Insights from Collective[i]: How Data-Driven Decision Making is Transforming the B2B Sales Industry to Be More Efficient, Accurate, and Optimized for Success

Growth Hacks – Moving the Metric

As the founder of Collective[i], a leading platform for AI-enabled digital sales, Stephen Messer spends a great deal of time thinking about how sales organizations can better use technology to drive intelligent transformations of their sales processes. As Stephen has seen firsthand, one of the biggest pain points for any sales organization is manual data entry. While the process can be cumbersome, the need for accurate lead capture is higher than ever. Sales decisions have been shifting away from one to two points of contact towards a circle of influence that can involve multiple members of a target business, and by leaving a bulk of those decision makers out of a CRM, both sales and marketing teams are denying themselves the ability to leverage their connections to this larger team of decision makers. What’s worse, they’re limiting their ability to analyze this data that would help them better understand a target’s buying decisions and optimize the best route to close deals and influence their own go-to-market strategies. 

In the latest episode of Growth Hacks, Stephen breaks down for Kunal and Katja the reason that he believes the B2B sales industry is on the precipice of undergoing a major digital transformation that will move the field away from its existing qualitative mentality into one driven by data-heavy analysis that can actually move the needle. He walks us through some of the surprising takeaways he’s seen through Collective[i]’s Intelligent WriteBack product, such as the fact that most sales teams spend 20% of their time – up to an entire day per week – on forecasting and predictions that often don’t yield highly accurate results. He offers solutions for ways that sales teams can better think about forecasting and predictions, and explains how better data capture and data analysis will allow for better modeling and optimization of go-to-market strategies in both the short and long term for businesses that are willing to invest time into better data capture. 

Key Takeaways: 

  • Why companies are still wasting time on ineffective forecasting, and ways to do it better.

    One of the major themes that Stephen has seen through Collective[i]’s platform is that organizations are still spending roughly 20% of their time working on forecasting. When looked at from a different lens, that’s one day per week that’s being dedicated to a non-revenue producing task. Compounding the issue is the fact that it is rare for marketers to predict the future, which means that one-fifth of each week is spent chasing an accuracy rate that may never be reached. Collective[i] instead leverages its AI-powered platform to better understand what’s changing in a business’ landscape on a day-to-day scale. While it can be easy to get sucked into the standard model of months-ahead forecasting, Stephen suggests using data to understand how the world is changing in the near term. As he puts it, “What [boards] really want to understand is how the daily change is affecting their likely future, so that they can decide, ‘Do I open up the budget or do I close it down?’ They want to make sure they’re on track, that it’s reliable, and that everything is predictable.”
  • How the sphere of influence in purchasing decisions has grown to involve larger networks.

    As any salesperson knows, one of the largest challenges of managing a CRM database is the time spent on manual data entry. While skipping the process of entering leads may seem like a minor trade-off to make in pursuit of revenue-generating activities, Collective[i] has seen that the sphere of influence in purchasing has expanded significantly. What used to be one or two contacts has now become seven to eight buyers involved in a transaction, many of whom remain unknown to the larger sales and marketing organizations. Stephen estimates that these days, roughly 70% of people involved in a deal never even make it into a CRM. But if sales organizations start paying attention to the importance of making sure those contacts are accounted for, it becomes imminently clear that purchasing decisions are influenced by a much larger group. 

    “It changes the way you think about how the buyer is going through their buying process, and that can give you a real advantage if you know who’s there,” says Stephen. “Take account-based marketing. If you never know who’s there, and you don’t know the personas, you’re not going to be able to get that marketing tailwind from your organization simply because you can’t get that information into the CRM.”
  • Ways that AI can help sales teams to better understand buying decisions and optimize go-to-market strategy.

    Once teams begin to internalize the idea that buying decisions are made by a larger circle of influence, they can unlock the value in all the data being collected around buying decisions. Companies can better leverage opportunities using the full force of their networks, and capitalize on the social connections that can be uncovered through that data. By using AI, sales organizations can take this one step further. Rather than sifting through contacts in a CRM to find the best set of first and second-degree connections to a circle of influence, B2B sales organizations can use technology to analyze large data sets and better understand how buying decisions are made by that buying group. “If I can observe that same buying group across multiple sellers, it allows us to really start making good predictions about when they do this, what it means, or what they’re going to do next. And then we can look across an even larger network to start to understand what people do that leads to certain wins or losses,” explains Stephen. 

    Once those predictions are being put into action, savvy sales organizations can even use the data from their hits and misses to optimize their go-to-market strategy for the future. “The cool part of AI is that you can run the time forward [and say] here is the stack pattern of what we’ve done today. What is the optimal thing [I] can do next? How do I personalize my sale to the way this buying group likes to buy?” 
  • Why Stephen is bullish on sales organizations changing their operational playbooks as the industry further digitizes.

