Battery Ventures announces sale of Physical Security Technology Company Qognify to Hexagon AB

Qognify provides enterprise video and incident management solutions to improve physical security and business operations for companies across all industries

BOSTON, December 19, 2022–(BUSINESS WIRE)–Battery Ventures, a global technology-focused investment firm, today announced the sale of its portfolio company Qognify, a provider of physical security and incident management software, to HexagonAB.

Terms of the transaction were not disclosed and remain subject to customary regulatory review.

Based in Pearl River, NY, Qognify helps thousands of companies and organizations around the world manage physical security and business operations through video surveillance technology and incident management software, among other things. . The company has customers in manufacturing, transportation, retail, education, finance, logistics, corrections and government agencies. It operates major development centers in Germany and Israel, in addition to the United States, as well as sales and support offices around the world.

“Qognify is a great example of our buyout strategy that identifies best-in-class technologies and then drives growth through product leadership and R&D as well as strategic acquisitions,” said Jesse Feldman, General Partner at Battery. “We are proud that this industry leadership was recognized and appreciated by Hexagon when we acquired Qognify. »

Battery formed Qognify in 2015 through a spin-off from NICE Systems’ physical security business unit. In 2018, Qognify acquired On-Net Surveillance Systems Inc. with its OnSSI and SeeTec brands forming a leading global player in the physical security market.

“Battery has been a great partner for Qognify as we have built a comprehensive platform in the critical area of ​​security and incident management,” said Steve Shine, CEO of Qognify. “We look forward to continuing our legacy of product leadership while further integrating our solutions into Hexagon’s public safety suite to better serve our existing customers as well as new Hexagon customers.”

Raymond James acted as financial advisor to the company.

About Battery Ventures

Battery partners with exceptional founders and management teams to grow category-defining companies in markets such as software and services, enterprise infrastructure, consumer technology, healthcare IT, industrial technology and life science tools. Founded in 1983, the firm supports companies at all stages, from seed to growth and buyout, investing globally from offices in Boston, San Francisco, Menlo Park, New York, London and Tel Aviv. Follow the company on Twitter @BatteryVentures, visit our website at www.battery.com and find a complete list of battery portfolio companies here.

About Qognify

Qognify helps protect your world by focusing on results for customers who value physical security highly. Qognify provides solutions to reduce risk, increase security and optimize operations, serving thousands of customers worldwide as a trusted advisor. Qognify’s comprehensive portfolio includes physical security and incident management solutions that add value to many industries, including manufacturing companies, transportation authorities, retail chains, banks and other financial institutions. , ports and seaports, logistics service providers, schools and universities, correctional facilities, critical infrastructure and cities. Headquartered in Pearl River, New York, Qognify operates major development centers in Germany and Israel, as well as sales and support offices around the world.

The text of the press release, derived from a translation, should in no way be considered official. The only authentic version of the press release is that of the press release in the original language. The translation will always have to be compared with the source text, which will set a precedent.

See the source version at businesswire.com: https://www.businesswire.com/news/home/20221218005076/en/

contacts

Rebecca Buckman
Marketing Partner, Battery Ventures
[email protected]
650-292-2077

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