Nordics software licensing giant Crayon's market value has exceeded $1bn for the first time, with one of its co-CEOs decribing it as a "holy grail" achievement.
Torgrim Takle told Channel Partner Insight that the "unicorn" billion dollar mark was reached this week.
The Oslo-based firm's share price has risen by around 135 per cent since the start of the year, and on Wednesday reached NOK 122.20, resulting in a market value of NOK 9.93bn or $1.05bn.
"It absolutely is a milestone and indicative of the uniqueness of our business model," he said.
"I think right now there are 54 unicorns in the whole of Europe, Crayon being one of them. And unique is where you have got a loyal customer base and you have an offering that very few other companies can compete with."
Takle emphasised that key decisions made over the past four years have enabled the Microsoft partner to quadruple its market value during that time.
Those decisions include not diversifying Crayon's portfolio too widely, he said.
"We have stayed true to the core DNA of our company.
"I think that's really the number one for us. We're surrounded by opportunities every day in the IT industry. There are new services, there are new things you can invest in all the time. And we could easily have invested in 10 new services, or a lot of new IP.
"But we have really stayed true to our core and spent a lot of time with the management level in regional local businesses delivering that message."
His advice to partners looking to emulate Crayon's success is to also focus on increasing customer retention.
"We have less than two per cent churn on our customer base. Most of our customers have been with us for more than a decade. When companies say that they are unique. I ask, well, show me the customer portfolio - show me your churn rate," he said.
"Because everyone can sell to new customers; there are a lot of sales people going around. So selling is easier. Retaining customers is not."
Whilst Takle said this week's news has "created waves within the investor community", he wants to focus ahead to the next milestone already; becoming a decathon.
"The next threshold in terms of valuation for a company like us will be to become a decathon, to reach that market cap of $10bn."
For Takle this bold ambition is well within reach.
"If you look at what the public cloud enables companies to achieve with new technologies such as AI and machine learning, we do believe in this."
"And if tech spend as a percentage of GDP is set to double over the next 10 years, and if Crayon is able to continue to gain market share in the way we have, it's worth being ambitious.
"There are always execution risks but we don't see any structural blockers."
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