Investinor invests in Ignite Procurement AS

Published: 08.11.2019

Investinor has together with SNÖ and Arkwright X participated in a private placement of NOK 8 million in Ignite Procurement AS (“Ignite”). The new funds will position the company for continued growth and internationalization.

Ignite is an enterprise SaaS company which has developed a digital solution (Ignite Analytics) for strategic procurement. Through a cloud-based platform with direct integration to existing ERP-systems, Ignite Analytics will be able to analyze supplier data and optimize the procurement process. The company has a fully developed product, strong growth in ARR and a dedicated team with domain expertise within strategic procurement processes from one of Norway’s leading consulting companies (BCG). Further, the company has already proven its value proposition in the market, having secured customers such as OBOS, AF Gruppen, Implenia, Felleskjøpet and Miljødirektoratet.

– Ignite has a strong team, which has proven to be skilled in both the technical and commercial domains. With a strong customer base, scalable product and robust syndicate, it is Investinor’s ambition that the company will become the leading player internationally within its niche, says Investment Manager Pål Breiland.

See article in Finansavisen 08.11.2019

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