Sweden – Pion Group acquires the HR technology company Whippy
17 January 2023
The Pion Group (POOL-B:STO), formerly known as Pooliaannounced that they have acquired the Swedish HR technology company Whippy, a SaaS (software as a service) solution for on- and off-boarding.
The group has acquired 40% of the shares in Whippy through a new issue. The acquisition takes place from today and Pion Group will contribute SEK 4 million (€354,462) to Whippy in the new issue. At the same time, Pion Group gets an option to acquire an additional 40% of the shares in Whippy in 2025.
Whippy’s sellers are its founders Paulin Larsen Berglöf and Emma Lindgren. The duo will continue to run and operate the company under its current brand.
The price of the transaction was not disclosed.
Whippy was established in 2019 and has a strong market position in digital on- and off-boarding with customers in both the private and public sectors. The company says that in addition to solid experience in tailoring managerial and employee processes during the first and last critical employment period, they specialize in measuring and evaluating the processes.
In 2023, Whippy is expected to have a turnover of close to SEK 6 million (€531,693) with an EBIT of just over SEK 1 million (€88,615).
Jan Bengtsson, CEO Pion Group, said: “Through our entry into Whippy, we gain access to Whippy’s on and offboard expertise as well as their SaaS solution for on and offboarding. Whippy’s digital solution provides clear and measurable results for managers and employees where 50% of the employees who underwent Whippy’s process delivered above the manager’s expectations during the first quarter. Through the acquisition, we take another step closer to our vision, A world where people are important, driven by tech, where we strengthen our offer in HR-Tech. Today, our customers largely support in the processes that Whippy offers. Together we will have a very strong customer offer.”
Larsen Berglöf added, “We are proud to be part of the Pion Group and with their strong brands we will be even more successful. It was felt early on that we fit together from a cultural perspective, but also from our ambitious goals. Whippy will to be a complement to Pion Group’s operations that makes it possible to add value in even more steps in the employee cycle.”
At the same time, Whippy also announced that it has acquired Henry Labs AB, owner of the SaaS platform Typelane, which specializes in digital on- and offboarding. Whippy has been a reseller of Typelane since 2019, after evaluating many of the existing onboarding technologies in the Swedish and Nordic market.
The group said Pion’s investment enables this acquisition.
“By being part of the Pion family, we also gain access to a large network and good competence in HR that can strengthen our growth,” added Larsen Berglöf. “It feels incredible to be able to offer a new home for Typelane because we know that the platform offers one of the best solutions for tailoring on board and offboard. We will nurture what the founders of Typelane have built and further develop the platform based on where we see the market going.”