What New Normal Group does

New Normal Group is an entrepreneurial technology company builder and operator-investor headquartered in Skien, Norway. Founded in 2019, the group invests from its own balance sheet rather than through conventional VC/PE fund cycles, allowing it to take long-term industrial ownership positions in technology companies targeting billion-dollar market niches. Operationally it runs three complementary vehicles — New Normal Labs (venture factory for early-stage incubation), New Normal Ventures (seed and growth-stage investing), and New Normal Technologies (long-term ownership of high-growth businesses) — and a corporate-finance boutique called Assetto to support additional funding and M&A activity for the portfolio.

The portfolio spans nine wholly-owned operating companies across e-commerce (Crystallize headless commerce platform), audio capture and production for media creators (Nomono), AI-powered railway intelligence for predictive maintenance (Cemit), IoT data infrastructure (Dimension Four), authentication and fraud/risk management (Okay), design and technology studio (Snowball Digital), corporate finance tooling (Assetto), order management (Hantera), and AI-driven supply-chain and strategic risk intelligence (Raifn, launched in April 2026). Underlying technology includes a custom AI agent layer per business function (growth, back-office, operations, product) that is shared across the portfolio, along with the proprietary Prove & Scale methodology that codifies product-market fit, total-product definition, business model instrumentation, go-to-market, and financing stages from $1M to $1B revenue.

Commercially, the group has no direct end customers; revenue and capital appreciation flow from its portfolio companies, which collectively employ 100+ people and generate more than 50% of revenue outside the Nordics, over 80% of revenue as recurring subscription or scalable services revenue, and an average ARR growth above 100%. Named enterprise customers of portfolio companies include Mercedes-Benz, Mitsubishi Electric, Rolex Benelux, Etihad Rail, DnB, Red Bull, Plantasjen, BilXtra, and Cappelen Damm. Ownership is concentrated among founding and operating partners, with no external institutional fund investors disclosed.

Name

New Normal Group

Legal name

New Normal Group AS

Website

https://newnormalgroup.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Short description

New Normal Group is a Norwegian balance-sheet technology company builder and long-term operator-investor that owns and supports a portfolio of nine vertical B2B software companies across e-commerce, rail intelligence, IoT, cyber, audio, finance, and supply-chain risk, serving global enterprise customers.

Ownership category

akta.pro rank

Product category

Technology Holding Company / Software Group

NAICS

Management of Companies and Enterprises (551), Software Publishers (51321), Custom Computer Programming Services (541511)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Prepackaged Software (7372)

akta.pro primary industry

Open-Source Model Ecosystems & Model Marketplaces (HDAAACAM)

akta.pro secondary industries

Restructuring & Turnaround Advisory (BPAHADAD), User Lifecycle Provisioning & SCIM Automation (HDAEAJAK)

Keywords

• Technology company building
• Venture capital investing
• Software portfolio management
• Tech startup incubation
• Long-term ownership

Headquarters

HQ city

Skien

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Investment Returns and Capital Appreciation: New Normal Group operates from a balance sheet without traditional VC/PE fund cycle limitations. They invest, build and own technology companies for the long term, generating returns through capital appreciation of portfolio companies and successful exits.
2. Portfolio Company Revenue: Portfolio companies generate revenue through various models including SaaS subscriptions, services, and product sales. Group benefits from portfolio growth with 80%+ of portfolio company revenue being scalable recurring revenue.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

New Normal Group is an entrepreneurial technology group that invests in, builds, and owns technology companies defining the new normal of their industries in the age of AI. Operating from a Nordic base with global focus, the group runs three investment vehicles (New NormalLabs for incubation, New NormalVentures for seed/early-stage investment, and New NormalTechnologies for long-term ownership) and applies the Prove & Scale methodology, custom AI toolbox, and a multidisciplinary expert network across a portfolio of best-of-breed software companies spanning e-commerce, audio, railway intelligence, IoT, cybersecurity, corporate finance, order management, and risk management.

Product overview

New Normal Group is an entrepreneurial technology group that operates as a multi-product portfolio company through three investment vehicles: New NormalLabs (venture factory/incubator), New NormalVentures (seed and early-stage investor), and New NormalTechnologies (long-term ownership). The portfolio includes nine best-of-breed technology companies targeting billion-dollar market niches: Crystallize (headless e-commerce platform), Nomono (audio capture/production), Cemit (AI-powered railway intelligence), Dimension Four (IoT infrastructure), Okay (authentication/fraud/risk management), Snowball Digital (design & technology studio), Assetto (corporate finance), Hantera (order management system), and Raifn (AI-powered risk management/intelligence). These companies collectively serve enterprise customers across e-commerce, IoT, critical infrastructure, cybersecurity, finance, and media sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Crystallize

Quantifiable outcome

• 100%+ average ARR growth rate across portfolio companies
• +2 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature3 records

Partnerships

One partnership is on record.

• AssettocoreImplementation/ SI/ Consulting PartnerAssetto is New Normal Group's entrepreneurial corporate finance boutique that supports portfolio companies on additional funding and M&A activities beyond New Normal Group investments. It provides modern tooling and expertise for corporate finance and transactions.

Scale indicators7 records

Recent moves5 records

Expansion highlights6 records

Regional players

• Summa Equity: Nordic private equity firm focused on technology-enabled, sustainable businesses. Comparable as a Nordic capital partner that takes long-term ownership positions in technology companies, though operating as a traditional PE fund rather than a company builder.

Direct peers

• Entrepreneur First: Global talent investor that brings together co-founders and supports them from pre-idea through funding. Comparable in its systematic, methodology-driven approach to creating new technology ventures from first principles.
• Antler: Global early-stage VC and founder generator that identifies and builds technology startups from the idea stage. Comparable in its systematic approach to venture creation and its global footprint of supported companies, though with a more distributed co-founder matching model.
• Rocket Internet: Global venture builder and incubator that founds and scales internet/tech companies across emerging markets. Directly comparable to New Normal Group's model of building and operating a portfolio of best-of-breed technology companies for the long term, though at significantly larger scale.
• Atomic: US venture studio that partners with founders to build and fund startups from inception. Comparable in its hands-on company building approach, shared resources across portfolio, and focus on launching multiple venture-backed companies in parallel.
• Science Inc. Tech operating company that builds, launches, and invests in digital businesses. Comparable in its model of building a portfolio of technology companies with shared operational support and long-term holding approach.
• High Alpha: US-based venture studio that conceives, launches, and leads seed investments in B2B SaaS companies. Directly comparable as a company builder that pairs capital with operational support and shared services, similar to New Normal's Prove & Scale methodology.
• Idealab: Pioneering technology company builder founded in 1996 that creates and operates multiple internet/software businesses. Comparable as a long-running, founder-led company builder that incubates ventures internally and supports them with shared services and capital.
• Pioneer Square Labs: Seattle-based venture studio that co-founds technology companies with a consistent playbook. Comparable in its repeatable venture creation model, shared services infrastructure, and focus on B2B software opportunities.

Others

• eZ Systems (legacy): The original open-source software company co-founded by New Normal Group's CEO Aleksander Farstad. Relevant as a historical proof point for the founders' ability to scale Nordic software globally, and as a thematic precedent for Crystallize's open-core commerce approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/NewNormalGroup
• Facebookfacebook.com/newnormalgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about New Normal Group