    As evidenced by the data Stephen has collected on time overspent on forecasting, it’s apparent that the sales industry is ripe for changing how it has operated in the past. For decades the industry has operated on a qualitative model of decision making, but Stephen and his team at Collective[i] are confident that the industry will begin to move towards a much more data-driven sales process. “The biggest myth is that sales organizations are going to continue to operate in the same way they’ve done over the last 30 to 40 years. I think a lot of people are tweaking around the edges. I see this as a transition from being a very qualitative, very opinion-based world, to a very quant heavy world,” says Stephen. 

    While the concept may seem cumbersome, leading organizations to believe they shouldn’t rock the boat, he implores companies to remember that change isn’t as hard as it seems – after all, brand marketers were able to adapt to a new generation of digital marketing over the past decade, and in the last couple years alone, many organizations that had never used tools such as video conferencing quickly adapted to a new remote normal in a matter of weeks. “I think sales is going through a huge transition as it digitizes, and that will change everything about how we operate for the better,” says Stephen.


The views and opinions expressed are those of the speakers and do not necessarily reflect those of TCMI, Inc. or its affiliates (“TCV”). TCV has not verified the accuracy of any statements by the speakers and disclaims any responsibility therefor. This interview and blog post are not an offer to sell or the solicitation of an offer to purchase an interest in any private fund managed or sponsored by TCV or any of the securities of any company discussed. The TCV portfolio companies identified, if any, are not necessarily representative of all TCV investments, and no assumption should be made that the investments identified were or will be profitable. For a complete list of TCV investments, please visit For additional important disclaimers regarding this interview and blog post, please see “Informational Purposes Only” in the Terms of Use for TCV’s website, available at

TCV Welcomes Edie Ashton as Chief Information Officer

Over the past 26 years, we have grown our portfolio companies and our own team to a point where TCV is operating across three offices in the U.S. and Europe. Due to the scale and global reach of our organization, we are excited to expand TCV’s executive talent to take us to the next level.

As such, we are thrilled to announce that Edie Ashton is joining the firm as Chief Information Officer (CIO). Edie was previously at The Carlyle Group, where she spent nine years, most recently serving as segment CIO for Global Private Equity. Adding Edie to our leadership team is a critical piece of our growth trajectory and demonstrates our ongoing commitment to deploy modern technology in support of our data-centric culture.

Edie comes to TCV with deep experience in both financial services and data strategy. As CIO, she will help advance growth by focusing on talent excellence, agility, and innovation in areas such as applied AI and distributed infrastructure—bringing a deeper alignment of IT and TCV’s core business as we pursue seamless global collaboration and acceleration of our investment platform.

Edie started her career at the Capital Group and Jefferies & Company, before enjoying a decade-long run in the telecom industry, implementing data warehouses and analytics platforms at global brands such as Nextel, Sprint, and RCN. At Carlyle, Edie proved herself a versatile business-oriented technologist who introduced the first data governance program and established a diversity and inclusion plan for the IT division.

“Edie is joining TCV at the right time,” says Nathan Sanders, General Partner and Chief Operating Officer at TCV. “We are experiencing significant growth and expansion of our team globally and have seen the benefits of leveraging sophisticated IT technology across our portfolio and TCV. Edie is a proven IT leader and tech visionary, focused on results that advance the whole organization. We are thrilled to welcome her to the TCV family.”

Expanding Your Slate of Storytellers: How Cognite Uses Talent Across its Organization to Drive Global Visibility and Media Coverage

Building out a global communications operation that can create visibility across multiple markets can feel like a wild jumble of storytelling across time zones, especially in a startup’s nascent years. That’s why the marketing and communications team at Cognite, a SaaS company providing data liberation and contextualization services to industrial organizations, aligned behind a single goal: creating visibility immediately. The Cognite team took a unique approach to the task at hand. Rather than blitzing journalists across the globe as its first order of business, the team worked to build visibility inside Cognite, recruiting outside the box spokespeople and identifying unearthed story ideas that resonated with journalists.

In today’s episode of Growth Hacks, Katja and Kunal speak with Michelle Holford, the Oslo-based global head of public relations at Cognite. Michelle walks us through the power of relationship building both within your own organization and with journalists, and why nurturing those connections are a fundamental piece of Cognite’s PR strategy. She also explains how Cognite keeps employees connected across the globe, how to create a message in a box and how their media strategy helps Cognite constantly mine for creative stories.

Here’s what you’ll learn:

  • How to identify and media train non-traditional spokespeople for creative storytelling
  • Effective strategies for story mining throughout an organization
  • Cognite’s strategy for running media tours
  • The unexpected storytelling benefits of developing Cognite Radio, a news channel with updates for employees
  • Michelle’s must-haves for running a healthy global PR function that is aligned across all forms of earned and owned media

To hear more on this, settle in and press play. 

Please find the transcript below, which has been edited for brevity and clarity.

Katja Gagen: Hey everyone. Today we’re being joined by a PR expert in a truly global industry. It is my pleasure to introduce Michelle Holford, who is the global head of public relations at Cognite. Michelle has held roles in agencies that covered massive brands, like Ford, Bank of America, and Walgreens. We’ll cover a lot today, so get your popcorn ready. Michelle, welcome to Growth Hacks.

Michelle Holford: Thank you so much. Thanks for having me.

