Ardoq

About Ardoq

Founded in 2013 by Magnulf Pilskog and Erik Bakstad and headquartered in Oslo, Norway, Ardoq has grown to a team of over 230 professionals with further offices in Copenhagen, London and New York. Driven by this passionate and market-leading team, Ardoq is one of the world’s leading vendors of cloud-native Enterprise Architecture software, with a truly global customer base and top tier clients such as Carlsberg, Condé Nast, ExxonMobil, Vestas and the United States’ Federal Communications Commission.

Market trends and drivers

Every business today is undergoing digital transformation in some shape or form. The world is experiencing increasing IT complexity, cloud migration, and the proliferation of applications – for example, in 2021 companies saw a 40% increase in the average number of apps per employee, compared to a historical growth trajectory of just 20%. As a result, the demand and market for EA platforms like Ardoq is vast and accelerating at pace. Ardoq’s already sizable addressable market is set to grow 10 - 12% per annum, up from $3.4 billion today (March 2022).

Investment potential

As Ardoq invests in its global expansion – focusing on its commercial platform, product offering, and growing the team – EQT Growth will actively partner with Ardoq as its first international investor. It will support the Company through its proprietary software sector value-creation playbook, global network of more than 600 industry advisors, and in-house teams of digitization and sustainability experts.

Find out more about the investment on EQT Growth’s Medium.