Cognite Secures $150 Million Investment from TCV to Accelerate Digitalization of Global Industries
Cognite becomes unicorn as funding round raises Cognite s valuation to $1.6 billion, backing is one of the largest private investment rounds for a SaaS company in Europe Cognite, a global leader in industrial software innovation, announced today that it has signed an investment round of $150M with leading global growth equity firm TCV, valuing the company at $1.6B. This investment marks one of the largest funding rounds for a SaaS company in Europe and confirms industrial digitalization as a global megatrend. The new valuation round constitutes unicorn status for Cognite.
Aker ASA: Cognite Announces USD 150 Million Investment by TCV
OSLO, Norway, May 19, 2021 /PRNewswire/
Aker ASA ( Aker ) today announced that Cognite has raised USD 150 million in a Series B investment by TCV, a leading technology-focused growth equity firm. The new funding round will allow Cognite to accelerate growth initiatives, including product development and international expansion. The investment round values Cognite at USD 1.6 billion, marking one of the largest private founding rounds for a Software-as-a-Service (SaaS) company in Europe.
The Series B investment round comes as Cognite continues to experience significant customer growth and is scaling globally. Cognite s flagship product, the software platform Cognite Data Fusion (CDF), helps industries with digital transformation by liberating, safeguarding, and translating data from sensors, systems, and other sources into one common language. The data contextualized by CDF empowers companies to drive industrial applic
Cognite, an Oslo, Norway-based industrial software innovation company, received a $150M investment from TCV.
The round valued the company at $1.6 Billion. As part of the transaction, Jake Reynolds, general partner at TCV, is joining the Cognite Board of Directors.
The company intends to use the proceeds from the investment for international expansion.
Led by Dr. John Markus Lervik, CEO, Cognite Cognite is a global industrial software-as-a-service (SaaS) company supporting digital data-driven transformation of asset-intensive industries around the world. Its core product, Cognite Data Fusion (CDF), is an industrial data operations and contextualization platform, putting raw data into real-world industrial context, enabling rapid application & solution creation at scale. CDF allows companies to access to contextualized OT/IT/ET data to develop solutions to increase safety, sustainability, efficiency and drive revenue. Customers include bp, Saudi Aramco, Alfa Laval, Statnett, and M
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