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Unquote
  • Expansion

TCV leads $150m series-B round for SaaS company Cognite

  • Eliza Punshi
  • Eliza Punshi
  • 20 May 2021
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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.  

Cognite

  • DEAL:

    Expansion (series-B)

  • VALUE:

    $150m

  • LOCATION:

    Oslo

  • SECTOR:

    Software

  • FOUNDED:

    2017

  • STAFF:

    450

Previous funding
In November 2020, Accel invested around $75m in Cognite for a minority stake. The deal then valued Cognite at $550m. 

Company
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.

People 
Aker – Øyvind Eriksen (president, CEO). 
TCV – Jake Reynolds (general partner). 

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  • Expansion
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