We're now doing deals with hundreds of customers every year and we have a lower risk with recurring revenues. This was only possible with Monterro.
Nils Olsson, CEO of Lime Technologies
CASE STUDIES
CASE STUDIES
Lime Technologies
Investment year: 2014
Divestment year: 2019
Area: CRM software
Lime Technologies is a market-leading CRM that offers a holistic experience and a smarter way to conduct business. The team pride themselves on their local roots and on delivering their services with love.
Back in 2008, Lime wanted to scale up and realise its true growth potential. So the founders decided to sell.
But five years later, the new data provider-type environment proved not to be a fit for the rapid-growth tech company. So former CEO at Lime, Erik Syrén, encouraged the Lime team to reassess.
It was time to confront some hard truths.
Lime had a strong vision and an enviable company culture, but in context with other fast-evolving competitors, parts of the business were beginning to look dated for a software company.
Its price model was upfront and it delivered its software on-prem. It also hadn’t invested in new markets like other Nordic countries.
To help take Lime to the next level, the team needed more than funds – they needed insight, experience, and guidance.
“We started looking beyond simple investment options, for an active partner with experience, skills, and market knowledge, who could manage our transition and run Lime with us, together, says Erik.”
So, in 2013 Erik met with Monterro’s Peter Larsson and Thomas Bill.
Monterro’s market insight meant they were able to create a business plan with Lime – right from day one.
“That first meeting really sticks in my mind,” says Erik, “They immediately understood what we wanted to do, and how to achieve it. And they really knew our competition – how we could compete with Microsoft and Salesforce, for example.”
Monterro’s plan covered Lime’s on-prem to SaaS transition, company acquisitions, and international expansion, right through to a potential IPO exit strategy, 10 years down the line.
We're now doing deals with hundreds of customers every year and we have a lower risk with recurring revenues. This was only possible with Monterro.
Nils Olsson, CEO of Lime Technologies
Monterro also encouraged Lime to invest more in product development – tripling the size of the data development department.
Lime tightened its focus on key verticals, opening up a new office in Denmark, investing more, and rebuilding offices in Norway, Finland and the Netherlands.
In parallel to this, Monterro began equipping Lime with all the routines and processes, reports and structures necessary to be a public company someday.
And yet, in spite of the team’s impact, Erik also hails the precision and care of Monterro’s approach – which meant minimal disruption to Lime’s culture.
“If you ask our employees what Monterro did, they would probably say, ‘Nothing!’,” says Erik. “While Monterro were extremely active in the boardroom, they had huge respect for Lime’s DNA.”
The company got the partnership, change, and growth it wanted, but also preserved what makes it Lime.
Lime’s journey has been a true success story, and Erik is keen to share his insight.
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