Lyyti is an event management software company founded in 2007 in Turku, Finland. The company is a clear market leader in B2B event management software in Finland with some 60% market share. Lyyti was established driven by the founders’ own need to digitalize the event management process, which has remained in the core of Lyyti to this day: the customer is always in the center of product and service development. Lyyti’s competitive advantage lies in the positive company culture and the easy-to-use yet flexible product. The company has offices in Turku, Helsinki, Stockholm, Paris and Amsterdam. Lyyti has always been profitable and has grown using cashflow to roughly 4 million euro revenues in 2018. The company employs some 50 people.
Vaaka Partners invested in Lyyti in 2019 to support the company’s ambition to grow outside the domestic market and achieve a significant market share in Europe. Together the company management and Vaaka deal team formulated a growth plan with a target to grow Lyyti’s revenue by a factor of five. Vaaka brought to the company, in addition to capital, strong industry expertise and experience from other similar growth stories – the new Board composes of the Basware co-founder Hannu Vaajoensuu, one of the LeadDesk founders and start-up investor Olli Sirkiä, and the digital marketing all-rounder and former CEO of Magenta Advisory Markus Huttunen.