The Hague-based Cenosco BV, a Dutch provider of asset integrity management (AIM) software, announced a growth investment led by Summit Partners, with participation from existing investor Fortino Capital. The funding amount, however, remains undisclosed.
The partnership aims to support Cenosco’s product development, international expansion, and team growth.
Han Sikkens, MD and the Head of Europe at Summit Partners, who will join the Cenosco Board of Directors, says, “With growing global demand for asset efficiency and resilience, fueled in part by new AI use cases, operators are increasingly focused on improving reliability and reducing downtime. With a global footprint and a record of rapid, profitable growth, we believe Cenosco has built a highly differentiated platform that delivers measurable impact for industrial operators.”
“We look forward to partnering with Rahul Kejriwal and the Cenosco team as they continue to drive innovation and work to scale the business globally.”
Toon Smets, Investment Director at Fortino Capital, adds, “Since our investment in 2020, Cenosco and its management have successfully transformed from a service-oriented business into a highly growing SaaS vendor serving a well-diversified international customer base.”
“We believe the company is perfectly positioned to lead the digital revolution in asset integrity management and, together with Summit Partners, we are pleased to support Cenosco’s next phase of growth.”
A unified asset integrity management suite
Cenosco is a software company focused on asset integrity management for asset-heavy industries. Its Integrity Management Suite (IMS) supports inspection and maintenance decisions related to safety, asset availability, and cost management.
IMS uses risk-based inspection methodologies, real-time data, and probabilistic modelling to assist in scheduling and decision-making.
The platform provides system-wide asset insights to help operators manage critical components and maintenance strategies.
Cenosco reports that customers using its software have experienced up to a 20 per cent reduction in inspection costs, a 15 per cent decrease in major planned and unplanned downtime, and maintenance cost savings from asset failure prevention.
IMS is used by over 11,000 professionals and deployed in more than 200 assets across 40 countries. Cenosco’s clients include Shell, Equinor, and PTTGC.
The company aims to enable safe and efficient operations while maintaining environmental and worker safety.
Rahul Kejriwal, CEO of Cenosco, says, “Ageing infrastructure, supply chain shocks and rising environmental regulation, present significant challenges for operators in asset-heavy industries. Having the right technology is critical. At Cenosco, we are committed to providing solutions that empower our customers to make data-driven decisions, improve asset integrity and drive efficiency.”
“We are excited to partner with Summit, together with the ongoing support from Fortino Capital, as we continue to innovate, expand globally, and work to establish Cenosco as the industry standard for asset integrity and reliability.”
Brief about the investors supporting Cenosco
Summit Partners is a growth-focused investment firm that has invested in more than 550 companies across technology, healthcare, and other industries since its founding in 1984.
Its portfolio companies have completed over 175 public equity offerings, and more than 250 have been acquired through mergers and sales. Summit operates in North America and Europe, investing in profitable growth companies worldwide.
Fortino Capital is a European investment firm focused on high-growth B2B software companies. It manages two private equity funds and two venture capital funds. With offices in Belgium, the Netherlands, and Germany, Fortino invests in entrepreneurs across Europe.
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