“Entrepreneurs in the niche software publishing sector face several challenges. They need to reach critical mass to remain competitive, they grapple with major issues around recruiting and retaining talent, and they must also innovate while adapting to evolving business models,” says Axel Jonsson. It was to address these challenges that the entrepreneur, previously an investor in technology and software, decided to create Comet Software in December 2023, alongside the investment fund Otium Capital. The objective: to build a group of software publishers meeting very specific needs in healthcare, finance, mass retail, and more.
“The vertical software sector is highly fragmented. Sometimes companies are market leaders, but they are often too small or too focused on the technical side of the product,” notes Axel Jonsson. By bringing these companies together, Comet Software’s aim is therefore to pool costs while also accelerating their growth, drawing on expertise and talent in software publishing in particular, as well as B2B marketing and the development of new modules. “Our intention is to provide tailored operational and financial support, while preserving their autonomy,” says Axel Jonsson.
Acquiring three to five companies a year
Comet Software thus aims to acquire three to five companies per year and to achieve €100 million in revenue by 2027, also relying on strong organic growth. Its goal: “to become a European player capable of competing with the leading international publishers.”
To this end, the company has just raised €60 million from Otium Capital, four months after its creation. “These funds will enable us to invest in the group’s development by acquiring new businesses,” explains Axel Jonsson. But also to accelerate our growth , particularly by investing in product development and recruitment.
Three initial acquisitions
Comet Software also plans to draw on its network of executives to share best practices and support the development of these various companies. Not to mention the Otium Capital network, which specialises in tech. The company has, moreover, just completed its first three acquisitions, in the pharmaceutical field, the financial sector and mass retail.
We want alignment between the companies we acquire. We are above all backing publishers with strong potential and high‑quality products, across Europe.”
Thanks to these first acquisitions, the group already employs around one hundred people, serving 2,000 clients in nine countries , and expects to close the year with €14 million in revenue.