Kunal Mehta: Sure. Hey, Michelle, where does this podcast find you today?

Michelle Holford: Today you find me in the great state of Texas. Our global headquarters are in Oslo, Norway, where I live, but I’m connecting with our North American headquarter team today in Austin, as well as Houston.

Kunal Mehta: Fantastic, a true global citizen. Well, for our listeners that may not know what Cognite does, give us the elevator pitch.

Michelle Holford: We’re in the business of industrial transformation. We’re here to change the world, and that means we’re here to solve the challenge of asset intensive industries and their data issues.

Data intensive industries are oil and gas, power and utilities, and manufacturing. And they have the challenge of consuming and creating all sorts of data that isn’t connected. We provide the solution through Cognite Data Fusion, which is our industrial data ops platform, that liberates data, it contextualizes it and makes it actionable for everyone across the company.

Why companies choose us is because we turn their raw data into business value. In those industries, whether it’s oil and gas that needs to work on sustainability or product optimization, we’re here to connect and contextualize that data so that they can use it, as well as manufacturing with supply chains or power and utilities with grids and smart maintenance. If I could just give a quick illustration. In our personal lives, when we want to find what the weather looks like, we turn to our iPhone. And it connects our data and tells us what it’s going to look like in different parts of the world for weather or where to eat through Yelp.

It’s all connected. So that’s happening in our consumer world, but in industry, especially asset intensive industry, it’s kind of like 1984. There’s large amounts of data that come from different sources, whether it’s images or Excel sheets, and they’re not connected. We’re here to take that raw data and turn it into business value for heavy asset industry, because they haven’t had their iPhone moment.

Katja Gagen: That’s awesome. And Michelle, you lead communications and PR. How do you strategically plan PR and what are some of the key initiatives you’re driving at Cognite?

Michelle Holford: When I joined Cognite a year and a half ago, we were only three and a half years old, small, but mighty and on a huge trajectory. It was very important to create visibility immediately. We had wonderful clients, some of them supermajors from around the world, but we needed to tell the world about what we were doing.

We’re very visible in the Nordics and around Europe, but we’re planting a flag in the North American region, as well as Singapore, Japan, and the UK. So immediately I needed to create visibility, both for myself and our MarComms team in the company. So that we had the buy-in and connectedness with sales, product marketing, the executive management team.

Visibility was number one. And I had to make sure that I was playing both sides of the track to create visibility, both for Cognite, but also for our function within the company. We had to really get our in-house together, we built a studio at Cognite to make sure that we could media train and make sure everybody was on board.

That included connecting initially with partners, whether it was Microsoft or Pinnacle or whoever we were partnering with to make sure that I understood their best stories and how we could work together.

It meant developing a media bench of spokespeople across ages and expertise in different locations around the world. It was really about strengthening an already great program and adding the tools and expertise necessary to create visibility for both the company and myself with journalists around the world. They knew I was representing Cognite and can count on me when I reached out to them.

Kunal Mehta: Awesome. Hey, maybe you can just share, what is Cognite Radio? What was the idea behind it?

Michelle Holford: When we all went to a global pandemic, we’re built on keeping asset intensive companies connected through data. If we can’t do that ourselves, there’s a problem. We have some brilliant people on our team that excel in hosting and communications.

We decided that if we couldn’t fly to the U.S. or Japan or Singapore, we were going to create a way that all of our data wasn’t in silos. We created Cognite Radio, which was a daily program to make sure that people didn’t feel isolated working from home during COVID and that they knew what was happening at Cognite, what was happening with our clients. And we shared the love worldwide. We even had a Cognite After Dark where we played music, but it was a way to connect everybody. And we had speakers come and join us and tell great stories. It was a way to make sure that we were all connected and not working in silos so that we could innovate in the best way possible outside of our regular meetings, which we were having, but to really create some culture and excitement around what was going to happen next.

Katja Gagen: That’s awesome. And Michelle, in that vein, it looks like you have a really deep bench of speakers. And I know in some of our portfolio companies, finding someone who can speak with the media is not an easy task. How did you get people engaged, and how do you get people to want to work with you and want to get in front of the media?

Michelle Holford: I know it’s really common to just have your CEO or your executive management team kind of be trotted out into the media, and that’s fabulous. You know, Markus Lervik, our CEO is wonderful. So is Francois in the United States. But we needed to have different perspectives to tell the story of Cognite.

How we cultivated interest is that we started hosting kitchen talks and story mining sessions throughout the company. Some of them would be after hours, and sometimes it would be during the day, but we could invite all of our stakeholders and say, come learn what PR is about. Come learn what brand is about. Come learn what social media is about and what we do in events.

We would talk through what we do and how it might help them in their own position, whether it’s sales, whether it’s customer success. They could understand what was being said about Cognite in the media, or how to post on LinkedIn.

For me, PR is all about relationships. I like to show up where people are and go to the robotics meetings and go to the engineering meetings and the product marketing meetings and say, I’m here to be your resource. Through those relationships and them learning more, people start to raise their hand and say, I think I might have something to offer.

