Cordel becomes SmartCraft and enters the Finnish market through the acquisition of Congrid

Cordel becomes SmartCraft to reflect the transformation of the business in recent years to a leading provider of cloud-based software for the construction and craftsmen industries in Northern Europe. In addition, SmartCraft has acquired Congrid, the market leader for Construction Quality and Safety Assurance (“QSA”) SaaS software in Finland. The acquisition marks SmartCraft’s entrance into the Finnish market and adds a QSA module to its software offering.

Congrid was founded in 2013 and is today serving more than 150 customers, including 17 of Finland’s 20 largest construction companies. Congrid’s software solution is a mission-critical tool for more than 10 000 active users in the Finnish construction industry who utilize Congrid to monitor the quality and safety management of construction sites. Congrid’s 27 employees are located in Finland and Sweden.

“We are very enthusiastic about the new opportunities that follows this addition to SmartCraft. Congrid is a great company that has taken a leading position in the construction QSA software sector during the last years. We believe the Congrid solution will be a great addition to our existing range of software solutions and will further strengthen SmartCraft’s network position in the Construction Tech ecosystem. The acquisition marks an important step in SmartCraft’s journey to become the leading software provider for construction and craftsmen companies in Northern Europe. The construction industry is just in its early phases of software adoption which provides a significant opportunity for SmartCraft to further drive digitization and resource efficiency for our customers”, says Gustav Line, CEO of SmartCraft.

“Since 2013, we have helped construction companies to transform the quality and safety assurance work processes towards transparency and data-driven decision making. We enable construction companies to utilize field data in their operations and see a clear need for a digital solution like Congrid in the Nordic construction sector. We have built a strong presence in Finland and are currently strengthening our position in the Swedish market. Joining forces with SmartCraft supports our strategy to become the number one construction QSA software solution in the Nordic region, and we are looking forward to widening our geographical footprint further together with SmartCraft”, adds Timo Makkonen, CEO and co-founder of Congrid.

About SmartCraft:
SmartCraft is a leading software platform provider for construction and craftsmen companies serving more than 8 000 customers with more than 85 000 users over three geographies including Norway, Sweden and Finland. SmartCraft offers a range of SaaS software solutions which enables its customers to increase their efficiency, quality and profitability as well as simplifying their day-to-day lives. In addition, SmartCraft’s solutions increase the customers’ resource efficiency and sustainability profile, e.g. by improved planning and estimation processes as well improved management of the construction process itself.

About Valedo:
Valedo is an independent Swedish investment company investing in high-quality small/mid cap companies in the Nordic region. Valedo is focusing on companies with clear growth and development potential where Valedo can actively contribute to and accelerate the companies’ development. Being an active owner and contributing both capital and industrial experience, Valedo ensures that a company can achieve its full potential.

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