Cognite Secures $150 Million Investment from TCV to Accelerate Digitalization of Global Industries
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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210519005536/en/
Dr. John Markus Lervik, CEO and co-founder of Cognite (Photo: Business Wire)
“Cognite has had a remarkable growth journey since its founding in 2017, attracting top talent from across the globe, working feverishly to develop, deploy and verify the impact from its industrial software technology. As the global growth continues across industry verticals, there is significant interest from companies to partner with Cognite. We are very pleased to welcome TCV, a top-tier growth equity firm, on board, especially given their strong track record from building and scaling enterprise software companies globally,” said Øyvind Eriksen, President and CEO of Aker. “The investment is a testament to the Cognite growth journey so far and to its future potential. Moreover, it highlights the significant value creation taking place in Aker’s industrial software portfolio.”
TCV has a broad network and expertise in successfully scaling technology companies, including Netflix, OSIsoft, Splunk, Airbnb and Spotify. This new partnership allows Cognite to harness TCV’s expertise in international expansion for industrial software companies and complements earlier funding by global venture capital firm Accel, as both are committed to backing category-defining businesses. The partnership coupled with Aker, Cognite’s majority stakeholder, will accelerate the full-scale data-driven transformation of legacy industries to help make them more sustainable and profitable through digitalization and data. As part of the transaction, Jake Reynolds, general partner at TCV with a 20-year history in venture capital and technology investing, is joining the Cognite Board of Directors.
“Cognite is building the future by redefining modern industrial data management,” said Jake Reynolds. “Cognite is emerging as a leader of the pack through their proven industrial software-as-a-service (SaaS) solutions as the world turns to digitalization to truly transform, and we look forward to partnering with them to revolutionize the industry as they grow and scale.”
Cognite’s flagship Industrial Data Ops product: Cognite Data Fusion (CDF) is currently digitalizing asset-intensive industries globally by making industrial data more accessible and meaningful to humans and machines, enabling clients to create value through AI-based applications and solutions. CDF is also a critical tool used by companies to actively participate in the energy transition through data liberation and contextualization to address transparency, accountability, and sustainability. CDF is deployed by Cognite customers worldwide including: bp, Saudi Aramco, Alfa Laval, Statnett, and Mitsubishi.
“Cognite is on a strong trajectory to help transform industry, and since our founding four years ago, we have managed to attract top global talent, and partner with top industrial companies to accelerate modern industrial data management worldwide,“ said Dr. John Markus Lervik, CEO and co-founder of Cognite. “The partnership with TCV allows us to amplify our software solutions to empower asset-intensive businesses to improve their sustainability and profitability of operations, and perfectly complements the extensive industrial knowledge brought in by our majority shareholder, Aker.”
Cognite continues rapid expansion, growing in valuation threefold since November in part due to a global collaboration with Microsoft and inclusion as a Top 200 Global Independent Software Vendor (ISV), a partnership with Accel, and post COVID demand for digitalization across industries. Cognite was founded in 2017 and is one of the fastest-growing industrial software companies in the world with over 500 employees across offices in Europe, the United States, Asia, and the Middle East.
About TCV
Founded in 1995, TCV was established with a clear vision: to capture opportunities in the technology market through a specialized and consistent focus on investing in high-growth companies. Since inception, the firm has built a track record of successfully backing public and private businesses that have developed into dominant industry players across internet, software, FinTech, and enterprise IT. TCV has invested over $14 billion to date and has helped guide CEOs through more than 125 IPOs and strategic acquisitions. TCV has invested in cutting edge technology companies including OSIsoft, Airbnb, Brex, ByteDance, Facebook, Hotmart, Netflix, Peloton, Spotify, Zillow, Clio, Redis Labs, Klarna, Mollie, Nubank, Payoneer, Revolut, Toast, Wealthsimple and WorldRemit. TCV has successfully executed over 350 investments of varying structures, including mid-stage, late stage and public company investments, and has offices in Menlo Park, New York, and London. For more information about TCV, including a complete list of TCV investments, visit https://www.tcv.com/.
