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.
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.
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.
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.
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.
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.
- 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%
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