&frankly was acquired by Norway-based Simployer Group.

&frankly, a Stockholm, Sweden-based developer of a SAAS for employee engagement, announced that it was acquired by the Norway-based company Simployer.

The financial details of the transaction were not disclosed. The deal was made as Simployer has ambitions to be active in the whole Nordic area.

&frankly, (Andfrankly Pulse AB), founded in 2014 by CEO Caroline Fjellner and Peder Nordvaller. developed a cloud-based  software tool that measures engagement and serves as an alternative to the more traditional and comprehensive annual employee surveys. The tool makes it easy to continuously take the pulse of the employees and lead the organization in the right direction.

&frankly is not profitable at a 2019 turnover of SEK 38 million ($4.6M). It raised about $2 million from local investors from Sweden, including Cloud Capital, Luminar Ventures, Petter Lindström and Rickard Norregårdh.

Simployer, founded as Infotjenester in 1985 and led by managing director Thorfinn Hansen, sells HR technology. The company was acquired by the private equity house Ferd in 2019.