How many total SaaS companies are there in Norway?

As of January 2026, Norway has 925 active SaaS companies.

How many SaaS companies in Norway are funded?

As of January 2026, 312 companies have received funding in this sector.

What is the total funding raised by SaaS companies in Norway?

SaaS companies in Norway have collectively raised $2.28B in funding till date.

Who are the top investors in SaaS companies in Norway?

The top investors in SaaS companies in Norway by number of investments are EQT and Northzone.

Which is the highest funded SaaS company in Norway?

As of January 2026, Gelato has raised $269M in funding, highest among the funded SaaS companies in Norway.

How many SaaS unicorns are there in Norway?

Norway has produced 2 unicorns in the SaaS sector till date.

SaaS in Norway - 2026 Market & Investments Trends

The SaaS sector in Norway comprises 1.05K companies, including 312 funded companies having collectively raised $2.28B in venture capital money and private equity. Out of these, 166 are Series A+ funded, and 2 have achieved unicorn status.

SaaS sector in Norway has seen 106 acquisitions and 15 IPOs. This represents almost 11.5% of all such companies - which is higher than the 5.0% exit rate of tech companies in general.

This sector includes companies providing cloud-based, multi-tenant and subscription or on-demand B2B software applications.

Companies included in SaaS

All B2B software that offers cloud-based, multi-tenant solutions for business functions like Marketing, HR, Sales, Business Intelligence, etc.

Companies excluded in SaaS

1. All On-premise B2B software are excluded. 2. All companies that do not offer their own proprietary software are excluded. 3. Services and Consulting firms are also excluded. 4. Resellers are also excluded.

Key Metrics

Total Companies

1.05K

Top Companies

Visma, Kahoot & more

Total Funding

Funded Companies

Series A+ Companies

Series C+ Companies

Unicorns Created

IPOs

Acquisitions

106

View complete details of this sector

There are more than 1.05K companies in SaaS in Norway. Visma is the top SaaS company in Norway, ranked using Tracxn Score (what's this?).

Here are 5 of the top SaaS companies in Norway:

Company	Description	Location	Founded	Current Stage	Private Funding Raised
Visma	Cloud based enterprise resource planning software	Oslo (Norway)	1996	Acquired	$198M
Kahoot	Cloud-based gamified content management platform for schools and organizations	Oslo (Norway)	2012	Acquired	$52.3M
Attensi	Provider of gamified simulation training for corporates	Oslo (Norway)	2012	Series B	$32.3M
Gelato	Provider of SaaS-based solutions for dropshipping customized products	Oslo (Norway)	2007	Series D	$269M
Cognite	Provider of AI-based production data analysis software	Lysaker (Norway)	2016	Acquired	$225M

Get a longer list of companies

Companies founded year-on-year in the SaaS sector in Norway

89 SaaS startups in Norway were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.

Total Number of Companies

Year	No. of companies
2026	-
2025	12
2024	19
2023	37
2022	39
2021	72
2020	89
2019	74
2018	68
2017	78

Stage-wise distribution of SaaS sector companies in Norway

Out of the total 1,053 SaaS companies in Norway, 312 have secured funding. Among them, 166 have reached Series A or higher, and 135 to Series B or beyond.

Founded - 1,053

Funded - 312

Series A+ - 166

Series B+ - 135

Series C+ - 129

Company Stage	No. of companies
Founded	1,053
Funded	312
Series A+	166
Series B+	135
Series C+	129

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Total funding year-on-year in the SaaS sector in Norway

The SaaS sector in Norway saw a total funding of more than $1.98B in the last 10 years. The most amount of funding was in 2021 at more than $563M.

Total Funding

Year	Total Funding
2025	$135M
2024	$102M
2023	$130M
2022	$271M
2021	$563M
2020	$550M
2019	$59.9M
2018	$85.3M
2017	$33.1M

Recent Funding Rounds in SaaS in Norway

In the year 2025, till December 2025, SaaS companies in Norway have raised $108M in equity funding across 19 rounds. In the same period last year (i.e. till December 2024), SaaS companies in Norway had raised $102M across 9 rounds. So, 2025 has seen a 6.52% rise in funding in SaaS companies in Norway as compared to 2024.