We asked for volunteers, but we also target folks that we think have something to say. So we have Carolina Torres who used to work for BP for 30 years, now wanted to move her expertise from one of our customers to worldwide. Her history with BP and a woman in oil and gas, she is a great candidate and so relatable and wonderful. But so are our younger individuals that are just starting, that are concerned about the energy transition and want to talk about sustainability. We try and find those who have the most interesting perspectives So we’re always looking for opportunities to connect Cogniters to best tell the Cognite story.

Kunal Mehta: That is golden. I’m just curious, what do you mean by story mining?

Michelle Holford: Story mining means going to meet people where they are in their expertise and really asking them what problems they’re solving. When you’re in robotics or you’re in engineering or you’re in your lane in manufacturing, you can be so focused on problems you’re solving that you’re not gonna think to call the PR team.

It’s incumbent on PR professionals to go where those meetings are already happening. They’re probably having weekly meetings to touch base with their team. Sit in on those meetings, invite yourself to different opportunities or off-sites they’re having and ask questions.

What do you mean by that? You’re solving this problem for Statnett, the national grid of Norway? What does that look like? How much money did you save? Ask them questions, almost like you’re the reporter asking, tell me more. What does this look like? What’s the impact? Do we have images? Do we have B roll? You have this bank of information that you can think about creatively, how to weave together to tell stories year round.

Kunal Mehta: That it’s such a great growth hack. I think when Katja and I look at public relations, one of the bleeding arteries we see is that PR is often cast to an agency and that doesn’t yield the anticipated result. Maybe you can walk us through the must-haves for a healthy PR function.

Michelle Holford: I think it starts with credibility of public relations. PR is what other people say about you when you’re not in the room. And there’s a lot of tools in our toolbox, right? It includes the agency, and I have been on the agency side. And now that I’m in-house, I value that piece of the puzzle. But it really is one piece. It’s one tool in telling the best story for your organization. You want to stand shoulder to shoulder with them and make sure they’re equipped and greened and can represent you at all times.

You’re going to need to make sure that you are all aligned. This includes your MarComms team and your public relations team. You want to be aligned on visibility and the goals of the executive management team. This includes earned media, shared media, which is connecting with our partner team, owned media, like Ignite News, and paid media, our digital campaigns or advertising.

A healthy public relations function means everybody is working in sync in an integrated way and connecting with go-to-market plans with the different verticals to make sure you understand what their goals are. We’re setting the strategy, but we’re making sure we’re connected to the company goals, sales goals, marketing goals, and at the same time, trying to be as creative as possible with our storytelling.

Kunal Mehta: Michelle, one of the strategic uses of PR that Cognite uses is media tours. And you guys even fly in media to your events, which is amazing. For companies that don’t routinely conduct these media tours, maybe you can just walk us through your playbook.

Michelle Holford: Media tours are a very important way to connect with journalists around the world to increase visibility. The story is really in the strategy. What are you trying to say during a media tour? It involves three steps for us at Cognite. It’s the prep, it’s the pitching, and it’s the resource. And let me talk through what that means.

We’re creating a story in a box before you even conduct a media tour. What are you trying to say? What is the news? What’s the creative angle? And that story in a box, the prep part needs to have impact. What are you communicating and what impact does it have on the industry? Who is going to help tell you that story?

Is it a client? Is it a partner? Is it an influencer? Do you have stats to support it? What kind of dollars or hours are being saved by using the solution you’re talking about? What does that look like? Are there images, is there B roll? Prepare for a media tour by making sure you have your story in a box already buttoned up. That’s how you prepare.

Second, which is kind of the end part of the prep is, you should not be reaching out to journalists, that should not be at the first time they’re hearing from you. Do your homework ahead of time and create relationships with journalists locally and internationally, by connecting with them online, on calls, to make sure that they know who your company is and what you’re about, so that when they get an invitation to a media tour, it’s not cold.

Then you’re pitching them. Then it’s time for them to actually learn that you’re going to do a media tour, and what you are selling should be specific. You are going to have this amount of time with these executives. You’re going to meet with them and they’re going to talk about how Norway is the new Silicon Valley, specifically Oslo, and what that looks like for investing in Europe. Or why people are putting their money on Europe, as far as industrial digitalization and moving the needle.

Think about specifically what that pitch is, who is going to be there, and what it’s going to do for that reporter. Is it included in their beat? What’s it going to do for the audience? And then just know that once you complete these tours, that it may not result in media coverage. You will be used more often than not as a resource for the next time they’re talking about something related to that issue.

Katja Gagen: Wonderful. We’re gonna give you a few rapid fire questions. Michelle, tell us what book are you reading right now?

Michelle Holford: I’m obsessed with Katie Couric’s new book Going There. Just a connection with journalism and a woman in the business. I’m just starting.

Katja Gagen: And what’s your go-to book that changed your life and that you go back to a lot.

Michelle Holford: Wow. I like The Road Less Travelled. Like I’m one of those people, let’s not do it the normal way. Let’s think outside the box. And I think about that book a lot. I read it in college and I think about it a lot.

