Ignite Procurement completes a $900k investment round backed by Snö, Arkwright X and Investinor.

Ignite Procurement, an Oslo, Norway-based software developer building tools for the procurement industry, announced that it completed a NOK 8M ($900k) capital investment round.

The funding was supported by a group of investors from Norway, including Snö Ventures, Arkwright X and Investinor. The money will be used to to scale the development of Ignite Analytics, the company's tool for strategic procurement.

Ignite Procurement, founded in 2016 by CEO Sigbjørn Nome and Børge Langedal, built a software solution called Ignite Analytics, aimed to support customers through the source-to-contract cycle – from spend analysis, identification of opportunities and risks, implementation and follow up. The tool is in use by clients including OBOS, AF Gruppen, Implenia, Felleeskjøpet and the Environment Directorate.