Promon AS
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Promon AS - overview
Established
2006
Location
Oslo, -, Norway
Primary Industry
Software
About
Promon AS is a Norwegian company specializing in mobile application security, providing advanced solutions to safeguard applications against various cyber threats. Founded in 2006 and headquartered in Oslo, Norway, Promon AS focuses on enhancing application security. The company has engaged in four total deals, with the most recent deal occurring on December 28, 2021. Yestbold Gantumur serves as the CEO.
In December 2021, a consortium led by GRO Capital acquired a majority stake in Promon AS, although the financial terms of the deal were not disclosed. Promon specializes in mobile application security, offering a comprehensive suite of products designed to protect against various threats in the digital landscape. Their core product offerings include Promon SHIELD® for Mobile and Desktop, Promon IP Protection Pro™, Promon App Attestation™, Promon Asset Protection™, and Promon SDK Protection™. These solutions provide protection against static and dynamic attacks, reverse engineering, and unauthorized access, ensuring the integrity of applications in real time.
The company's products are engineered to safeguard sensitive data and enhance compliance with regulations such as HIPAA and GDPR, serving a global client base across industries including banking, healthcare, gaming, and automotive. In the most recent year, Promon reported revenue of USD 14. 62 mn and an EBITDA of USD -767,216. 1.
Promon AS plans to leverage the recent acquisition to accelerate product innovation and enhance its sales and marketing efforts. The company is expected to focus on expanding into new geographic regions, specifically in Europe and North America, by the end of 2023. The additional resources from the acquisition will support these initiatives, aiming to further solidify Promon's position in the mobile application security market.
Current Investors
Kirk Kapital, Trifork A/S, GRO Capital
Primary Industry
Software
Sub Industries
IT Security/Cybersecurity, Monitoring & Security Software
Website
www.promon.no
Verticals
Cloud Computing
Company Stage
Mature
Total Amount Raised
Subscriber access only
Promon AS - timeline of key events
Promon AS - financials
| Fiscal Year Ended | Dec 31, 2010 | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 1,021,986 | 2,846,717 | 3,306,545 | 10,477,038 | 7,869,880 | 14,418,274 | 19,001,890 | 29,049,298 | 37,215,965 | 51,861,873 | 75,571,350 | 9,197,295 | - | - | - |
| % Revenue Growth (YoY) | - | 178.5% | 16.2% | 216.9% | (24.9%) | 83.2% | 31.8% | 52.9% | 28.1% | 39.4% | 45.7% | (87.8%) | - | - | - |
| EBITDA (USD) | (5,373,637) | (5,704,503) | (7,387,418) | (2,065,319) | (10,548,324) | (3,951,375) | (5,744,344) | (1,979,916) | (2,935,109) | 4,155,248 | 10,618,791 | (21,845,718) | - | - | - |
| Operating Income (USD) | (5,373,637) | (5,704,503) | (7,392,071) | (2,074,624) | (10,557,629) | (3,961,520) | (5,750,936) | (2,093,108) | (3,021,234) | 3,815,255 | 10,399,070 | (21,876,423) | - | - | - |
| Operating Margin | (525.8%) | (200.4%) | (223.6%) | (19.8%) | (134.2%) | (27.5%) | (30.3%) | (7.2%) | (8.1%) | 7.4% | 13.8% | (237.9%) | - | - | - |
| % EBITDA Margin | (525.8%) | (200.4%) | (223.4%) | (19.7%) | (134.0%) | (27.4%) | (30.2%) | (6.8%) | (7.9%) | 8.0% | 14.1% | (237.5%) | - | - | - |
| NET Income (USD) | (3,877,353) | (4,152,879) | (5,297,030) | (1,586,370) | (10,235,096) | (380,360) | (4,647,348) | (170,829) | (2,017,584) | 2,546,168 | 6,697,612 | (20,138,640) | - | - | - |
| % Net Margin | (379.4%) | (145.9%) | (160.2%) | (15.1%) | (130.1%) | (2.6%) | (24.5%) | (0.6%) | (5.4%) | 4.9% | 8.9% | (219.0%) | - | - | - |
Promon AS - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Secondary Buyout | Completed | Promon AS | - |
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Promon AS - employee data
Promon AS - key contacts
| Name | Position | Start Date | End Date | Vcard | Bio | ||
|---|---|---|---|---|---|---|---|
| Member of the Board of Directors | BM | ||||||
| Chairman Of The Board | BM |
BM Board Member
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