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November 20 2024
In this series, we will portrait the CEOs of Grieg Kapital’s portfolio companies and give some insight into their background and perspectives. Next one in this series is Sigbjørn Nome, CEO & Co-founder in Ignite, which is a software company that aims at being the leading platform for sustainable procurement. Grieg Kapital has been an investor in Ignite since 2023 and actively contributes through our seat at the company’s board.
Who is Sigbjørn?
Sigbjørn Nome is a 38-year-old man living in Oslo. He is passionate about building businesses, working with smart people, and creating impact for companies. In his spare time, he likes to be active through different activities like football, cross-country skiing, cycling, and running.
Sigbjørn’s journey
Sigbjørn grew up in the north of Norway in Alta. After graduating high school, he took a Master of Science in Business Administration at the Norwegian School of Economics (NHH) in Bergen. After a few years in NVE and SAS, he became a management consultant at Boston Consulting Group (BCG). It was at BCG he was introduced to the procurement domain, and he did several procurement transformation projects for large corporations at BCG. In BCG he was also the coach of the BCG Football Team together with his co-founder Børge Langedal, and in early 2016 they decided to leave BCG and start Ignite.
Why did he choose to found a company like Ignite?
While working at BCG, the two co-founders was struck by how companies approached procurement in large organizations. It was often driven by gut feeling and relationships rather than being strategic or data-driven. Recognizing the potential to guide companies on a more effective path, the two of them embarked on a mission to help organizations evolve their procurement processes. They began as consultants, taking on procurement projects on a no-cure, no-pay basis, utilizing an advanced Excel model to identify potential savings.
Over time, they noticed a recurring pattern in the types of work and analyses conducted during the initial phases of these projects. This insight led to the realization that their impact could be amplified by leveraging modern technology to provide companies with direct access to actionable insights. While continuing their consulting projects, they began developing a SaaS solution designed to give clients an overview of their spend, categories, and suppliers while also identifying savings opportunities. Since then, the product range has expanded to include environmental and social aspects, further enriching the insights provided
What’s Sigbjørn’s definition of success?
His definition of success is creating measurable impact for the customers in a scalable way. With impact in Ignite terms it means realizing our vision by helping them get control of their spend, suppliers and emissions, and ultimately reduce their costs, risks and emissions. To realize this impact Sigbjørn believe the most important enabler is the quality of the people working towards the vision.
Leadership style and company culture
Sigbjørn believe in setting a clear direction for the company, getting the right people on board with the right mindset that are motivated by the vision and ensuring we have the resources and capital needed to realize the strategy.
In Ignite, they have a team of young and ambitious people who are dedicated to working towards their vision while taking care of each other and the customers.
Short-term goals for Ignite
Ignite is the leading solution in Norway, empowering companies to make responsible procurement decisions. The next step is becoming the leader across Scandinavia, by ensuring that they deliver undisputable impact to the companies in their target markets.
Where is Ignite in five years?
Ignite aim to become a global leader in empowering companies to make responsible procurement decisions. Over the next five years, they intend to take significant steps toward this goal and expand their presence into new markets.
What is Grieg Kapital like as an investor?
Grieg Kapital led the last investment round and has contributed as a valuable member of the board and sparring partner since then.
Ignite in brief
Ignite brings all your scattered procurement data into one place to give you full control over suppliers and spend. With a unified view of costs, emissions, and risks, Ignite empowers you to uncover actionable insights and make informed decisions. Take meaningful action across procurement priorities — from reducing costs and managing suppliers to addressing emissions and social impacts in your supply chain.
If you want to hear more about Ignite, feel free to reach out to any of us in the team of Grieg Kapital, or Ignite directly.
