Year-end summary – A successful 2024

As 2024 draws to a close, we at Upgraded take this opportunity to reflect on the year’s most significant events. And what a year we’ve had!

Upgraded continues its exceptional growth journey
2024 has been a record year for Upgraded People AB. With full-year sales exceeding SEK 1.7 billion, compared to SEK 1.06 billion the previous year, the company has cemented its position as one of Sweden’s fastest growing B2B players. During the first nine months of the year, sales have grown by an impressive 72.5%. We have broken new sales records month after month and in October we reached a whopping SEK 185 million – the highest monthly sales in the company’s history.

Strengthened market positions and new business
During the year, we have continued to expand both in the private and public sectors. Developments have been particularly prominent in segments such as banking, finance, insurance, energy and the automotive industry. At the same time, we have strengthened our position in the public sector through new collaborations with government agencies, municipalities and regions. Among our new customers, we can proudly count the municipalities of Landskrona and Eslöv, the Swedish Post and Telecom Agency (PTS) and Södertörn.

In the technology area, AI, Business Intelligence and IT security have seen the strongest growth in inquiry volumes. In addition, demand for Swedish consultants has increased in the international market, especially in Germany and Denmark, where the weak Swedish krona has created competitive advantages.

A successful year for procurement and awards
In 2024, we have won several significant procurements, including a framework agreement with the Swedish Post and Telecom Agency (PTS) worth an estimated SEK 150 million and a four-year framework agreement with Almi AB with a ceiling volume of SEK 400 million. These successes have contributed to increased business volume, which in the first quarter rose by 80% compared to the same period in 2023. This is a clear indication of the market’s increased confidence in Upgraded.

Awards and recognitions
In 2024, we were, for the second year in a row, designated a Gazelle company, a feat that less than 1% of Swedish limited companies achieve. We also ranked 74th in the Upsales Revenue Journal Ranking, a list of Sweden’s fastest growing B2B companies with sales over 100 million SEK. This is a clear recognition of our ability to combine growth with long-term sustainability.

A year of community involvement
In addition to business successes, 2024 has been a year in which we have deepened our social commitment. A sustainable society and positive value creation through the services and solutions we deliver are important to us. We have actively participated in initiatives that are close to our hearts, including:

• The Pink Ribbon Health Challenge, where we helped raise awareness about the Swedish Cancer Society’s important work while inspiring each other to increase everyday exercise and raising money for breast cancer research.
• The Mustache Fight, where we focused on men’s mental and physical health and helped raise awareness and spread knowledge about prostate cancer.
• Music Help, where this year’s theme “Everyone has the right to survive their pregnancy” inspired us to raise money and spread awareness about this important issue.

It is through initiatives like these that we want to give back to society and show that our work goes beyond business. We are constantly trying to find new opportunities where we can make as big a difference as possible.

A big thank you for the past year
Behind our success are our fantastic employees, customers and partners whose commitment and trust are the foundation for our success and continued growth.

“I am incredibly proud of what we have achieved together and look forward with great confidence and anticipation to what 2025 will bring. Thank you for a fantastic year! Together we are building an even stronger future.”

– Birgitta Hedegård, CEO, Upgraded People AB