Ardoq announced a $26 million Series C funding round backed by Altitude Capital and Norselab

Ardoq, an Oslo, Norway-based SAAS developer of an Enterprise Architecture (EA) platform, announced completing a NOK 225M ($26 million) funding round, in what they call a series C.

The money was raised from a range of backers including local investors from Norway Altitude Capital, Norselab as well as private investors, family offices and pension funds whose name remained undisclosed. More than 70 employees are also investing a total of more than $1 million.

The founders now own 14.5% of the company, while the employees own 7.6% of the shares.

The fundraise comes as Haakon H. Jensen, CEO of Bertel O. Steen Kapital and former chief executive of Investinor, takes over as chairman and co-founder Erik Bakstad steps into the CEO role permanently.

Bakstad takes over as CEO after holding the role on an interim basis in recent months. Bakstad co-founded Ardoq in 2013 and has previously served as both CTO and CPO.

Jensen joined the Ardoq board in June 2020 when BOS Kapital participated in a share issue in which Ardoq raised a total of $7 million.

Ardoq, founded in 2013, develops enterprise architecture software intended to optimize the application portfolio ecosystem. The company's software offers business capability mapping, risk, and security architecture, as well as dataflow integration, featuring general data protection regulation (GDPR) compliance, enabling businesses to easily collaborate and have an overview of their projects in real-time while driving cross-organizational digital transformation and mitigating risks.