Investinor backs CFEngine

Norwegian business angels fund Founders Fund also backed the company alongside Investinor.

CFEngine is Founders Fund's first investment in 2015 – the group plans to invest in a further 10–20 Norwegian companies over a three-year period.

Investinor investment manager Jon Øyvind Eriksen said the investment is an example of the VC's wish to invest in more small and scalable IT businesses.

Previous funding
Norwegian investment company Ferd first backed CFEngine in 2011, leading a €3.8m series-A round for the company in return for a 47% stake.

In 2014, Ferd sold CFEngine to secondaries GP Verdane, when the latter's Verdane Capital VIII acquired five Ferd portfolio companies.

Company
CFEngine develops software that tracks and updates IT systems automatically, to ensure clients have the desired configuration across their IT infrastructure at any given time.

Founded in 2007, the company has offices in Oslo and Palo Alto, and employs 30 people.

People
Jon Øyvind Eriksen is an investment manager at Investinor.

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