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

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.  

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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• Topics
• Expansion
• Accel Ventures
• Norway
• Venture