When was itm8 founded?

itm8 was founded in 2018 and raised its 1st funding round within a year of its incorporation.

Where is itm8 located?

itm8 is headquartered in Herning, Denmark.

Which legal entities is itm8 associated with?

itm8 is associated with IT RELATION A/S and 5 others.

How many employees does itm8 have?

As of Jun 30, 2026, the latest employee count at itm8 is 1562.

Is itm8 a funded company?

itm8 is a funded company, having raised a total of $34.4M across 3 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Aug 31, 2018.

How much is itm8 worth?

The last known valuation of itm8 was $***** as of Dec 17, 2020.

When was the latest funding round of itm8?

itm8's latest funding was a $***** Series C round on Dec 17, 2020, with participation from 0 investor.

Where does itm8 rank among its competitors?

itm8 ranks 1456th amongst 138402 active competitors, of which 983 are funded. It stands 5th in terms of total funding among its competitors. The most recent competitor to raise funding was Accenture, which secured an undisclosed amount in Mar, 2024.

Who are the top competitors of itm8?

itm8's top competitors include IBM, UST and Infosys. Among them, Accenture secured the most recent funding round in March, 2024.

itm8 - 2026 Company Profile, Funding, Competitors & Financials

itm8 is an acquired company based in Herning (Denmark), founded in 2018. It operates as a Provider of app development, cloud, security, and IT operation services. itm8 has raised $34.4M in funding, with last known valuation of $*****. The company has 138402 active competitors, including 983 funded and 7724 that have exited. Its top competitors include companies like IBM, UST and Infosys.

Company Details

Website: itm8.com
Social

Key Metrics

Founded Year

2018

Location

Herning, Denmark

Stage

Acquired

Total Funding

$34.4M in 3 rounds

Latest Funding Round

Series C, Dec 17, 2020, $*****

Last Known Valuation

$***** as on Dec 17, 2020

Investors

HgCapital Trust & 3 more

Ranked

1456^th among 138402 active competitors

Employee Count

1,562 as on Jun 30, 2026

Investment & Acquisitions

CBC

Similar Companies

IBM & 162086 more

Exit Details

Acquired by Axcel (May 18, 2022)

View itm8's full profile

itm8 is associated with 6 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count
ITM8 s.r.o. CIN: 07628919 , Czech Republic, Active	Nov 09, 2018	-	-
itm8 \| Sotea A/S CIN: 10085225 , Denmark, Deadpooled	Dec 31, 2001	-	-
ITM8 BidCo ApS CIN: 39633221 , Denmark, Active	Jun 10, 2018	-	2 (As on Mar 31, 2023)
ITM8 HOLDING A/S CIN: 37621285 , Denmark, Active		-	2 (As on Dec 31, 2020)
ITM8 TopCo ApS CIN: 39638541 , Denmark, Active	Jun 12, 2018	-	967 (As on Dec 31, 2021)
IT RELATION A/S CIN: 27001092 , Denmark, Active	Jan 29, 2003	-	479 (As on Mar 31, 2024)

itm8 got acquired by Axcel on May 18, 2022.

Click here to take a look at itm8's acquisition in detail

itm8 has raised a total funding of $34.4M over 3 rounds. Its first funding round was on Aug 31, 2018. itm8 has 3 institutional investors and 1 angel investor.

Here is the list of recent funding rounds of itm8:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Dec 17, 2020	6929324	Series C	8782862	5264414	7282094	6031282
Sep 30, 2019	2500585	Series B	5274162	3613361	4336812	8209492
Aug 31, 2018	1518709	Series A	5493767	6904460	1094192	2668762

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View details of itm8's funding rounds and investors

itm8's employee count trend

itm8 has 1,562 employees as of Jun 26. Here is itm8's employee count trend over the years:

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Top competitors of itm8 include IBM, UST and Infosys. Here is the list of Top 10 competitors of itm8, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	IBM 1911, Armonk (United States), Public	Provider of hybrid cloud, artificial intelligence, and IT consulting services	-	Berkshire Hathaway, Runway & 22 others	77/100
2nd	UST 1999, Aliso Viejo (United States), Late Stage	Provider of data analytics, cloud modernization, management strategy, and digital transformation services	$250M	Temasek, MFAR & 1 others	76/100
3rd	Infosys 1981, Bengaluru (India), Public	Provider of consulting, data analytics, and IT services	-	Nepean Capital, Seaside Private Capital & 1 others	75/100
4th	Happiest Minds Technologies 2011, Bengaluru (India), Public	Provider of IT suite services	$64.8M	Canaan, Trident Trust & 37 others	73/100
5th	Datamatics 1975, Mumbai (India), Public	Provider of digital technologies, business process management, analytics, and automation services	$3M	IIML	73/100
6th	Virtusa 1996, Westborough (United States), Acquired	IT services company	$45.2M	EQT, Back Bay Group & 8 others	73/100
7th	Mindtree 1999, Bengaluru (India), Acquired	Consulting and implementations company	$23.9M	Global Technology Ventures, Walden Israel ... & 9 others	73/100
8th	Sutherland 1986, Pittsford (United States), Late Stage	Provider of business process and technology management services	$60M	Affirma Capital, Oak Investment Partners & 3 others	73/100
9th	Accenture 1989, Dublin (Ireland), Public	Provider of IT consulting, technology, and outsourcing services	-	ngn-capital.com, Bondeinvest.com & 6 others	73/100
10th	Valtech 1993, Paris (France), Acquired	Provider of diversified application development, IT consulting, and digital transformation services	-	Verlinvest, AB InBev & 3 others	72/100
1456th	itm8 2018, Herning (Denmark), Acquired	Provider of app development, cloud, security, and IT operation services	$34.4M	HgCapital Trust, Hg & 2 others	39/100