Nov 20, 2022 — article

Our investment in Adminkit: saving time and frustration for businesses

Adminkit portfolio

Today, we’re excited to announce our investment in Adminkit, a SaaS platform simplifying admin work for SMEs.

By Mari Wachelke

Adminkit focuses on small and medium-sized businesses (SMEs), and has created a digital toolbox for administration and personnel. "Nothing should take more than 5 minutes", it is their motto. 

Human Resources tools are too expensive and complex for most companies with less than 100 employees. That's why the company developed a tool where no task should take more than a maximum of 5 minutes, so that even SMEs, regardless of industry, can get better control and save time in personnel and administration.

Why invest in Adminkit?

"It is rare that we come across an entrepreneurial team as strong and complete as Adminkit. They have seen a need that hits day-to-day managers right in the heart" says Investment Manager at RunwayFBU, Peder Hjermann. 

The CEO and Co-founder Pål Bredvei has previously founded the successful software management tool Documaster and has also been managing director at Adstate, which develops software for funeral homes.

Co-founder Jan Bredo Pettersen worked for ten years at Komplett and then four years at Google. The other co-founder, Morten Høyseth, was development manager at Questback when the company went from 5 to 300 employees. 

"Now we build what we had always missed ourselves. A digital tool for personnel and administration in for administratively exhausted managers in small and medium-sized companies." From making it easy to follow the team's holiday schedule, to review old contracts to knowing what t-shirt size or food allergies everyone on the team has. 

Recently, over 200 new companies sign in to Adminkit per month, representing 2,500 companies in total - a big jump from the 100 the startup had in the summer of 2021. Today, the company mostly offers its services for free, the product is already in English, and it has also been built in a way that should make it easy to internationalise. The plan is to turn on add on payment for several parts of the service from 2023.

Investment round - 
RunwayFBU, Idékapital, MP Pensjon, Arkwright X and Grunde Eriksen through the holding company Altitude Capital invested in this new round. 

Read more about Adminkit here

Adminkit team

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