Cognite Secures $150 Million Investment from TCV to Accelerate Digitalization of Global Industries
19.5.2021 15:50:00 EEST | Business Wire | Press release
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
Pinion Insurance Appoints Gary S. Maier as US CEO29.9.2026 15:31:00 EEST | Press release
Pinion Insurance, the London-headquartered specialty insurance carrier established earlier this year, today announced the appointment of Gary S. Maier as US Chief Executive Officer, effective today. Maier brings nearly four decades of insurance industry experience across underwriting, distribution, MGAs, product development, and corporate development. He will lead Pinion’s US operations and drive the expansion of its specialty insurance platform, which provides capacity to MGAs across the US, UK and European markets. “Gary’s experience is a strong fit with Pinion’s focus on underwriting excellence, innovation, and close collaboration with MGAs,” said Laura Baird, Pinion Co-Founder and Group Chief Technology Officer. “He is a highly respected industry leader and innovator, and we are delighted to welcome him to the team.” Maier joins Pinion from Ledger Risk Markets, where he served as CEO, and Ledger Investing, where he was Chief Revenue Officer. At Ledger, he led the development of cas
New AI Research from GFT Technologies: 84% of CIOs Have Canceled an AI Project Over Legacy System Limits29.9.2026 15:07:00 EEST | Press release
A new AI study from GFT Technologies, an AI-centric global digital transformation company, finds that legacy infrastructure is one of the biggest obstacles to enterprise AI success, with the vast majority of technology leaders reporting it has forced them to abandon AI initiatives. The GFT survey, conducted by Wakefield Research among 945 CIOs and CTOs across 19 countries at companies with at least $500M in annual revenue (fielded August 11-31, 2026), reveals that AI's promise and its risks are accelerating in tandem. Key themes include legacy infrastructure undermining AI initiatives, skepticism over AI's return on investment, geopolitical and regulatory uncertainty reshaping strategy, distrust of how companies explain workforce decisions, and rising personal risk for technology leaders. “AI adoption is moving quickly, but our research shows that enterprises are increasingly recognizing the importance of the foundation underneath it. For many organizations, legacy infrastructure is be
Kyowa Kirin and Knight Therapeutics Enter Into Exclusive Distribution Agreement for POTELIGEO ® (mogamulizumab) for Cutaneous T-Cell Lymphoma (CTCL) Patients Across Latin America29.9.2026 15:00:00 EEST | Press release
Kyowa Kirin International, a wholly owned subsidiary of Kyowa Kirin Co., Ltd. (TSE:4151, Kyowa Kirin), today announced the signing of an exclusive distribution agreement with Knight Therapeutics (“Knight”) (TSX: GUD) for the distribution of mogamulizumab in select countries in Latin America. Under the terms of the agreement, Knight will be responsible for seeking the necessary regulatory approvals and commercialising mogamulizumab for mycosis fungoides (MF) and Sézary syndrome (SS), two subtypes of CTCL, a rare non-Hodgkin’s lymphoma, in Argentina, Brazil, Colombia and Mexico. Knight will hold exclusive distribution rights for the medicine in these markets. Kyowa Kirin and Knight’s collaboration aims to support CTCL patients and improve their access to innovative therapies in Latin America. Céline Rhême, Cluster General Manager, Emerging Growth Markets, Kyowa Kirin, commented: “CTCL is more common in this region than many realise, and further work is needed to identify unmet needs and
Heaviside Industries Awarded $99M IDIQ Contract to Provide MOTH Spectrum Analyzers to U.S. Army29.9.2026 15:00:00 EEST | Press release
Heaviside Industries, a builder of multi-domain precision munitions platforms, announced it has been awarded a $99 million firm-fixed-price, indefinite delivery, indefinite quantity (IDIQ) contract by the U.S. Army to deliver its MOTH radio frequency (RF) spectrum analyzers in support of the Army’s electromagnetic spectrum operations (EMSO) priorities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260929455358/en/ The five-year contract was awarded by U.S. Army Contracting Command at Aberdeen Proving Ground, Maryland and includes system procurement, fielding, upgrades, and sustainment. As unmanned systems proliferate and adversaries increasingly exploit the electromagnetic spectrum, the Army requires EMSO capabilities that are scalable, adaptable, and rapidly fieldable to maintain an advantage in the spectrum. Heaviside’s MOTH meets this need with real-time, passive RF detection in a low size, weight, power, and cost system
Royal Yacht International Represents Buyer in Landmark 132M Lürssen as Founder Predicts: “The Billion-dollar Yacht Is Coming”29.9.2026 15:00:00 EEST | Press release
Royal Yacht International has announced PROJECT M, a fully custom 132-metre Lürssensuperyacht exceeding 6,000 GT. But for Royal Yacht International Founder and CEO Tommaso Chiabra, the project is less about size than what it represents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260928365204/en/ Project M At the very top of the luxury market, the world’s most exceptional yachts are becoming increasingly difficult to reproduce. Only a small number of shipyards can execute projects of this scale. Construction takes years. Specialist capacity is finite. Build slots are scarce. And replacement cost can change dramatically between contract signing and delivery. “People look at purchase price. Sophisticated owners look at replacement value. What would somebody have to spend, and how long would they have to wait, to recreate your yacht when it is delivered?” For RYI, this is changing the role of the yacht broker. HUNDREDS OF MI
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