PION Group, a Stockholm-based business group that works to maximize the ability of people and companies, has acquired HRTech company Whippy, a SaaS (Software as a Service) solution for on- and off-boarding.
While the price of the transaction was not disclosed, the company said that the group has acquired 40% of the shares in Whippy through a new issue. The group will contribute SEK 4 million (US$388,519) to Whippy in the new share issue, and at the same time, it will get an option to acquire an additional 40% of the shares in Whippy in 2025.
Whippy, established in 2019, is an HR industry’s leading player in data-driven on- and off-boarding, with customers in both the private and public sectors. In addition to solid experience in tailoring managerial and employee processes during the first and last critical period of employment, the company has specialized in measuring and evaluating the processes. Whippy’s digital content in process is adapted to each customer’s needs and goals to create completely customized experiences for new employees.
Commenting on the acquisition, PION Group CEO Jan Bengtsson said,
Through our entry into Whippy, we gain access to Whippy’s on- and off boarding expertise as well as their SaaS solution for on- and off-boarding. Whippy’s digital solution provides clear and measurable results for managers and employees where 50% of employees who have undergone Whippy’s process deliver above the manager’s expectations in the first quarter. Through the acquisition, we take another step closer to our vision, a world where people matter, powered by tech, where we strengthen our HRTech offering. Today, our customers largely request support in the processes that Whippy offers. Together we will get a very strong customer offer.
Paulin Larsen Berglöf, Co-founder of Whippy, 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 be a complement to Pion Group’s business that will make it possible to add value in even more steps in the employee cycle.
According to the announcement, Paulin Larsen Berglöf and Emma Lindgren will continue to run and operate the company under their current brand.
PION Group is a business group that works to maximize the ability of people and companies to perform at the highest level through competence, technology, and strategy. The company is convinced that human resources will continue to be the hub of growth in the future as well and that new technology will improve and accelerate people’s abilities at a breakneck pace.
The group is located in Sweden, Norway, and Finland and represents companies that work with Consulting in, among other things, IT, Tech, and Strategy as well as Interim Management, Executive Search, HRTech and also recruiting and staffing.
PION Group’s operations are conducted under the brands QRIOS, Workspace Recruit, Poolia, Dremwork, Roi Rekrytering, Lisberg Executive Search, Uniflex, and Student Node.