Cognite is an industrial software company that gathers, processes and manages enormous volumes of data for its industrial customers.
The company’s main product, Cognite Data Fusion (CDF), gathers and processes enormous volumes of data for industrial customers. Data from several sources is available as useful information to employees and contributes to safer and more efficient decisions.
Aker's ownership agenda
Aker holds 50.5 per cent of the shares in Cognite. Cognite is growing rapidly, and as the main shareholder, Aker is driving forward an ambitious expansion into a growing global market for industrial software. International expansion, continued recruitment of talented individuals from across the globe, strengthening of customer relationships, and strategic partnerships and cooperation opportunities remain important items on Aker’s ownership agenda. Aker will work close with Accel, a new minority shareholder in Cognite, to further scale and commercialize Cognite’s core product, Cognite Data Fusion (CDF) for the global market.
Øyvind Eriksen represents Aker on Cognite’s board of directors
Cognite Data Fusion (CDF)
Industries like manufacturing, energy and shipping, have yet to have their iPhone moment in digitalization. Data is locked in separate systems and sensors, and other barriers to change impede their digital transformation and trigger inefficiencies. Cognite’s main product, CDF, solves that challenge by breaking down silos, liberating operational data from all relevant sources, and enabling smart applications that can improve operations, optimize production, reduce energy consumption, and improve efficiency.
Saudi Aramco and Cognite to accelerate industrial digitalization
Saudi Aramco Devlopment Company and Cognite have signed an agreement to establish a joint venture as part of a strategic digitalization partnership, focusing on industrial digitalization and sustainability in Saudi Arabia and the broader Middle East and North Africa region. The joint venture will develop, distribute and deploy end-to-end digital and advanced solutions for customers across industries, including oil and gas, power and utilities, manufacturing and shipping. The joint venture is expected to be operational in 2021.
Cognite’s growth journey continues with 1.6 billion dollar valuation
In October 2020, Cognite entered a partnership with Accel, a leading global venture capital firm with deep domain experience and expertise in building world class software companies. Accel’s insight and expertise in scaling and commercializing software companies globally marries perfectly with Aker’s deep industrial knowledge to accelerate Cognite’s growth.
Seven months later, TCV, a leading growth equity firm with decades of experience in scaling technology companies, became the third largest shareholder in Cognite. The Series B investment gives Cognite a post-money valuation of USD 1.6 billion.
Together, Aker, Accel and TCV will continue the ongoing work to accelerate Cognite’s growth initiatives, including product development, honing the go-to-market strategy, and scaling CDF globally.