Katja Gagen: I also know that Cognite just published one. What’s that all about?

Michelle Holford: Industrial data ops is going to be the way of the future, how data is connected in business worldwide, especially in asset intensive industries. We wanted to create a really easy user guide manual for companies to kind of do a wellness check on their digital maturity and how connected their data is.

There’s an easy to read guide that walks you through what industrial data ops is and how you can use it to get business value from your data. It’s really a guide for industry. It’s downloadable and it’s free at our website,

Kunal Mehta: Awesome. What skill are you trying to develop right now?

Michelle Holford: I’m trying to learn Norwegian since I live in Norway now. That’s a brief answer. Otherwise, I’m trying to really sharpen my skills on how to help launch this platform from a creative content view from our side, from Cognite.

Katja Gagen: I would like to know what’s your favorite metric when it comes to communications and PR.

Michelle Holford: Selfishly, I think some people think it’s outdated, but I like AVE. I like the Add Value Equivalency. I like to put a number in front of folks to say, if you would have bought these column inches or this white space or this airtime, this is what earned media brings. I like to bring value to what the industry does.

I also like to see what the competitors are doing and if we’re beating them in share of voice in the news that month or also followers, like that’s also intriguing too.

Katja Gagen: That’s awesome. And Michelle, you’ve lived both in the U.S. and of course now in Europe, what do you like about both and how do you adjust your PR programs to suit both markets?

Michelle Holford: I appreciate that question. I moved to Norway a year and a half ago. And what I appreciate about Europe is how technologically advanced it is. In Norway, I haven’t touched cash, dollars or coins, in a year and a half until I got here. It’s so easy to use your phone for everything you do in Norway, whether it’s your taxes, which is a one-step shop, whether it’s public transportation, they’re constantly innovating. And because there’s so many countries that are connected, they’re sharing information.

What I appreciate about the U.S. It’s probably the options. I have a suitcase ready to be filled with things they don’t sell in Norway that are my favorite brands or things that I miss from Norway, but obviously I miss my friends and family. There are advantages of both, and I love being able to live in both countries.

In the U.S. we’re much more comfortable saying, we are amazing! This is what we do! And this is why you should know about us! And in Norway, it’s a very modest, humble country. It’s very flat structured. As an American, I’m constantly pushing, saying, we’re the first unicorn in Norway! We have to tell that news! And you have folks saying, oh, that would be bragging. We’re not sure we want to talk about that. Can we talk about it in a different way? I have to think through what is going to resonate and what is going to land with journalists in a way that isn’t so boastful, but also push our teams in Norway to tell our good news and to tell our story.

It definitely modifies how our PR team operates in each country, by who the audience is and what’s appropriate.

Katja Gagen: Awesome. Well, thank you so much, Michelle. We covered a lot today, as we promised earlier, thanks for being on the show today, Michelle.

Michelle Holford: Well, as they would say in Norway, tusen takk, which means thank you. Thank you for having me.


The views and opinions expressed are those of the speakers and do not necessarily reflect those of TCMI, Inc. or its affiliates (“TCV”). TCV has not verified the accuracy of any statements by the speakers and disclaims any responsibility therefor. This interview and blog post are not an offer to sell or the solicitation of an offer to purchase an interest in any private fund managed or sponsored by TCV or any of the securities of any company discussed. The TCV portfolio companies identified, if any, are not necessarily representative of all TCV investments, and no assumption should be made that the investments identified were or will be profitable. For a complete list of TCV investments, please visit For additional important disclaimers regarding this interview and blog post, please see “Informational Purposes Only” in the Terms of Use for TCV’s website, available at

From Siloed to Contextualized Operational Data – How Cognite is Driving the Digital Transformation of the World’s Largest and Most Vital Industries

Everyone talks about the transformative power of big data, often in relation to consumer insights. Yet there is a river of information flowing just as powerfully out of industrial facilities around the world – information that could be harnessed to make our planet more sustainable, industries more efficient, and jobs safer.

Industrial companies are waking up to the power of that information, and today we’re excited to announce an investment in Cognite, a global industrial Software-as-a-Service (SaaS) leader, whose mission is to digitalize heavy-asset industries and unlock the power of their operational data.

The Industrial Leaders’ Choice

Founded in Norway in 2017 by Dr. John Markus Lervik, Geir Engdahl, and Stein Danielsen, Cognite has made huge headway in transforming the use of data across oil and gas, power and utilities, renewable energy and manufacturing, using its cloud-based Cognite Data Fusion (CDF) platform. Companies like bp, Saudi Aramco, Alfa Laval, Statnett, and Mitsubishi are already optimizing the way they operate using Cognite’s platform.

In Good Company

Cognite is an exciting addition to TCV’s portfolio and fits squarely with our thesis on the next-gen industrial software space. This dates back to our support for Seismic-Micro Technology (SMT) from 2007, which gave us early insight into how oil and gas companies value operational intelligence – and its importance from a regulatory and operational efficiency perspective.

This investment led to us finding and backing OSIsoft in 2011, which has since become a standard in the Industrial Internet of Things (IIoT) market due to its ability to pull data from sensors and industrial equipment at scale for the world’s largest industrial companies.

