Trifork Labs company Arkyn announces €4m financing to accelerate growth and expand product suite

Trifork Labs company Arkyn announces €4m financing to accelerate growth and expand product suite

Arkyn, the leading digital platform for service and asset maintenance operations on top of SAP, today announces a EUR 4 million financing co-led by Compounding Capital and Trifork Labs.

The Danish enterprise software company, headquartered in Copenhagen, brings real-time ERP data into the day-to-day maintenance life cycle, asset utilization, and performance measurements to supportinformed decisions that optimize maintenance strategies, improve asset performance, and increase reliability in the field and at the plant. All through a highly modern, user-friendly frontline worker app suite that is fully integrated into SAP in real-time from planning to execution and reporting.

The financing will fuel Arkyn’s impressive international growth and product feature development – enriching and optimizing maintenance process flows in global enterprises with new and exciting AI capabilities for both planning and field execution.

New investor Kasper Grundtvig Knokgaard, owner of Compounding Capital, shares his enthusiasm for the partnership:

“Building modern frontline worker apps that integrate fully with SAP in real-time is a highly complex task, and it requires decades of SAP experience to pull off. Arkyn’s impressive founder team of Martin Holm Nielsen, Rune Durhuus-Andersen and John Stubbe has a combined +60 years of experience creating user-friendly apps that ease and optimize the end-user interaction with SAP in global enterprises – with strategic partners like Apple supporting the journey. As one of very few providers globally, Arkyn has managed to climb that mountain. When you see the Arkyn products at work, it becomes clear how unique the user-friendly interfaces are, combined with the real-time updates back to SAP. It’s a true gamechanger for technicians operating in the field, and most first-time users are blown away.”

Kasper will join the Arkyn Board of Directors as part of the round, and he looks forward to help shape the future growth strategy. Arkyn recently signed a contract with yet another large company from the oil and gas industry, making good on the 2025 ambition to expand its foothold in the US market.

Martin Holm Nielsen, CEO & co-founder, continues:

“Arkyn’s revenue has increased tenfold over the last three years, and this investment enables us to continue our strong development. We are especially excited about penetrating the US and DACH markets further, in combination with launching a range of new features. Not least AI features that allow the frontline worker to spend even less time on admin tasks or finding information, and instead focus on the technical tasks. We are excited to welcome Compounding Capital onboard and are thankful for the continued support from Trifork Labs.”

Jørn Larsen, CEO at Trifork Group, adds:

“The success of yet another Trifork spin-out is a powerful validation of the Trifork Labs model. Working as an innovation and go-to market partner with Arkyn, we have established growth and a solid pipeline in North America with Arkyn’s game-changing SaaS mobile solutions, FastWork and FastPlan for SAP. Being able to attract external capital further validates our business model in Labs, and we look forward to the journey ahead with Compounding Capital.”