Having recently surpassed the first revenue milestone on a 5-year growth plan, increased the number of employees by 100% in 2017 – and at the same time managed to be ranked as Norway’s 6th best place to work on their first attempt – Nordic HCM leader CatalystOne Solutions has had a tremendously good year.
Press release: Oslo 21 March 2018
A Great Place to Work
Spirits were sky high last night when Great Place To Work® at their annual gala revealed their Top 10 list over Norway’s best places to work, and CatalystOne was ranked as the 6th best place to work in Norway in their size category. “We are thrilled about being recognised by Great Place To Work®. We were of course hoping to make the list on our first attempt, and we are happy that our focus on company culture, careful recruitment, and people processes is being recognised. The greatest reward will, however, be to share this with all our employees who are the heart and soul of the company”, says Camilla Hydén, VP People & Culture.
80% of organisations are expected to close their HCM technology gap within 3-5 years
In January 2017 CatalystOne embarked on a 5-year growth journey. Having prepared both the organisation and the product over the past few years, CatalystOne was all set to take advantage of the rapid maturing of the HCM (Human Capital Management) market. The current market adoption of cloud-based HCM systems in the Nordics is a mere 20%. Analyst firm HerbertNathan & Co predicts that within 3-5 years a majority of the remaining 80% in the Nordic mid-market will due to external EU legislation (GDPR, May 2018) and rapid digitalisation in general be forced to add HR technology to their technology suite for both compliance and strategic reasons. Furthermore, according to HerbertNathan & Co’s report “HCM systems in Sweden/Norway/Denmark”, CatalystOne is very well positioned in this market. CatalystOne is determined to grab a sizable share of this global 100 billion NOK HCM software market.
44% revenue growth and surpassing targets in 2017
“Our corporate culture is an important part of our growth strategy”, explains Avtar Jasser, CEO of CatalystOne Solutions. “Our wonderful employees and our strong values are essentially what will take us successfully to the end of our 5-year growth plan. And we are already seeing proof of this. We managed to grow our organisation organically by 100% over the course of 2017, we surpassed our revenue target, and ultimately grew our business by 44% from 2016. And that Great Place To Work® in the same period, based on feedback from our employees and review of our people processes, recognises us as one of Norway’s best places to work makes me especially proud. That shows that we have the very best foundation for successfully growing our company 40-50% YoY the next few years.”
”I have known many software companies during my career, both from the inside and the outside, but none quite like CatalystOne” says Thomas Falck, Chairman of the Board of CatalystOne Solutions. “They have a truly unique culture where they, almost like a family, care, support, motivate, and learn from each other. I am convinced that this culture in itself is a competitive advantage that will help CatalystOne in becoming a sizable and very successful company.”
Financial backing and strengthening of the Board
Over the course of 2017 CatalystOne also received financial backing from Neqst, a Swedish investment firm focused on the technology sector. The funding will support CatalystOne in its ambition to accelerate its expansion and strengthen its position as a leading HCM software supplier for the mid-market in the Nordics. CatalystOne has also by appointing Henning Hansen strengthened its Board of Directors with significant growth expertise. Henning, former CEO of Confirmit, a global leader in feedback management software, contributes greatly with his experience in growing a global SaaS company to help CatalystOne achieve their goals.
For further information, please contact:
Avtar S. Jasser, CEO – ajasser@catalystone.com , M: +47 958 78 030
Thomas Falck, Chairman – thomas.falck@agendacapital.no , M: +47 474 00 520
About CatalystOne Solutions
CatalystOne is a fast-growing SaaS company that specialises in software and services for digitalising HR processes and enabling positive relations between HR, employees and managers. We are the Nordic leader within HCM (Human Capital Management) software and provide user-friendly solutions for processes such as HR master data, performance management, talent management and learning management. We work closely with our customers to ensure maximum value and support – passion for our customers’ success is in our DNA.
CatalystOne has offices in Stockholm, Oslo, Copenhagen, Sandefjord, and an R&D centre in Chandigarh, India. Our team consists of some 170 HCM professionals, and growing.
About Great Place To Work®
Great Place to Work® is the global authority on building, sustaining, and recognizing high-trust, high-performing workplace cultures. We have crafted our perspective by learning from great leaders, surveying millions of employees, and examining thousands of the best workplaces around the globe. We thrive on sharing the insights we’ve gleaned from our work with companies of all industries and sizes in order to help organizations around the world build, sustain and scale their great culture.
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