Another investment is IQMS, one of the first manufacturing software vendors to natively connect manufacturing execution systems to the ERP software of their suppliers/smaller manufacturers, so they could harness the power of the factory data to hone business decisions.

Across these investments we have seen big data and data-driven decision-making soar and drive a huge opportunity for innovation and investment.

Bridging the Gap Between Business and Operational Data Insights

Digital-first companies inherently operate in a data driven way. They produce a sea of business performance data via their IT systems and are able to collect, analyze and manage that data to plan more strategically and run more efficiently. The opportunity in the industrial space is to extend these benefits, harnessing the oceans of operational technology (OT) data generated by every asset and piece of equipment making up factories, processing plants, or broader industrial estates. To date, turning this data into business value has proved a challenge – not least because OT covers a diverse range of data sources and formats.

The sensors on a single piece of equipment may hold the key to insights about production quantities, efficiency data, motor speeds and heat readings. The challenge is how to combine all those different data points into the right context to assess and improve equipment performance. This is a problem that, until recently, no one had solved – and, frankly, few companies even understood.

A Meeting of Minds and the Missing Contextualization Layer

In 2018, not long after Cognite’s founding, Øyvind Eriksen, President & CEO of Aker, and Kjell Inge Røkke, the majority owner of Aker, came to visit our California offices along with Cognite’s CEO, John Markus – to discuss what they were building at Cognite.

It was clear to us from that first meeting that Aker’s support and industrial expertise, combined with John Markus’ product brilliance, addressed the need for this missing contextualization layer – and that Cognite’s product strategy would be aimed at solving this critical issue. That initial meeting led to a relationship which has culminated in TCV’s investment today.

Cognite uses the latest technology – in particular machine learning – to enable large amounts of information to be ingested in real time and, crucially, contextualized so it can be leveraged for a wide range of use cases. This approach, which improves data’s accessibility and governance across an entire organization, significantly shortens the time to value and scalability of high-ROI applications including predictive maintenance, production optimization, and remote work.   

Fueling Cognite’s Next Growth Chapter

Cognite is the perfect fit for TCV’s strategy of investing early in potential franchise companies of the future. We are thrilled to be part of their next growth chapter and help them scale and catalyze the full-scale digital transformation of heavy-asset industries.

The company joins Brex, Redis Labs, Revolut, Relex, Klarna, Mambu, Mollie and recent investments in Europe and around the world. Like OSIsoft, IQMS, Genesys, Netflix, Spotify and many other global leaders in our portfolio that were once young growth-stage companies, Cognite is forging ahead in a fragmented field to become the category leader.


The views and opinions expressed are those of the author and do not necessarily reflect those of TCMI, Inc. or its affiliates (“TCV”). TCV has not verified the accuracy of any statements by the author and disclaims any responsibility therefor. This blog post is not an offer to sell or the solicitation of an offer to purchase an interest in any private fund managed or sponsored by TCV or any of the securities of any company discussed. The TCV portfolio companies identified above are not necessarily representative of all TCV investments, and no assumption should be made that the investments identified were or will be profitable. For a complete list of TCV investments, please visit For additional important disclaimers regarding this interview and blog post, please see “Informational Purposes Only” in the Terms of Use for TCV’s website, available at

Redis Labs Raises $100 Million from Bain Capital Ventures and TCV to Help Companies Win in the Data-Driven Economy

Mountain View, August 25, 2020—Redis Labs, the company behind Redis, the most popular open source database and the provider of Redis Enterprise, today announced it has closed $100 million in Series F financing at a company valuation of more than $1 billion. This investment was co-led by Bain Capital Ventures and TCV, with participation by the company’s existing investors Francisco PartnersGoldman Sachs GrowthViola Ventures, and Dell Technologies Capital. With this funding, Redis Labs has now raised over $246 million to-date. 

More than ever, enterprise data is distributed, siloed, and increasing in volume. In order for companies of every industry to maximize and leverage the power of this data, Redis Labs is delivering a real-time data platform that allows them to manage, process, analyze, and make predictions, that will improve their customer experiences and drive their business forward.

“This investment will enable us to meet the surge in demand from companies representing every market and geography, to scale their Redis deployments and to help them win in the data-driven economy,” said Ofer Bengal, Co-Founder and CEO at Redis Labs. “The unprecedented conditions brought on by COVID-19 have accelerated business investments in building applications that require real-time, intelligent data processing in the cloud. During this time, Redis has become even more critical to our customers, partners, and community. We will continue to invest in strengthening our community footprint, advancing the Redis technology, and helping our users to do more with Redis.”

“Redis has become the ideal database for companies to operate intelligently and win in the current economy,” said Enrique Salem, Partner at Bain Capital Ventures. “We’ve long believed in the market opportunity for a high-performance database in the cloud-era and Redis’ potential to lead this category. Since our initial Series A investment, the Redis team has done a remarkable job making Redis an essential tool for developers and being a trusted partner for global enterprises operating at scale. We’re thrilled to continue partnering to build a multi-billion dollar database company.”