Here are some recent, important funding rounds in SaaS companies in Norway:

Company	Round Raised	Amount Raised	Funding Date	Investors
Tive	Series C	3031	Dec 18, 2025	-
WindSim	Seed	5056	Dec 16, 2025	Geodata
Spoor	Series A	4592	Dec 11, 2025	SET Ventures and 4 more
SportAI	Series A	2225	Nov 25, 2025	Altitude Capital and 4 more
Databutton	Series A	7497	Oct 23, 2025	Northzone and 5 more

See a more detailed list of funding rounds

EQT is the top investor in SaaS companies in Norway based on number of companies invested.

Here are some top investors in SaaS companies in Norway:

Investor	Location	Top Portfolio Companies
EQT	Stockholm (Sweden)	Ardoq, Vev and Kitemaker
Northzone	London (United Kingdom)	Kahoot, Tana, Spacemaker and Databutton
Everywhere	New York City (United States)	Tana
Verdane	Oslo (Norway)	Verified, M_SOLUTION, Gintel and Papirfly
Alliance Venture	Oslo (Norway)	Confirmit, Enode, Shoreline and Unleash

See a more detailed list of investors

In the year 2025, till December 2025, 17 acquisitions happened in SaaS sector in Norway. Last year, in 2024, a total of 8 acquisitions happened in SaaS sector in Norway.

Here are some recent, important acquisitions in SaaS sector in Norway:

Company	Acquisition Type	Acquisition Date	Acquirers
Junglemap	Business Acquisition	Dec 10, 2025	MetaCompliance
SHAREcat	Business Acquisition	Aug 15, 2025	Star
BioPlan	Business Acquisition	Aug 12, 2025	Optoscale
Xait	Business Acquisition	Jul 21, 2025	Main Capital Partners
Dataloy Systems	Business Acquisition	Jul 09, 2025	SEDNA

See a more detailed list of acquisitions

Acquisition trends in SaaS sector in Norway

Here are the acquisition trends in SaaS sector in Norway:

Total Number of Acquisitions

Year	No. of companies
2026	-
2025	17
2024	8
2023	9
2022	12
2021	7
2020	16
2019	11
2018	2
2017	8

In the year 2021, till June 2021, 2 IPOs happened in SaaS sector in Norway.

Here are some recent, important IPOs in SaaS sector in Norway:

Company	IPO Date	Exchange Symbol
Smartcraft	Jun 24, 2021	Frankfurt Stock Exchange (FRA)
Volue	May 07, 2021	Frankfurt Stock Exchange (FRA)
Kahoot	Jun 02, 2020	OTC Markets (OTCMKTS)
Pexip	May 22, 2020	Frankfurt Stock Exchange (FRA)
24SevenOffice	Aug 01, 2005	Frankfurt Stock Exchange (FRA)

See a more detailed list of IPOs

Companies founded by alumni from top colleges in the SaaS in Norway

Most number of SaaS startups in Norway have been founded by alumni from Imperial College London, Massachusetts Institute of Technology and Aalto University.

College	No. of companies
Imperial College London	4
Massachusetts Institute of Technology	3
Aalto University	2
London School of Economics and Political Science	2
Stanford University	2
University College London	2
University of Bristol	2
University of California (Berkeley)	2
Bayes Business School	1
Carnegie Mellon University	1

Total funding in SaaS companies founded by alumni from top colleges in Norway

In the last 10 years, Aalto University graduates' SaaS companies in Norway have raised the most funding among top colleges. Bayes Business School alumni are second.

College	Total Funding
Aalto University	$24.2M
Bayes Business School	$4M
Carnegie Mellon University	-
Duke University	-
Imperial College London	-
London School of Economics and Political Science	-
Massachusetts Institute of Technology	-
Stanford University	-
University College London	-
University of Bristol	-