ALUMNI SPOTLIGHT: REFINED SERVICE AND KEY CUSTOMERS GIVE A BOOST FOR EXAGARD
Since participating in the DigitalWell Ventures accelerator program, Exagard's business has truly accelerated! Revenue has surpassed one million SEK – and with exciting new customers in both the furniture and food industries, the future looks bright.
Exagard offers a digital service that allows companies to take a comprehensive approach to employee safety. As recently as November, their 2.0 version of the app, which is the core of the service, was released. The company’s CEO, Mikael Eckard, mentioned that the feedback from their initial customers has been crucial for their development – particularly in enhancing the user experience.
“It involves various fine-tuning aspects and elements of gamification. Primarily, we aim to help customers adhere to regulations, including evacuation drills. However, the service not only simplifies compliance but also makes it enjoyable to use,” said Mikael Eckard.
New Feature Has Opened New Doors
Mikael Eckard holds extensive experience in fire safety consultations. Generally, he notes that companies, at best, comply with between 50 and 75 percent of existing legal requirements and regulations – with Exagard’s service, the chances significantly increase to achieve full compliance.
Beyond regulatory compliance, there’s also an economic risk associated with incidents that might occur.
“With any production halts, there’s a loss of revenue, so that’s also an additional argument,” Mikael Eckard added.
CEO Mikael Eckard (at the front) alongside Mikael Söderberg (Sales Manager) and new co-founder Samuel Danielsson, who was one of the architects behind Exagard’s original service.
EVA, a new service for evacuation drills, has notably opened new opportunities in the market for Exagard. Besides evacuations, the app also ensures competence verification for hazardous machinery, substances, or other critical information in a systematic manner. This could potentially lead to an expanded scope, something identified by pilot customer Vestre – one of Norway’s largest furniture manufacturers.
Atria: Key Reference Customer
The company’s biggest paying customer also comes from the industry. Mikael Eckard describes Atria (one of IKEA’s suppliers) as pivotal for Exagard’s growth. This year marks the first time the company has crossed the one million SEK revenue threshold, with Atria’s endorsement as a reference customer paving the way for new business.
This development has also allowed Exagard’s team to strengthen. One notable addition is Samuel Danielsson, one of the architects behind the original product, who has joined as a co-founder.
“Samuel brings immense expertise in development and has notably contributed to enhancing our software. Of course, it’s also a strength that he knows the product so well – his return underscores his belief in our service,” Mikael Eckard mentioned.
Persistent Strong Ties to the Accelerator
It’s been a year since Exagard participated in the DigitalWell Ventures accelerator program, yet the ties to the accelerator remain strong. In fact, they’ve relocated the business to Värmland and Arvika, where the DigitalWell Ventures leadership is also situated.
The move has already made an impact on the local community, as Exagard was nominated for the Compare Innovation Award at a major business gala in Karlstad.
“Had it not been for Stefan Skoglund, David Holm, and DigitalWell Ventures, we probably wouldn’t have made this move – it has also opened doors to the Norwegian market. What the time in the accelerator primarily contributed to was a better analysis of our company, which has been crucial for scaling up operations and genuinely attracting investor interest. It was truly an eye-opening experience,” Mikael Eckard concluded.”