“We, at TCV, are delighted to partner with Ofer, Yiftach, and the team at Redis Labs in their effort to revolutionize the high-performance database industry,” said Gopi Vaddi, General Partner at TCV. “The product leadership demonstrated by Redis Enterprise in low latency, distributed, and high availability use cases is particularly remarkable. We believe that applications demanding Redis Enterprise’s market-leading capabilities will continue to multiply in an increasingly real-time world.”

Redis Labs currently has more than 7,500 customers, including MasterCard, Dell, Fiserv, Home Depot, Microsoft, Costco, Gap, and Groupon. With this funding, Redis Labs will continue to grow the global Redis community, expand its go-to-market team and programs, and invest in the product and support services to deliver even more value for customers. In calendar 2020 Redis Labs has seen tremendous momentum to-date, including:

  • Signed a strategic alliance agreement with Microsoft Azure for making Redis Enterprise the top tier of Azure Cache for Redis, and launched it in Private Preview. Public Preview is expected in early fall.
  • Following the availability of Redis Enterprise Cloud as a native service on Google Cloud in October 2019, the service has experienced over 300% growth in just two quarters.
  • Achieved Advanced Technology Partner status with Amazon Web Services Partner Network.
  • Launched RedisAI, for inferencing artificial intelligence requests at the speed of Redis, and RedisGears, a programmable engine enabling data-processing options at milliseconds speed across any distributed Redis deployment.
  • Announced RedisRaft, which brings strong consistency to Redis, making it suitable to serve the most critical business applications on earth.  
  • Named “Most Loved Database” for a fourth consecutive year in Stack Overflow’s annual global developer survey.

About Redis Labs

Data is the lifeline of every business, and Redis Labs helps organizations reimagine how quickly they can process, analyze, make predictions with, and take action on the data they generate. As the home of Redis, the most popular open source database, we provide a competitive edge to global businesses with Redis Enterprise, which delivers superior performance, unmatched reliability, and the best total cost of ownership. Redis Enterprise allows teams to build performance, scalability, security, and growth into their applications. Designed for the cloud-native world, Redis Enterprise uniquely unifies data across hybrid, multi-cloud, and global applications, to maximize your business potential.

Learn how Redis Labs can give you this edge at

Media Contact
Steve Naventi
Redis Labs

Katja Gagen

At the Cutting Edge of the Governance Risk and Compliance (GRC) Sector – Leveraging Compliance Data to Drive Business Value

By Nari Ansari and Gal Peleg

Compliance seems to divide enterprises into three categories: those that primarily publicize it as proof of “good governance,” those that actually push the boundaries far enough to bring consequences, and everyone else with their heads down, trying to address whatever regulatory standards govern their industry and the seemingly ever-changing nature of those standards.

Now a fourth group is emerging, charting their own course. These enterprises are turning compliance to their advantage by mining compliance data for digital gold: insights that increase efficiency and competitive advantage. Like the governance crowd, they have automated many compliance functions with emerging software solutions. They are looking at the resulting data with fresh eyes and using it to improve their businesses.

More Regulation…

Most people think of compliance in terms of rules and regulations imposed by lawmakers and other governing bodies, for good reason: there is a proliferation not just of new regulations but of whole new regulatory frameworks such as Dodd-Frank and GDPR. Even long-time frameworks such as SOX, HIPAA, and FCPA continue to evolve. Yet at the same time, many enterprises are setting rules of their own to address an increasingly complex environment that includes global supply chains, cybercrime, trade wars, Brexit, and other evolving risks.

In the end, it doesn’t matter where the rules come from: compliance, and the documentation that comes along with it, is essential for managing risks and maintaining brand reputation. The roster of damaged brands from just the past few years illustrates what can happen when risk and compliance management break down.

Until recently, enterprises managed compliance risks with home-grown, often siloed and disparate initiatives that focused on people and processes. The components included manual record-keeping, time-consuming audits, constant training, ever-lengthier supplier questionnaires, C-level compliance positions, and board-level reporting. The reams of information gathered and presented were considered useful mainly for answering a simple question: Are we compliant or not?

Then a new question arose: Can we at least automate and digitize risk and compliance data, like we have done with so many other processes? The answer to that question is clear: We can, thanks to a growing community of companies providing governance, risk, and compliance (GRC) technology solutions that automate the process of collecting, aggregating, analyzing, and presenting relevant data while reducing their costs to the organization.

…Meets Smarter Compliance

We believe that just as homegrown compliance structures created the opportunity for digitization, a critical mass of companies are now positioned for a new opportunity that may eclipse the earlier one. Data that was once viewed merely as fuel for the compliance machine can now be considered a strategic output in its own right, with value to the business beyond compliance.

Whether it’s a bank mining Know Your Customer data to pitch targeted travel insurance to its customers or a CPG manufacturer analyzing complaint data from the Consumer Financial Protection Bureau to improve its manufacturing methods, we see an opportunity for companies to extract incremental, “offensive” business insight from large risk, compliance, and regulatory data sets.

Why Now?

