Cenosco receives growth investment from Summit Partners for further international expansion.
Cenosco, a leading provider of asset integrity management (AIM) software, has received a growth investment led by Summit Partners, with additional support from existing investor Fortino Capital. This investment aims to accelerate Cenosco’s product innovation, international expansion, and team growth.
Cenosco offers an innovative software solution that enables companies in asset-intensive industries, such as oil & gas, chemicals, and energy, to improve safety, reliability, and operational efficiency. Cenosco’s Integrity Management Suite (IMS) is deployed globally by major industrial players such as Shell, Equinor, and PTTGC. Currently, more than 11,000 professionals in over 40 countries use the software.
Accelerating innovation and growth
"At a time when aging infrastructure, supply chain disruptions, and stricter environmental regulations present challenges for operators, having the right technology is crucial", says Rahul Kejriwal, CEO of Cenosco. "Our solutions enable customers to make data-driven decisions, improve asset integrity, and increase operational efficiency. We are excited to partner with Summit Partners and to have the continued support of Fortino Capital as we further develop our innovations and accelerate international growth."
Cenosco’s IMS solution, developed by engineers for engineers, is based on 25 years of experience and risk-based inspection (RBI) methodologies. The software utilizes real-time data and probabilistic models to optimize inspection and maintenance planning. Customers report savings of up to 20 percent on inspection costs and a 15 percent reduction in planned and unplanned production downtime.
Strong international position
Han Sikkens, Managing Director and Head of Europe at Summit Partners, will join Cenosco’s Board of Directors. “With the growing demand for reliable and efficient asset management solutions, Cenosco plays a key role in the industry”, says Sikkens. “The company has a global footprint and an impressive growth profile. We look forward to working with the Cenosco team to drive further innovation and scalability.”
Fortino Capital, which has been investing in Cenosco since 2020, also sees significant potential in the company. “Cenosco has successfully transformed from a service-oriented organization into a rapidly growing SaaS provider with a well-diversified international customer base”, says Toon Smets, Investment Director at Fortino Capital. “Together with Summit Partners, we support Cenosco in its next phase of growth and in leading the digital revolution in asset integrity management.”
With this strategic investment, Cenosco takes an important step toward further globalization and strengthening its market position as a leading provider of asset integrity management software.
