Ignite Procurement: From a Start-up to a Global Player in Digital Procurement

From a Start-up to a Global Player in Digital Procurement

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Press: Five years ago, Ignite Procurement was a start-up company with Norwegian public enterprises as customers for its cloud-based procurement tools. Today it is an international company with more than half its revenue coming from abroad, and the British public sector is next on the list.

It's also worth noting that Ignite Procurement, an entrepreneurial company on the way up in the world, has counted on around 60 employees since 2017. This includes an office in Poland with a whole product team of six employees. The company's annual income (mainly license income) has grown by almost 150% in the last 12 months and has now passed NOK 20 million.

Sigbjørn Nome, the CEO and Co-founder of Ignite Procurement, tells Anbud365 that half of the company's income now comes from foreign engagements. He also says: "Our ambitions are to continue to increase income as we advance at a high pace. At the same time, we must recognize that we would not have achieved the goals in our ambitious growth plan without investing in both the private and public sectors. With a focus only on the public sector, we would probably not be able to achieve fast enough growth."

Ignite Procurement is an internationally-oriented company with products based on a cloud-based platform that streamlines and develops public procurement. Although Norway is still an important market for the company, its product portfolio has gained a big impact outside the country's borders. Ignite Procurement has been focusing on Germany since 2021 and has gained more German customers recently. The latest is a German group with ~150 billion NOK turnover across 80 countries. On top of that, Ignite Procurement has secured a global agreement with one of the world's largest consulting companies, which rolls its customers onto our solution.

Ignite Procurement signed a contract with the Norwegian Tax Administration. The tax authorities had a tender for a spend analysis solution out and evaluated four offers, then chose Ignite as their partner. The agreement has a value of around one million kroner. Other players are the Norwegian Customs Authority, Ålesund municipality, and the Norwegian Environment Agency. Although capital markets have tightened in recent years, Nome can state that Ignite raised NOK 68 million in the capital – which gives them the funds they need to continue building their strategic purchasing platform.

Read the full article here: Start-up company five years ago - now an international player with a digital purchasing solution. 

PS. The article is in Norwegian but you can use Google Translate to read it. 

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