Verdane acquires HappyOrNot

● PLATFORM | HORIZONTAL SAAS · Customer Service & CX

AUGUST 27, 2026

Verdane acquires HappyOrNot

TARGET

Point-of-experience microfeedback and real-time operational intelligence software, delivered via smiley-button terminals and digital touchpoints, for retail, hospitality, healthcare, transport, and public-sector organizations.

Ownership	VC-backed · Northzone and AirTree Ventures (exiting co-investors); management and employee shareholders (partial exit) (prior owner); Verdane, Northzone, AirTree Ventures
Capital raised	$39.5M
Headcount	82 FTEs
Headquarters	Tampere, Finland
Leadership	Tim Waterton, Chief Executive Officer Heikki Väänänen Ville Levaniemi
Sell-side advisor	FE International; FE International (advised HappyOrNot and separately advised selling shareholders: Verdane; FE International (advised HappyOrNot the company
Advisor team	Max Alderman, Partner at FE International (FE International (advised HappyOrNot and separately advised selling shareholders: Verdane) Gaj Tanwar, Marketing Manager, FE International (FE International (advised HappyOrNot and separately advised selling shareholders: Verdane) Max Alderman, Partner at FE International (FE International (advised HappyOrNot the company) Gaj Tanwar, Marketing Manager, FE International (FE International (advised HappyOrNot the company)

ACQUIRER

Verdane

Specialist growth buyout investment firm backing tech-enabled and sustainable businesses across Europe, investing in digitalisation and decarbonisation themes.

Headquarters	Oslo, Norway
Deal team	Erling Amble, Partner
Board seats	Carl Holmquist, Chairman (HappyOrNot)
Buy-side advisor	—

Share deal Copy details View press release ↗

Verdane -> HappyOrNot  (2026-09-18)
buyout | Horizontal SaaS | announced
Target: Point-of-experience microfeedback and real-time operational intelligence software, delivered via smiley-button terminals and digital touchpoints, for retail, hospitality, healthcare, transport, and public-sector organizations.
Website: happy-or-not.com | Buyer site: verdane.com
HQ: Tampere, Finland | Ownership: vc-backed | Seller: Northzone and AirTree Ventures (exiting co-investors); management and employee shareholders (partial exit)
Advisors - Sell-side: FE International; FE International (advised HappyOrNot and separately advised selling shareholders: Verdane; FE International (advised HappyOrNot the company
Source: Thematic - https://thematichq.com/software/d/verdane-happyornot.html

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