Cognite, an industrial software as a service company that has its U.S. headquarters in Austin, announced this week that it has closed on a $150 million investment round.
That funding round values the company at $1.6 billion, earning the company’s unicorn status.
TCV, a private equity firm, led the round in Cognite, founded in
2017, which is based in Oslo, Norway. Cognite opened its North American business in
2019 and has grown to over 40people, withmore than half of our
employees in Austin.
TCV has a broad network and
expertise in successfully scaling technology companies, including Netflix,
OSIsoft, Splunk, Airbnb and Spotify.
“Cognite is building the future by redefining modern industrial data management,” Jake Reynolds with TCV said in a news release.
Cognite has
products in data and artificial intelligence which help companies run their
operations more effectively. Its customers include bp, Saudi Aramco, Alfa
Laval, Statnett, and Mitsubishi.“Cognite
is on a strong trajectory to help transform industry, and since our founding
four yearsago,
we have managed to attract top global talent, and partner with top industrial
companies to accelerate modern industrial data management worldwide,” John
Markus Lervik, CEO and co-founder of Cognite, said in a news release.
Cognite continues rapid
expansion with over 500 employees across offices in Europe, the United States,Asia, and the Middle East.