Cenosco Announces Growth Investment Led by Summit Partners

THE HAGUE, Netherlands--(BUSINESS WIRE)--Cenosco B.V. (“Cenosco”), a leading provider of asset integrity management (AIM) software, today announced a growth investment led by Summit Partners, with participation from existing investor Fortino Capital. The partnership will help accelerate Cenosco’s continued product innovation, international expansion and team growth.

Cenosco offers a category-leading suite of software solutions designed to enhance safety, reliability, and operational efficiency for companies operating in asset-heavy industries. The company’s Integrity Management Suite (IMS) provides mission-critical integrity, reliability and process safety solutions to some of the world’s largest oil & gas, chemical and power companies, including Shell, Equinor and PTTGC. Today, Cenosco is used by 11,000+ professionals and deployed at more than 200+ assets across 40+ countries around the world.

“Ageing infrastructure, supply chain shocks and rising environmental regulation, present significant challenges for operators in asset-heavy industries. Having the right technology is critical,” said Rahul Kejriwal, CEO of Cenosco. “At Cenosco, we are committed to providing solutions that empower our customers to make data-driven decisions, improve asset integrity and drive efficiency. We are excited to partner with Summit, together with the ongoing support from Fortino Capital, as we continue to innovate, expand globally, and work to establish Cenosco as the industry standard for asset integrity and reliability.”

Built by engineers for engineers, Cenosco’s IMS suite is backed by 25 years of experience serving asset-heavy industries. It is grounded in risk-based inspection (RBI) methodologies and leverages real-time data and probabilistic modeling to help optimize inspection and maintenance schedules. The platform helps operators gain a holistic view of their assets and understand the most critical components of the overall system, enabling more informed decision-making and proactive maintenance strategies. Customers have reported up to a 20% reduction in inspection costs, a 15% decrease in major planned and unplanned downtime, and significant maintenance cost savings from asset failure prevention.

“With growing global demand for asset efficiency and resilience, fueled in part by new AI use cases, operators are increasingly focused on improving reliability and reducing downtime,” said Han Sikkens, a Managing Director and the Head of Europe at Summit Partners, who will join the Cenosco Board of Directors. “With a global footprint and a record of rapid, profitable growth, we believe Cenosco has built a highly differentiated platform that delivers measurable impact for industrial operators. We look forward to partnering with Rahul Kejriwal and the Cenosco team as they continue to drive innovation and work to scale the business globally.”

“Since our investment in 2020, Cenosco and its management have successfully transformed from a service-oriented business into a highly growing SaaS vendor serving a well-diversified international customer base,” said Toon Smets, Investment Director at Fortino Capital. “We believe the company is perfectly positioned to lead the digital revolution in asset integrity management and, together with Summit Partners, we are pleased to support Cenosco’s next phase of growth.”

About Cenosco

Cenosco is an asset integrity management software company with over 20 years of product leadership in asset-heavy industries. The company’s IMS Suite of solutions was designed to support users in making smart inspection and maintenance decisions to increase safety, maximize asset availability, and optimize asset management costs. IMS has been deployed in more than 200 assets, in over 40 countries. Cenosco envisions a safe, sustainable world, where asset-heavy industries can operate at their full potential, without jeopardizing the health and safety of their people and the environment.

About Summit Partners

Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please visit www.summitpartners.com or follow on LinkedIn.

About Fortino Capital

Fortino Capital is a European investment company with a focus on high-growth B2B software solutions managing two private equity funds and two venture capital funds. With offices in Belgium, the Netherlands and Germany, Fortino backs exceptional and ambitious entrepreneurs in Europe. For more information, please visit www.fortinocapital.com or follow on LinkedIn.