Wapice Oy

What Wapice Oy does

Wapice Oy is a privately held Finnish software and technology company headquartered in Vaasa, founded in 1999. The company provides industrial software development services and proprietary software products to enterprise customers, primarily in energy technology and moving machinery/heavy equipment, with additional exposure to municipalities (smart city), industrial manufacturing, and infrastructure. Its customer base includes globally recognized names such as Schaeffler, Ponsse, Helen, Peab, Bronto Skylift, Atria, Lumme Energia, and the City of Tampere, served through 330+ specialists distributed across nine Finnish cities.

The company's core technology is a full-stack industrial software capability covering sensors, embedded systems, cloud, AI/ML, and user interfaces. Its flagship product is IoT-TICKET, a no-code IoT and AI platform built on Microsoft Azure that won the 2019 Microsoft Application Innovation Partner of the Year Award. The proprietary product portfolio also includes Summium CPQ (a sales configurator with a Summium AI generative AI add-on), EcoReaction (a Datahub-certified energy monitoring and reporting service for Finnish utilities), Entriam (identity and access management), the WRM247 series of intelligent IoT edge devices, and the free CANrunner CAN bus diagnostic tool. The platform integrates with multiple connectivity and AI ecosystems, including NVIDIA, Wirepas Mesh, Frends, Treon, and Nobody Engineering.

Wapice operates a hybrid revenue model combining professional services (custom software development, consulting, outsourcing, electronics design, embedded development, DevOps, and security) with subscription-based cloud products (IoT-TICKET, Summium CPQ, EcoReaction) and hardware sales (WRM247). The go-to-market is primarily consultative enterprise field sales in Finland, supplemented by a global self-service cloud channel for IoT-TICKET and partner-driven distribution through Telia across the Nordics and the Wirepas ecosystem. The company is privately held with no disclosed parent, no venture funding, and disclosed annual turnover of approximately €30 million. It maintains ISO 9001, ISO 14001, and ISO 27001:2022 certifications, and an AAA highest creditworthiness rating.

Name

Wapice Oy

Legal name

Wapice Ltd

Website

https://wapice.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

101–250 employees

Short description

Wapice Oy is a Finnish software company founded in 1999 that provides industrial software development services and proprietary IoT, CPQ, and energy monitoring products to enterprise customers in energy, heavy machinery, and smart city sectors.

Ownership category

akta.pro rank

Headquarters

HQ city

Vaasa

HQ country

Finland

HQ region

Europe

Offices9 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Software Development Services: Custom software development, consulting, outsourcing, and continuous maintenance services for industrial clients. Includes electronics design, embedded systems, web/mobile solutions, DevOps, and security services.
2. IoT-TICKET Platform: Cloud-based IoT and AI platform offered as subscription/SaaS model. Customers pay for platform usage, hosting, and additional modules.
3. Summium CPQ: Sales configuration software as a cloud subscription. Streamlines quote-to-cash processes for B2B sales organizations.
4. EcoReaction: Energy monitoring and reporting service, likely subscription-based for energy companies.
5. WRM247 Hardware: IoT edge devices sold as hardware products to industrial customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Wapice Oy is a Finnish software company that delivers end-to-end industrial software development services and proprietary IoT/AI products. The company provides custom software, embedded systems, electronics design, cloud, AI/ML, and DevOps services, complemented by products such as the IoT-TICKET platform, Summium CPQ sales configurator, EcoReaction energy monitoring service, Entriam identity access management, WRM247 IoT edge devices, and the free CANrunner diagnostic tool.

Product overview

Wapice Oy operates both as a software development services provider and product company. The product portfolio consists of cloud-based solutions centered around the IoT-TICKET platform (award-winning IoT and AI platform), complemented by Summium CPQ (sales configurator with Summium AI for generative AI capabilities), and EcoReaction (energy monitoring). Additional products include Entriam (identity access management), WRM247 series (IoT edge devices), and CANrunner (CAN diagnostic tool). The company also offers professional services including AI/analytics, cloud, embedded systems, and IoT development. The portfolio serves industrial clients primarily in energy technology and moving machinery sectors.

Differentiator

Problem solved

Functional benefit

Brands

• IoT-TICKET: Award-winning IoT & AI platform for creating production-grade Internet of Things applications without coding.
• Summium CPQ
• EcoReaction
• Entriam
• WRM247 series
• CANrunner

Products and services

• IoT-TICKET
• Summium CPQ Sales configurator software that streamlines the quote-to-cash process by combining product configuration, pricing, and quote generation into one tool for improved communication between product development, sales, and manufacturing. Targeted at B2B manufacturing companies with complex product configurations.
• Summium AI AI-enhanced version of Summium CPQ incorporating generative AI capabilities for enhanced product configuration and proposal generation.
• EcoReaction Datahub-certified energy monitoring and reporting service for utilities. Provides comprehensive energy monitoring for customer service improvement and staff workload reduction.
• Entriam Identity access management solution enabling secure authentication and authorization for enterprise systems and applications.
• WRM247 Series Intelligent IoT edge device for industrial connectivity and edge computing applications. Enables data collection and processing at the network edge.
• CANrunner Free CAN analyzer and diagnostic tool for CAN bus monitoring and troubleshooting in automotive and industrial applications.
• IoT Services End-to-end IoT solution development from sensors to cloud, including connectivity, data platforms, and application development.
• Embedded Systems Services Electronics design and embedded software development for IoT devices, industrial control systems, and microcontroller-based products.
• AI, Analytics and Big Data Services Professional services for AI strategy, generative AI, machine learning, computer vision, and IoT-based solutions for industrial applications.
• Cloud Services Cloud architecture, migration, and managed services for enterprise cloud platforms.