About Cognite
Cognite is a global industrial software-as-a-service (SaaS) company supporting the full-scale digital data-driven transformation of asset-intensive industries around the world. Our 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 powers companies with contextualized OT/IT/ET data to develop solutions that increase safety, sustainability, efficiency and drive revenue. Visit us at www.cognite.com and follow us on Twitter @CogniteData or at LinkedIn: https://www.linkedin.com/company/cognitedata
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210519005536/en/
Contact information
Michelle Holford Global PR Lead, Cognite
+1 (512) 744-3420 (US) or +47 482 90 454 (Norway)
michelle.holford@cognite.com
Katja Gagen Head of Marketing at TCV
+1 (415) 690-6689
kgagen@tcv.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
ElevenLabs-Powered Chroma Awards Opens Call For Submissions, With November 3 Deadline15.9.2025 16:00:00 EEST | Press release
Chroma Awards, a groundbreaking AI Film, Music Video, and Games competition organized by ElevenLabs, the leading AI audio research and product company, announced today that submissions are open for its inaugural competition, with a November 3 deadline. Competition participants can access free trials of AI tools provided by sponsors starting today at https://pack.chromaawards.com/. The Chroma Awards was established with the mission to educate, empower, and spotlight the next generation of artists and showcase how AI can empower human creativity. The competition is organized by ElevenLabs and presented by Google Cloud, Freepik, fal, Dreamina AI, and CapCut. “Through this initiative we hope to unite creators, communities, and companies across the world to bring emerging technology and creative talent together in dialogue,” said Matty Shimura, Chroma Awards. “We’re incredibly grateful to our partners for their support in bringing this competition to life, and we look forward to seeing the
33 Innovators Join Morgan Stanley Inclusive & Sustainable Ventures Cohort15.9.2025 15:08:00 EEST | Press release
Morgan Stanley (NYSE: MS) today announced the global cohort of its Inclusive & Sustainable Ventures (MSISV). With founders from the Americas and Europe, the Middle East and Africa (EMEA), the 2025 MSISV cohort will support 29 startups in its Lab and four emerging nonprofits in its Collaborative, two in-house accelerators that will run over the next five months. Selected from thousands of applications, the 33 organizations will engage in a tailored entrepreneurship curriculum and receive mentorship and business-growth resources from Morgan Stanley’s ecosystem of internal and external partners. The firm will invest $250,000 (£250,000 in EMEA) in each startup and provide each nonprofit with a $250,000 grant. “Morgan Stanley Inclusive & Sustainable Ventures brings the integrated power of our firm to support early-stage innovators in today’s dynamic venture capital environment,” said Jessica Alsford, Morgan Stanley Chief Sustainability Officer. “We are proud to back this global cohort of ch
AmTrust Financial Services and Blackstone Credit & Insurance Enter Into Strategic Transaction for AmTrust’s Global MGA and Fee Businesses15.9.2025 15:00:00 EEST | Press release
AmTrust Financial Services, Inc. (“AmTrust” or the “Company”), a global specialty property casualty insurer, and Blackstone Credit & Insurance (“BXCI”), today announced a definitive agreement under which AmTrust and funds managed by BXCI will partner in the spin-off of certain of AmTrust’s Managing General Agencies (“MGAs”) and fee businesses in the U.S., United Kingdom, and Continental Europe into a new, independent company. AmTrust and the newly formed company will enter into a ten-year capacity agreement through which AmTrust will remain underwriter of the existing books of business offered through the MGAs. The agreement includes seven AmTrust subsidiaries: ANV, Risico, Collegiate, AmTrust Nordic, Arc Legal, Qualis, and Abacus. These businesses provide diverse risk and insurance coverages including cyber excess and surplus (E&S), directors and officers (D&O), transaction risk insurance, professional indemnity, legal expense, mortgage and structured credit, warranty, agricultural wo
Helmholtz Munich and Parse Biosciences GigaLab Generate World’s Largest Human Lung Tissue Perturbation Atlas15.9.2025 15:00:00 EEST | Press release
Helmholtz Munich and Parse Biosciences today announced a strategic partnership to generate the world’s broadest lung disease perturbation atlas, powered by Parse Biosciences’ GigaLab platform. Using a human lung ex-vivo tissue slice culture model from normal control donor lungs as well as explant lung tissues from patients with chronic lung disease, the study aims to identify novel targets and cell circuits in lung health and disease by characterizing disease-specific responses of cells to 900 pharmacological interventions. Prof Herbert Schiller, Director of Helmholtz Munich’s Precision Regenerative Medicine Research Unit, and a leading researcher on lung biology and disease, will head this ambitious initiative. “Measuring the effects of drug treatments at single cell level directly in human lung tissue at scale, will help us to find strategies that improve lung tissue regeneration, which may lead to the targeted combination therapies of the future,“ states Schiller. Prof Fabian Theis,
Red Sea Global Unveils Shura Island: A New Era of Luxury Tourism Begins This September15.9.2025 14:30:00 EEST | Press release
Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red Sea and AMAALA, has announced that the first resorts and attractions on Shura Island will begin opening to guests in the coming weeks. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250915221123/en/ The EDITION Red Sea, opening soon on Shura Island features 240 elegantly designed rooms and suites. Phase one of the launch includes the debut of SLS, EDITION, and InterContinental hotels, along with Shura Links, Saudi Arabia’s first island golf course. This moment marks a major milestone for RSG as it continues making Vision 2030’s ambitions for national transformation and economic diversification a reality for the people of Saudi Arabia, as well as demonstrating the possibility of regenerative tourism. “As the heart of The Red Sea, Shura Island represents everything Red Sea Global stands for: bold ambition, deep respect for nature, and a commit
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom