Major Entrepreneurs Invest in The Intelligence Company: "Now an Information Revolution Begins"
A number of major entrepreneurs are jointly investing 25 million SEK in TIC - The Intelligence Company AB (publ), the AI and information company founded by Jens Nylander. The investment will primarily be used to make extensive purchases from public data sources in order to create smart services for secure business decisions for companies and to offer open data to the public, researchers and media houses.
During the year, Jens Nylander developed an AI tool that helped reveal procurement fraud, falsified annual reports, deficiencies in control systems and a long list of incorrect benefit payments in the public sector. These revelations led to Jens being nominated for the Grand Journalism Prize, while the business was formalized in the company TIC - The Intelligence Company (publ).
TIC is now raising 25 million SEK in an investment round that was oversubscribed more than three times. The issue is led by CoFounded Capital AB with CEO Helene Mörtberg and founders Patrick Söderlund, Hjalmar Winbladh and Jacob de Geer. Several other well-known Swedish entrepreneurs are also participating in the round, such as Andreas Ehn and Johannes Schildt. An equally long list of investors unfortunately did not have the opportunity to invest in the company this time.
"I am pleased that so many want to support the information revolution that we will now start with The Intelligence Company. The financial mobilization and the arguments I hear indicate a desire to curb waste in the public sector by making data widely available, while TIC as a company will offer services for secure business decisions, credit granting, regulatory compliance and identifying sales opportunities for companies," says Jens Nylander.
In parallel with the company's operations, TIC will make open data available to the public, researchers and media houses. In addition, TIC will offer training initiatives for businesses and the public sector, with the aim of scrutinizing control systems and providing tips on how operations can be made more efficient.
"The intelligence market is worth enormous sums, over 1,000 billion SEK, and is dominated by old companies, systems and pricing models. Authorities sell expensive information that then becomes locked up with these companies and does not benefit the public and media, and we think that is very wrong. Our platform provides both more intelligent data and creates great value," says Jens Nylander.
He believes that TIC will contribute to data democratization and significantly reduced fraud - both in the public sector and the private business sector.
"Many public actors have been deceived by substandard credit reporting services where suppliers have been able to dodge controls through 'smart' setups. The abolition of the audit requirement and reduced share capital requirements have opened the doors wide for those who want to defraud both public and private operations. Now we are going to put a stop to that," says Jens Nylander.
The Intelligence Company AB (publ) is a public limited company founded by Jens Nylander together with a group of developers, experts in accounting, auditing and public law. The company received a license in November 2024 to conduct a nationwide credit reporting business.