Documaster completed a capital raise totalling $3.3M from Summa Equity

Norway Sweden Investments 16 September 2019
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Documaster, an Oslo, Norway-based company providing a system agnostic archiving core compliant with Norwegian archiving standards and correspondent international regulations, secured a capital investment round totalling NOK 30M ($3.3M).

The money was raised from existing investors, specifically Summa Equity and NorseLab.

Documaster, founded in 2014 by Dimitar Ouzounov and Christian Lundvang as a spinoff from Norselab, built a service on top of cloud services for Records Management available for the private and public sectors.

The company has a subscription model supported by more than 200 customers including Telia, Bama, Berentsen, Østfold Energi and Knutsen OAS Shipping, and expects to generate revenue of $35M for 2019.

Prior to this round, Documaster secured about $12M in a round in which Summa Equity acquired the controlling share package, now with 55% of the shares.