Scaling up Alytic portfolio

Since the day Alytic acquired its portfolio companies, the number of employees has more than tripled.



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“We are equipping our companies with the necessary resources to grow. With technological and commercial teams in place, we are ready to scale-up, enter new markets, and build recurring revenues,” says Espen Zachariassen, CEO of Alytic.

In 2020, Alytic was established by Arendals Fossekompani to acquire and develop sustainable companies with strong domain competence and data at the core.

“In many sectors and markets there is a large untapped potential for utilizing data effectively to gain insight and make qualified decisions. This includes the development of better solutions to process, analyze, and visualize available information,” explains Zachariassen.

Seizing such opportunities, Alytic has spent more than NOK 200 million to build seafood specialist Kontali, carbon and renewables expert Veyt, sustainability documentation provider Factlines, and telecom data analyst Utel.

FROM 35 TO 122

The number of employees across all portfolio companies, and Alytic itself, has grown from 35 on the day of acquisition – to 122 today.

Alytic’s companies have recruited leading analysts and tech-teams who work together to transform existing products, create new products, and better understand clients and the market. In addition, commercial teams have been hired to improve and scale marketing and sales.

“This is the classic way of building a Software-as-a-Service company. Anyone can read how to do it. Our differentiator is our track record and operational experience. The Alytic team has done it before with great success,” says Zachariassen, referring to how he and other Alytic resources established Wattsight (now part of Volue) and grew it into a billion-NOK company.


According to Zachariassen, part of Alytic’s secret sauce is the capability to identify and work with skilled experts who can solve specific problems within attractive industries.

“We provide support in strategy, leadership, sales, recruitment, HR, data science and technology. This helps our companies enhance product offerings, reach new markets, and ensure recurring revenues. By blending deep expertise, capital, and data, we are able to develop thriving businesses,” says Zachariassen. Alytic companies now have more than 400 customers.

The number of employees in the current Alytic portfolio is likely to continue to grow, but at a lower rate than before.

“Scale is achieved by strong, efficient organisations. Going forward, our emphasis will be on making the existing organisations more efficient,” says Zachariassen, “In addition, we are always open to discuss potential bolt-on acquisitions and new investments within our mandate.”


Arendals Fossekompani has invested heavily in the building of Alytic and its portfolio companies. CEO Benjamin Golding is pleased with the development.

“In Alytic, Arendals Fossekompani has created a platform for investments and development of early-phase companies, which in various ways transform data to meaningful insights. Portfolio companies are well positioned and currently in their early scale-up phase. So far in 2023, annual recurring revenues are up by more than 70 per cent compared to the year before,” says Golding.

Alytic was established in 2020.
Employees: 6 (+5 from establishment)

Kontali was acquired in 2020.
Employees: 37 (+21 since acquisition)

Utel was acquired in 2021.
Employees: 10 (+3 since acquisition)

Veyt was acquired in 2021.
Employees: 41 (+35 since acquisition)

Factlines was acquired in 2022.
Employees: 28 (+22 since acquisition)