Nordic B2B software investor Monterro is owner of Grieg Connect software for ports and ferries

Monterro estimates the global addressable market for Grieg Connect’s core offering is above NOK 3 billion, highlighting the significant growth opportunity.

With much of the global port and logistics industry still at an early stage of digitalization, Monterro sees significant potential for Grieg Connect to expand internationally. Monterro will bring its experience in scaling B2B software companies, alongside expertise in software technology, AI, go-to-market and international expansion, to support the company’s next phase of growth.

“We have followed Grieg Connect for some time and have been impressed by the team, the product and the strong market position they have built,” says Nils Olsson of Monterro, incoming Chair of Grieg Connect. “It is exactly the kind of company we look for: a well-run software business with a strong product, deep domain expertise and significant potential to scale internationally. We are also very pleased that the existing owners will remain invested alongside us.”

Grieg Connect’s software sits at the heart of its customers’ day-to-day operations, making it an important part of the ongoing digitalization of the maritime sector.

“Grieg Connect has many of the qualities we value most in a software company,” says Christian Walther, Transaction Lead at Monterro. “Its technology supports business-critical port operations, it has been built on deep maritime expertise, and it addresses a large market where digitalization still has a long way to go. We also see considerable potential to use AI to further strengthen the product and customer value proposition. We look forward to supporting the team as they expand internationally.”

The partnership with Monterro will give Grieg Connect additional resources and expertise to accelerate growth, both organically and through M&A.

“Grieg Connect has built a strong position in the Nordics by combining innovative technology with deep maritime expertise,” says Espen Ranvik, CEO of Grieg Connect. “As we enter our next phase of international growth, both organically and through acquisitions, it was important to find a partner with the capabilities and experience to help us scale while creating new opportunities for our customers and employees. Monterro has made a very strong impression on us, and we are excited about what we can achieve together.”

“To continue our international expansion, we wanted a partner with a proven track record of scaling software companies”, Espen Ranvik continues. “Monterro brings exactly that. Their expertise and active ownership model will help us strengthen our offering to customers and play an even greater role in the digitalization of the global port industry. We look forward to continuing the journey together.”

“For Grieg Kapital, Grieg Connect is a success story that demonstrates how our maritime, commercial and technology expertise can help develop a company and position it for its next phase of growth,” says Thomas T. Grieg, COO of Grieg Kapital and former Chair of Grieg Connect.

“We believe Monterro is an ideal partner to accelerate Grieg Connect’s international growth. We look forward to working together and to continuing the journey as a minority owner,” says Markus C. Grieg, who will continue to represent Grieg on the Board of Grieg Connect.