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CombinedX

Marketing · Karlstads kommun, Sweden · Founded 2013 · IPO 2022

Specialist companies providing digital transformation solutions MoreLess

CombinedX AB is a group of specialist companies focused on the digital transformation market. Founded in 2018 by Jörgen Qwist and with its headquarters in Karlstad, Sweden, the company operates as a family of knowledge-based businesses that assist other companies and organizations in leveraging the opportunities of digitalization. The business model is centered on acquiring and developing profitable, niche IT and digitalization consulting firms.

Each company within the CombinedX family retains its own identity and specialization while benefiting from the collective strength and network of the group. This structure allows them to offer a wide range of services covering areas such as digital business development, data analytics, process automation, and managed IT services. The group serves a diverse client base, primarily in the Nordic region, ranging from industrial companies to the public sector.

CombinedX's growth strategy involves both organic expansion within its subsidiaries and strategic acquisitions of new companies that complement its existing portfolio. The company is publicly traded on the Nasdaq First North Premier Growth Market, and its financial model relies on the profitability and cash flow of its individual companies to drive overall group value.

Keywords: digitalization consulting, IT services, specialist companies, digital transformation, data analytics, process automation, managed services, Nordic market, business development, acquisitions

Valuation $47M
Revenue $115M
EBITDA $8.0M
Total funding $10–50M

Company overview

CombinedX company information

The essential company record, classifications and operating signals in one place.

Status
Operational
Founded
2013
Headquarters
Karlstads kommun, Sweden
Employees
500
Open positions
None listed
Dealroom signal
57.5
Investment activity
3 companies · latest Feb 2024
Capital deployed
Preferred round
ACQUISITION
industryMarketing

Valuation & funding

CombinedX funding history

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
POST IPO EQUITYOther financing Oct 2025 $569K Edastra
POST IPO DEBTDebt Feb 2024 $1.8M Undisclosed
IPOExit Apr 2022 $0 Undisclosed
LATE VCEquity / VC Oct 2021 $15M $60M Edastra · UNIONEN
Showing 4 recorded eventsUnlock the complete deal history →

Financials

Revenue, earnings and profit over time

Reported history and available estimates. Estimated years are marked “E”; sparse fields are left blank rather than inferred.

YearRevenueGrowthEBITDAMarginProfitMarginR&D
2026 $115M 0% $8M 7% $6.2M 5.4% $0
2025 $115M +1.3% $8M 7% $6.2M 5.4% $0
2024 $113M +21.8% $8M 7.1% $6.2M 5.5% $0
2023 $93M +44.4% $8M 8.6% $0
2022 $64M +6.9% $8M 12.4%
2021 $60M +3% $9.5M 15.8%
2020 $58M $6.6M 11.3%
Company filings, research estimates and Dealroom dataOpen the full financial model →

Growth signals

CombinedX website traffic

Latest recorded traffic for CombinedX is 2.5K monthly website visits, up 25% over the last three months. CombinedX's team declined 12.7% over the past year.

Latest monthly visits2.5K 3-month web change+25% 1-year team growth-12.7%
Monthly website visits44 observations · Oct 2022–Jul 2026
Hover or focus a point to see its exact monthly valueCompare with peers →

Talent graph

CombinedX's talent

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Team profiled 6 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 3 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Investors

2 investors on CombinedX's cap table

Sourced from Dealroom's funding and investor records.

Series B+ 2 investors entered at this stage
Edastra
UNIONEN

Global footprint

Where CombinedX has talent and traffic

Workforce by country
1 countries with
team presence
🇸🇪 Sweden100%
1 country shown

In the news

Latest news about CombinedX

Recent press, funding announcements, and product moves mentioning CombinedX — open to read from the original sources.

See all news

Market sentiment

What the market is saying about CombinedX

An AI-synthesized read of the highest-engagement posts about CombinedX on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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