Quantifiable outcome

• Kasten dealer bidding time reduced by 75% (from 2 days/week to half a day/week)
• +2 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability8 records

Feature8 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• TeliacoreChannel Partner/ Reseller/ Distributor · 3 October 2025Strategic partnership to deliver Wapice's IoT and AI platform to Telia customers across its markets in the Nordics. Telia serves as a channel partner distributing IoT-TICKET platform to enterprise customers in Sweden, Norway, Denmark, and Finland.
• NVIDIAcoreTechnology or Integration · 20 March 2025Wapice joined the NVIDIA Connect Program for access to cutting-edge AI technology, training resources, and expert guidance. Collaboration aims to enhance Wapice's AI capabilities including predictive maintenance, autonomous vehicles, and health/safety applications.
• WirepascoreStrategic or Co-development PartnerStrategic partnership combining Wirepas Mesh (wireless connectivity for massive IoT) with IoT-TICKET platform. Enables companies to quickly bring IoT solutions to market. Example collaboration: Schaeffler OPTIME condition monitoring solution.
• DigitaminorStrategic or Co-development PartnerCooperation in Smart City projects. Digita provides LoRa network infrastructure while Wapice delivers IoT solutions and platform services.
• MicrosoftcoreTechnology or IntegrationMicrosoft partner with Global Innovation Award winner status. IoT-TICKET built on Microsoft Azure cloud service. Winner of 2019 Microsoft Application Innovation Partner of the Year Award.
• AI FinlandminorGTM or Marketing PartnerCertified AI 1000 Training Partner. Wapice delivers AI training to company executives as part of the AI 1000 program organized by AI Finland network, helping organizations identify AI use cases.
• City of TamperecoreStrategic or Co-development PartnerLong-standing smart city partnership. Wapice provides IoT platform for Tampere Smart City which won the Enabling Technologies Award at World Smart City Awards 2023.
• City of HelsinkiminorStrategic or Co-development PartnerCollaboration on Mall of Tripla smart city pilot using 5G, NB-IoT, AI, and IoT-TICKET for data collection on congestion, human flows, and environmental conditions.

Scale indicators6 records

Recent moves7 records

Expansion highlights7 records

Broad incumbents

• Tieto (TietoEVRY): Large Finnish-Norwegian IT services and software company with significant industrial, energy, and public sector practices. Directly comparable to Wapice in custom software development for industrial customers in the Nordics, but operates at much larger scale and across many verticals.
• Siemens (MindSphere / Industrial IoT): Global industrial conglomerate with a dedicated Industrial IoT platform (MindSphere / Insights Hub) for asset monitoring, predictive maintenance, and energy management. Most direct incumbent competitor to IoT-TICKET at the global platform level, bundled with Siemens' broader industrial automation stack.
• PTC (ThingWorx): Global industrial software company with the ThingWorx IoT platform, focused on connected operations, predictive maintenance, and digital twins for industrial customers. Closest global incumbent to IoT-TICKET in functionality, serving overlapping verticals like manufacturing, energy, and heavy equipment.

Direct peers

• Qt Group: Finnish software company specializing in cross-platform development frameworks for embedded systems and IoT devices. Most directly comparable peer given the shared Finnish origin, embedded systems heritage, and focus on industrial/IoT software tooling, though Qt is a much larger, publicly listed product company.
• Reaktor: Finnish software and digital transformation consultancy with strong IoT, AI, and industrial software practices. Closest direct peer in terms of headcount range, services-plus-product model, and Finnish industrial customer base, including smart city and energy engagements.
• Siili Solutions: Finnish digital transformation and software company serving enterprise customers with custom development, data, and design services. Comparable in services-led business model, Finnish origin, and industrial/enterprise customer profile, though more weighted to design and web/mobile than industrial IoT.
• Vincit: Finnish software services and product company (now part of Vincit group) serving enterprise customers with custom software, IoT, and digital solutions. Highly comparable in size, Finnish origin, and combined services-plus-product model targeting industrial enterprises.
• Knowit: Nordic digital consultancy providing custom software, IoT, and digital transformation services to enterprise and public sector clients. Comparable in services-led business model, industrial and public sector exposure, and Nordic geographic footprint, though distributed across Sweden, Norway, Finland, and Denmark.
• Bouvet: Norwegian IT consultancy and software services firm serving Nordic enterprise and public sector clients with custom development, IoT, and digital solutions. Comparable in services-led model, Nordic enterprise focus, and headcount scale, though more weighted to Norwegian public sector.

Regional players

• Elisa: Major Finnish telecom operator with an IoT connectivity and platform business serving enterprise and industrial customers. Comparable as a Finnish-headquartered provider of IoT services and connectivity to industrial clients, with significant overlap in target verticals (energy, manufacturing, smart city).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Wapice
• YouTubeyoutube.com/channel/UCyTXUSxcmYMPHmReTZAE5zA
• Facebookfacebook.com/190160004333707
• LinkedInlinkedin.com/company/wapice-ltd
• Instagraminstagram.com/wapiceltd

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wapice Oy