TCV invests in Cognite

CLP has acted as legal advisor to TCV in connection with its investment in Cognite AS. The investment marks one of the largest funding rounds for a SaaS company in Europe and confirms industrial digitalization as a global megatrend.

Cognite is a global leader in industrial SaaS, supporting the full-scale digital data-driven transformation of asset-intensive industries around the world.

TCV has since 1995 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 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. 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.

According to the press release from TCV, Jake Reynolds, general partner at TCV has commented: “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”.

CLPs core team included Jakob Villum, Hanne Heltne and Eline Thorsrud.

Further information is available here and here.