Technology-focused growth equity investor TCV has led a $150m series-B funding round for Norwegian software company Cognite, giving the company a valuation of $1.6bn.
The funding will allow the company to accelerate growth initiatives, including product development and international expansion.
TCV will own a 9.4% stake in the the company, while Aker will have a majority ownership of 50.5%. Accel Partners, which in November last year invested $75m in the company, is also a minority owner.
In November 2020, Accel invested around $75m in Cognite for a minority stake. The deal then valued Cognite at $550m.
Founded in 2017 and based in Oslo, Cognite is a software company whose flagship product, Cognite Data Fusion, helps industries with digital transformation. It currently has 450 employees.
Aker – Øyvind Eriksen (president, CEO).
TCV – Jake Reynolds (general partner).
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