Overview
Founded in 1986, TARGIT has long helped organizations make smarter, faster decisions through data. When GRO partnered with the company in 2017, TARGIT was a horizontal, on-premise BI provider with a strong presence in Denmark. Eight years later, the company has transformed into a cloud-enabled, vertical-focused analytics platform with AI capabilities and a growing international customer base – ready for the next phase of its journey.
Renewing the Foundation
Together with GRO, TARGIT set out to build a leadership team capable of driving long-term transformation. A new CEO, Jakob H. Kraglund, joined alongside a new CRO and CFO, bringing fresh perspectives and commercial ambition. Under their leadership as well as the existing CTO, TARGIT fostered a culture of agility and customer-centricity – laying the foundation for the company’s evolution into a well-driven, international organization.
Transitioning the GTM with vertical focus and SaaS conversion
To compete in an increasingly competed BI landscape, TARGIT and GRO made the strategic decision to pivot from a broad, horizontal position to a vertical-first strategy. Tailored go-to-market motions were built for high-value industries including automotive dealerships, heavy equipment dealerships, and convenience stores – segments with underserved yet very specific data and insight requirements.
In parallel, TARGIT undertook a full transition from on-premise perpetual licenses to a modern, subscription-based revenue model. This shift required new sales capabilities, pricing strategies, and customer success initiatives, all designed to drive long-term value and retention.
Modernizing the technology through cloud and customer-driven AI capabilities
A centerpiece in TARGIT’s transformation was the complete overhaul of the existing technology. The company rebuilt its platform, replacing the legacy code and, in parallel, launched a fully cloud-enabled BI suite, positioning the TARGIT to support its customers’ journey to the cloud.
Based on true customer needs, TARGIT further introduced foundational AI capabilities and a solid roadmap to further differentiate its offering in key verticals and to empower users to surface insights more intelligently and efficiently.
Scaling internationally through organic growth and M&A
TARGIT’s expansion journey in core verticals included targeted international expansion across North America and Europe through both organic initiatives and strategic M&A.
In the U.S., TARGIT solidified its Heavy Equipment presence through acquiring a specialized services company, opening doors for further expansion. In Europe, the acquisition of a Benelux-based long-standing partner added substantial technical capabilities within the Automotive vertical while adding market share in the Benelux market.
The geographical expansion was complemented by structured organic initiatives including targeted vertical-specific GTM programs and localized customer success efforts.
The Next Chapter: Joining Forterro for the continued growth journey
In 2025, following eight years of strategic partnership with GRO, TARGIT was acquired by Forterro, a leading European provider of ERP software for the industrial midmarket. As a new line of business within Forterro, TARGIT’s vertical BI capabilities will play a central role in expanding the group’s analytics offering.
Milestones in the partnership with GRO
- Launch of vertical-focused GTM approach with significant traction in core verticals
- International expansion through organic initiatives and M&A, effectively increasing the share of revenue from North America from c. 35% to +45%
- Complete modernization of technology including launch of a new cloud product
- Improved recurrency through conversion initiatives to SaaS and through new cloud sales, increasing recurring revenue from c. 50% to c. 80%
