Finland’s HappySignals raises €12M to transform IT decision-making

HappySignals, a Helsinki-based human-centric IT experience management company, has raised a €12 million round led by Mandatum Asset Management. The investment will fuel its development and global expansion.

  • HappySignals was co-founded in 2014 by three Finnish IT entrepreneurs, Sami Kallio, Pasi Nikkanen, and Sami Aarnio. The company helps organizations transform their IT and Services to become more human-centric by leveraging employee experience data and AI. The startup allows to make informed decisions and focus on what truly matters.
  • In 2020, HappySignals closed a €4.7 million funding with Nauta Capital and Vendep Capital. HappySignals’s solutions has been used by over two million employees in enterprises and businesses, such as Campari Group, Equinor, and Cargotec, across 130 countries. The company also claims that customers of HappySignals have seen a 26% reduction in time lost to IT-related issues.

IT organization’s primary role is enhancing efficiency and satisfaction across the entire organization through effective IT support and tools. Historically, IT has concentrated on technical and process metrics, which essentially measure how IT functions rather than the value it creates or could potentially create.

In IT language, we are talking about moving away from SLAs (service level agreements) and starting to focus on XLAs (experience level agreements). IT should continue to measure the traditional metrics, but the three pillars of IT — People, Process, and Tech — should always be considered in that order,

Sami Kallio, CEO and co-founder of HappySignals, said.
  • The lead investor in the company, Mandatum Asset Management’s Growth Equity, is a Nordic growth equity investor which focuses on the scale-up phase of Nordic growth companies. MAM offers discretionary and consultative asset management for institutional investors and manages a variety of investment products within its core areas of credit, private equity, real estate and equity selection.
  • Existing investors Nauta, a pan-European venture capital firm investing in early-stage B2B software companies with offices in London and Barcelona, and Vendep Capital, a Finnish venture capital firm investing in early-stage B2B SaaS companies across the Nordics and Baltics also participated in the financing round.

The investment will fuel sales, marketing, and product development for global expansion in the growing IT Experience Management (ITXM) market.