This opportunity represents a convergence of what may seem unrelated factors. But let’s remember that in a globalized, highly competitive economy there are few trends that arise in isolation.

The first trend we note is a dramatic change in the people sitting in the chief compliance officer (CCO) chair. Russell Reynolds Associates analyzed the career backgrounds of 72 CCOs in banking, insurance and asset management and reported that “gone are the days of principally legal and compliance executives nabbing the top job in the compliance function.” So who’s getting the job instead? According to the report, it’s “broader-focused appointees from consulting, risk and audit. This new breed of appointees would be well-positioned to contextualize compliance (and the associated cultural change) in the wider picture of the organization.” In other words, compliance executive leadership is not just for lawyers and specialists – it’s for multidisciplinary executives who are as fluent with brand value and enterprise risk as they are with the P&L and operations.

The second trend we note is increased use of AI/ML. The transportation sector is a leading example, in part because it is heavily regulated. Shipping companies, notably UPS, now place dozens of monitors on their vehicles for compliance with internal and regulatory rules – and then apply AI to the monitor data to optimize delivery routes and driver behaviors in ways that squeeze out fuel costs and improve customer satisfaction. Fleet operators are further served by solutions from the likes of Keep Truckin, Samsara, and Geotab, which help improve driver safety and increase the precision of preventive maintenance.

The third trend is the evolving consumer privacy landscape. Ironically, more robust data protection and security regulations such as GDPR can actually serve to enhance business value by increasing the trust between companies and their customers. In its January 2018 report, “How GDPR is an Opportunity to Create Business Value”, Gartner notes that “handled effectively, there is great potential to obtain consent to increase data access, use, and sharing rights — aligned with goals of a wider organizational data and analytics strategy. This can help drive competitive advantage, while also helping to achieve compliance in other countries and regions.”

Examples of Leveraging Risk & Compliance Data to Drive Business Value

These are examples of companies that are helping advance the use of risk and compliance data for improving everything from customer experiences to supply chain performance to more effective emergency response:

  • Avetta’s customers use Avetta to certify compliance quality of its suppliers (green flag, yellow flag, red flag) and then mine the data to identify which suppliers are best trained and best equipped for certain on-site jobs.
  • Higher education institutions have long collected data to achieve and maintain external accreditation. Watermark Insights helps universities and colleges not only collect, digitize, and report on that data to demonstrate effectiveness, but also to use it to inform curricular changes and improve student outcomes. 
  • AxiomSL’s financial services clients utilize its data integrity and control platform and its risk calculation and reporting solutions to satisfy regulatory requirements across the globe systematically.  With trusted data, banks are now also able to identify opportunities to fine-tune capital/credit risk and deliver compelling business insights across the enterprise.
  • Global Trade Management solutions from the likes of Descartes and Amber Road (now a part of E2OPEN) have long been used to satisfy mandatory export compliance obligations (e.g. restricted party screenings) and to remain abreast of regional duty programs and tariffs. But by marrying these regulatory datasets with companies’ more “traditional” supply chain data (such as bill of materials and transportation fees), clients are now able to more accurately forecast true landed costs (the total price of the shipment including customs, duties, taxes, tariffs, etc.), all the while minimizing risks and delays.
  • Rave Mobile Safety enables schools to automate collection of and access to critical facility information (e.g., floor plans, alarm information), which they need to remain compliant with fire department ordinances – and it also provide 911 dispatchers and first responders better real-time capabilities when emergencies arise.
  • Information governance and eDiscovery vendor Nuix is well known for its deep technical capabilities in high speed processing and analytics around vast data sets, typically in the context of litigation and investigations.  But enterprise clients are also able to leverage the platform to create “data lakes”, making data more accessible for re-use in future investigations, litigations and data management programs, helping reduce costs.
  • Biopharma companies rely on software from ETQ for much more than compliance with FDA requirements; they also leverage the data to mitigate and prevent high-risk events, scale operations more effectively, and streamline their go-to-market activities.

There are many other examples of organizations across industries utilizing technology from GRC vendors to not only achieve their risk and compliance objectives, but also advance their strategic objectives.  The trend is still very much in its early days, but it provides an exciting avenue for continued growth in the sector.  As an experienced technology focused growth equity firm, TCV is committed to investing in the category innovators in the GRC space and has invested in such companies as Avalara, AxiomSL, Avetta, LegalZoom, Rave Mobile Safety, RiskMetrics Group, and Watermark Insights. 


The statements, views, and opinions expressed are those of the speakers and do not necessarily reflect those of TCMI, Inc. or its affiliates (“TCV”). TCV has not verified the accuracy of any statements by the speakers and disclaims any responsibility therefor. This interview is not an offer to sell or the solicitation of an offer to purchase an interest in any private fund managed or sponsored by TCV or any of the securities of any company discussed. The TCV portfolio companies identified, if any, are not necessarily representative of all TCV investments and no assumption should be made that the investments identified were or will be profitable. For a complete list of TCV investments, please visit For additional important disclaimers, please see “Informational Purposes Only” in the Terms of Use for TCV’s website, available at