Midagon continued its strong growth in 2021. This was driven by expanding the customer base and strong demand across our service portfolio. Midagon’s revenue grew by 31% from 12.6 million € in 2020 to 16.6 million € in 2021.
By the end of the year our team grew to 85 people. New recruitments strengthened especially our ERP and ICT transformation, finance, and operations skill-base. We have been able to recruit experienced professionals, while maintaining our employee promise. We know this is one of the main things that our people value about working at Midagon. Challenging assignments combined with our flexible and relaxed culture, and work-life balance have created an attractive environment for senior experts. Strengthening this will also remain a key objective and enabler for future success.
In May, Intera Partners, a leading Finnish private equity investor, joined Midagon as a new growth partner and co-owner to support the next steps of our growth journey. Intera’s experience and resources will especially support the inorganic growth targets and help Midagon expand to other Nordic and Northern European markets.
The cooperation has started positively. Several activities enabling growth were completed during the fall. These included a strategy renewal, updating the service portfolio, brand renewal and forming a new board of directors. Decisions about filling new key positions were also made, and during 2022 Midagon’s team has already been strengthened with a full-time CIO. A full-time CFO will also join the team during H1.
In order to meet the needs of a growing organization, we re-organized our internal structure in three business areas: Core Processes and Solutions, Strategy and Architecture and Process and Manufacturing Industries. At the same time, Paula Aaltonen, Ilkka von Schulman and Teemu Metsola started as full-time Business Area Directors.
Supporting continuous learning and constantly broadening our vision guarantees that we can create maximum value for our clients. In order to share the vast knowledge in our team and to learn from each other, we established six expert communities, which were formed around the topics of Finance, Supply Chain Management, Mergers and Acquisitions, ICT Management, Industrial Services and Production and Delivery. The communities bring together people with different perspectives to strengthen the dialogue, find synergies and solve common challenges together.
In the end of the year, Midagon chose Banking and Insurance as a key strategic growth area for 2022. We will also broaden our ICT transformation services, with a special focus on ICT architecture.
“All in all, 2021 was a very important year in Midagon’s story. We took important steps to reach another level in everything we do: Internal organization, service offering, and most importantly deepening the collaboration with our clients. We now have a very good basis in place for turning our heads toward our next growth goals. I want to thank our team and clients for the past year!”, says CEO Ilkka Töyrylä.
