Profilence, an Oulu-based software company specializing in optimizing Android-based devices, has secured a new undisclosed investment round from the Finnish venture capital firm Nordic Option. This funding allows current investors to exit the company and boost Profilence’s international expansion.
About Profilence
- Founded in 2014 by Sami Utriainen, Mikko Keskitalo, and Mika Mikkelä, Profilence is an IT company employing over 20 people in Oulu, Finland. The company’s software solutions are designed to analyze and optimize the stability, performance, and energy consumption of Android-based devices.
- Profilence serves various industries, including smart devices, medical devices, and automotive sectors, providing real-time feedback to enhance overall product quality. The company also claims that its approach aims to streamline QA processes and improve software reliability.
Profilence has a strong desire to grow, and we have already demonstrated our capability to succeed beyond the Finnish market. Going forward, we will focus even more on international expansion, especially in the automotive and smart devices segments. We would like to thank our previous investors and warmly welcome Nordic Option, a partner from Oulu that aligns perfectly with our team’s deep regional roots,
Sami Utriainen, CEO of Profilence, said.
Investment details
- Nordic Option is the investor this round. It is a venture capital fund investing in growth companies in Northern Finland, with major shareholders including Arvo Investment Cooperative, Partnera Plc, and the City of Oulu. The firm aims to provide a northern alternative to enable growth and internationalization for small and medium-sized enterprises.
Profilence is an award-winning growth company that has been systematically built step by step. The company possesses a clever technology solution and an excellent team. In its new strategy, the company has set a goal for stronger international growth, and it is both an honor and a pleasure for Nordic Option to be involved in this effort,
Teemu Puumalainen, Investment Director at Nordic Option, commented.
Profilence founders and Nordic Option investors
- Profilence’s early-stage investors who were involved in the initial phases are exiting the company following this investment round. Although the press release doesn’t disclose the names of these investors, according to Crunchbase Butterfly Ventures is one of them.
- The exact amount of the investment deal remained undisclosed.
Profilence plans to use the funding to accelerate its international expansion, to enhance its technology, and drive further growth.
