bank, who has been a supporter of the business for over a decade.“, says NUITEQ’s CEO and co-founder Harry van der Veen. “I met Pål four years ago, when we were both living and working in Silicon Valley, as a part of a Tech Incubator called TINC. I’m excited that we now have him on board with NUITEQ, as his experience as a cloud computing CEO and entrepreneur will be important in the development of our company.” He continues: “The funds will be utilised for sales and marketing activities to strengthen existing global partnerships as well as to build new long term business relationships.“

“I am impressed by the performance and competence displayed by NUITEQ. I think we have a pleasant journey ahead of us together with NUITEQ and I look forward to it.“, said Per Nilsson, Company Analyst at Norrlandsfonden.

Angel investor, Pål Reinert Bredvei comments: “I have followed NUITEQ's exciting journey the last four years from the sidelines. I strongly believe in the company's further growth and I look forward to contribute with my experience and network to the team and the company.“

About Norrlandsfonden
The Norrlands Foundation (Norrlandsfonden) is a Luleå headquartered, Swedish foundation aimed at promoting the development of manufacturing and service-producing companies that want to grow in the five northernmost counties in Sweden. This primarily involves market-completed loan operations in collaboration with, for example, banks and venture capital companies. Annual lending is approximately SEK 300 million. The Norrland Foundation was established in 1961, and the capital of origin comes from state-owned LKAB. The business has a capital of approximately SEK 1 billion and has the Swedish government as the principal.

About Pål Reinert Bredvei
Pål Reinert Bredvei is a Norwegian angel investor and current CEO of Sandefjord headquartered Adstate, a market leader in digital services in the funeral industry in the Nordics where the company has millions of users of their online services. Prior to joining Adstate, Pål was the CEO and co-founder of Documaster, a cloud compliance company he led and grew from a 3-person start-up to a well funded market leading enterprise of 45 people across offices in Norway, Sweden and Bulgaria. In March 2018 he successfully exited Documaster. Prior to that he held multiple Director and Manager roles at different media and technology companies, including Nokia. Pål studied High-Tech-Start-Up at Cornell University and he holds a Masters in Business Economics, Entrepreneurship and Innovation from the BI Norwegian Business School.

About NUITEQ
NUITEQ® is a collaborative software company that enables teams, organizations, educational institutions, and businesses to add value through smarter human interaction.

As a pioneer in the collaborative software world, NUITEQ believes anyone can participate, exchange, learn, and get inspired by smarter human interaction with no digital boundaries.

The company offers its customers collaborative software and adapted content in order to improve and increase the value in human interactions.

Its award-winning software solutions maximize the use of any multi-touch touchscreen with fully independent zones that can be used simultaneously. Customers in over 70 countries have chosen NUITEQ.

For more information, visit www.nuiteq.com.

NUITEQ® and Natural User Interface® are registered trademarks of Natural User Interface Technologies AB in Sweden, EU, and the USA.