Velory
By Velory AB
Velory is a Stockholm-based technology company that has positioned itself as a leader in the IT Lifecycle Management (ITLM) space. The company focuses on bridging the gap between IT, HR, and Finance by providing a platform that treats hardware management not just as a logistical task, but as a core part of the employee experience. Velory's mission is to empower teams to work more efficiently while promoting a sustainable, circular approach to technology consumption. With a workforce of approximately 50 employees and a strong presence in the Nordic markets, the company has successfully expanded its reach to hundreds of international clients ranging from fast-growing startups to multinational enterprises. Their strategic focus on 'Zero-Touch IT' aims to eliminate manual intervention in the device lifecycle, ensuring that data flows seamlessly between procurement, security, and employee management systems.
Velory was founded in its current form around 2020 by Johan Lilja, although the parent company, Velory AB, originated as Universal Avenue in 2014. Universal Avenue was initially a platform for on-demand direct sales, helping digital brands scale rapidly. Recognizing a massive inefficiency in how these growing businesses managed their internal IT assets and hardware procurement, the leadership team made a strategic pivot to develop Velory. This transition was fueled by the vision that IT management should be as seamless as a consumer shopping experience. Based in Stockholm, the company leveraged Sweden's strong tech ecosystem and sustainability values to build a platform that balanced operational efficiency with environmental responsibility, eventually rebranding entirely to Velory to reflect its core focus on IT lifecycle excellence.
Velory has successfully raised over $31.3 million in funding to date, reflecting strong investor confidence in its ITLM model. Its most notable investment rounds have included participation from world-class venture capital firms. Key investors include Eight Roads Ventures (the proprietary investment arm of FIL, Fidelity International Limited), Salesforce Ventures, and MOOR Holding (the private investment arm of Kaj Hed, the majority owner of Rovio Entertainment). Additional support has come from Found.ation and various angel investors. These funds have been primarily allocated toward product innovation—specifically the development of the 'Universal API' and circular IT tracking features—and geographic expansion into broader European and global markets. The involvement of Salesforce Ventures, in particular, highlights Velory's alignment with modern, cloud-first enterprise ecosystems.
The Velory product ecosystem is structured into three primary modules that cover the entire asset lifecycle. The 'IT Procurement' module enables businesses to set up custom, branded hardware stores where employees can order approved gear. The 'IT Asset Management' (ITAM) module provides a live, unified dashboard showing the status, assignee, and security posture of every device, synced directly from MDM platforms like Microsoft Intune. Finally, the 'End-of-Life Management' module handles the critical 'offboarding' phase, offering automated workflows for device buyouts by employees, professional trade-ins, or certified green recycling. These offerings are available across three subscription tiers—Starter, Standard, and Pro—allowing companies to scale their usage as their IT needs evolve from basic tracking to complex, multi-supplier global operations.
Originally focused on the Swedish market, Velory has rapidly expanded its geographic footprint across Northern Europe and beyond. The platform now supports companies in Norway, Denmark, and the UK, and is increasingly adopted by global firms with remote employees in dozens of countries. Their expansion strategy relies heavily on local retail and leasing partnerships; by integrating with major regional IT suppliers, Velory ensures that companies can maintain localized procurement even when managed from a central HQ. Recent growth initiatives have focused on enhancing multi-currency and multi-language support (currently English, Swedish, Norwegian, and Danish) to better serve the needs of established multinational enterprises. While they maintain a strong Nordic identity, their presence in international tech hubs is growing through digital-first implementation and remote-friendly features.
In the last 12-18 months, Velory has introduced several high-impact features aimed at deep automation and security. A major release in 2024 was the 'Purchase Manager' role, which allows companies to decentralize approval flows by empowering team leads to approve their own members' requests. They also significantly overhauled their MDM integrations with Kandji, Microsoft Intune, and Hexnode, now allowing admins to view token and certificate expiration notifications directly within Velory. The introduction of 'Real-Time Stock Statuses' in the employee store has eliminated procurement delays by showing live distributor inventory. Looking toward 2025, the company has teased 'Mobile Subscription Management' and expanded 'Multi-Retailer' capabilities, allowing a single company to manage disparate suppliers across different global regions from a single dashboard.
Velory fosters a culture of 'Pragmatic Innovation' and 'Ownership,' reflecting its origins as a fast-paced scale-up. The company values transparency and speed, encouraging employees to 'own problems, not tickets.' Their work environment is highly collaborative, with a centrally located headquarters in Stockholm that offers modern perks like a daily team workout with a personal trainer and an office gym. Sustainability isn't just a product feature at Velory; it is a core value, with the team actively promoting 'Circular IT' practices internally and externally. They champion flexibility, offering remote and hybrid work arrangements, and provide employees with the same 'freedom of choice' for their own gear through the Velory platform, ensuring the team uses the very product they build for others.
Velory maintains an active community of IT professionals and HR leaders through its digital presence and educational resources. They host a comprehensive 'Helpcenter' and a 'Glossary' to help industry newcomers understand the complexities of ITLM. The 'Velory Blog' and 'Insights' section serve as a hub for data-driven reports, such as their annual analysis of the 'Most Popular Work Devices,' which helps IT managers optimize their procurement strategies. While they do not have a traditional user forum, they engage deeply with their customer base through success stories and partnership programs. Their presence at major European tech conferences and their status as an ISO-certified organization further solidifies their standing as a trusted thought leader in the sustainable IT and procurement communities.
