What Iterate Norway does

Iterate Norway is an Oslo-based private venture builder and digital product consultancy founded in 2007, operating three integrated lines of business. The first is traditional consulting, where Iterate embeds cross-functional product teams (developers, designers, product managers) inside client organizations to design, build, and modernize digital products using an iterative and low-risk methodology. Major engagements include a complete redesign of Hurtigruten's Polar Global booking platform, a simultaneous redesign of 100+ Amedia newspapers through a shared multi-brand design system, and a multi-year application-development agreement with Vy Group covering both customer-facing and mission-critical internal tools.

The second line is venture building: since 2016 Iterate has created and invested in 18 startup companies, retaining 13 portfolio subsidiaries spanning consumer (Woolit knitting-pattern design tool, Byvoks candles, 17b interior objects), health (Flowzone patient follow-up, Noba FODMAP app), gaming (Take Take Take fantasy chess with Magnus Carlsen, FC Quiz), B2B tools (UX Signals, Vake satellite ship tracking), and marketplaces (Arkivet, Dagens). The third line is SaaS commercialization of internal software tools, including UX Signals for user-testing scheduling and Vake for maritime tracking, sold to both startup and enterprise clients.

Iterate's revenue model blends professional-services fees (consulting engagements, retained product teams), equity upside from venture portfolio stakes (including the prior Porterbuddy exit), and recurring SaaS subscriptions from in-house tools. The company had 80 employees and 90 MNOK (~$10.3M USD) turnover as of September 2022, when it accepted a 100 MNOK strategic investment from Aars (the Møller family office) and welcomed Aars to the board. Ownership remains concentrated among co-founders Anders Haugeto (Chairman), Kim Ophus Leskovsky (Creative Director), and CEO Rune Larsen, with most employees holding equity and notable external shareholders including Charles Adler (Kickstarter co-founder). The company is headquartered at Schweigaards gate 34E, Oslo, and is recognized on Fast Company's 2022 Best Workplaces for Innovators list.

Name

Iterate Norway

Legal name

Iterate Norway

Website

https://iterate.no

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

51–100 employees

Short description

Oslo-based venture builder and digital product consultancy founded in 2007, operating an embedded product-team consulting practice, a 13-venture portfolio spanning consumer/health/B2B/gaming, and a SaaS tools unit for Norwegian and Nordic enterprise clients.

Ownership category

akta.pro rank

Product category

Digital Product Consulting

NAICS

Computer Systems Design Services (541512), Graphic Design Services (54143)

SIC

Services-Computer Programming Services (7371), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Venture Studios / Company Builders (FSANAAAH)

akta.pro secondary industries

IT & Software Engineering Staffing (BPACADAA), Industrial/Product & Furniture Design (BPAHAKAM)

Keywords

• Digital product development
• Venture building services
• Software consulting
• Digital transformation consulting
• Product design services

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Consulting Services: Traditional consulting activities in software development, digitization, branding and product design. Iterate assembles experienced product teams with developers, designers, and product managers who work closely with clients.
2. Venture Building and Investment: Investment into early-stage companies and in-house software development. Since 2016, Iterate has invested in 18 startup companies including Woolit, Vake, Flow Technologies, Dagens, and sold ownership stake in Porterbuddy.
3. SaaS Tools: Iterate has developed internal software tools primarily for startup companies, which are also used by more mature companies. These startup tools are sold using a software as a service (SaaS) model.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Iterate Norway assembles experienced cross-functional product teams (developers, designers, product managers) that work closely with clients to develop new digital products or enhance existing ones, using an iterative and low-risk approach. The company also operates a venture builder model, investing in and incubating startup companies, allowing employees to launch their own ventures while employed at Iterate.

Product overview

Iterate Norway is a venture builder and consulting company that combines experienced product teams (developers, designers, and product managers) to develop new digital products or enhance existing ones for clients. The company operates across multiple business areas: traditional consulting in software development, digitization, branding and product design; investment into early-stage companies through their venture building program; and in-house software development. The venture portfolio includes Take Take Take (fantasy chess app), UX Signals, Woolit, Vake, Flowzone, Noba, Byvoks, 17b, Ta Vare, Hjernelæring, and various external investments. Their consulting services span digitalization, design, development, and data-driven transformation. They also produce a newsletter called ITERLOG.

Differentiator

Problem solved

Functional benefit

Products and services

• Digitalisering (Digitalization) Helps companies develop and implement digital strategies using an iterative and low-risk approach, covering digitization strategy formulation and execution.
• Design Product and visual design services for digital products, covering UX/UI design, brand identity, and multi-brand design systems for digital channels.
• Utvikling (Development) Software development services for building and shipping digital products, covering both user-facing applications and mission-critical internal tools.
• Datadrevet transformasjon (Data-driven transformation) Data analytics and transformation services to help companies leverage data for business decisions, including AI, knowledge graphs, and ontologies.
• Venture Building Iterate's venture building program that allows employees to start their own startup companies during work hours, with company support and funding. Portfolio includes wholly-owned and minority-held ventures.
• Take Take Take (formerly Fantasy Chess) A fantasy chess application where users compose virtual teams of real chess players and earn points based on player performance in real tournaments, co-developed with Magnus Carlsen.
• UX Signals Scheduling tool that makes it easy to plan and run user testing sessions.
• Woolit Design tool for creative knitters to design, publish, and sell knitting patterns.
• Vake Ship tracking service using satellite and machine learning technology.
• Flowzone Digital patient follow-up and health clinic management platform operating in Norway and Germany.
• Noba Norwegian FODMAP app helping people with irritable bowel syndrome (IBS) follow a proven diet.
• Ta Vare Home maintenance wheel with reminders for household tasks designed to extend the life of household items.
• Hjernelæring Emotional training tools for children, providing resources for adults to build good mental health in children.

Quantifiable outcome

• 300% sales growth for Northern Playground after brand and digital transformation
• +1 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Partnerships

Five partnerships are on record, tiered core, flagship and minor.

• Vy GroupcoreStrategic or Co-development Partner · 22 August 2023Iterate signed a large 4-year agreement with Vy Group, the Nordic's largest land transportation company. Iterate contributes in application development areas, both user-facing points used by millions and mission-critical internal tools. The partnership includes working together in several areas of innovation.
• Pawn (Magnus Carlsen Joint Venture)flagshipStrategic or Co-development Partner · 27 April 2023Iterate joined with Magnus Carlsen and Norway Chess to launch Pawn, a joint venture to develop Fantasy Chess. The first major product is a global Fantasy Chess app where chess enthusiasts can organize fantasy leagues and compete based on real-world tournament games. Magnus Carlsen holds 60% ownership after player base grew past 900.
• Norway ChessflagshipStrategic or Co-development Partner · 18 April 2023Iterate partnered with Norway Chess as a tech partner for their major chess events. The partnership involves working on web experiences and developing innovative chess-related digital products. Norway Chess is known as one of the world's best chess tournaments.
• SINTEFminorStrategic or Co-development Partner · 3 April 2023Iterate and SINTEF co-hosted 'Digitalisering: frokost for helter!' (Digitalization: breakfast for heroes), a breakfast seminar on digitalization topics including digitization vs digital transformation and practical advice on reducing risk.
• DNVcoreStrategic or Co-development PartnerIterate collaborated with DNV on Smarter Compliance for Aquaculture project, combining Iterate's agile venture building mindset with DNV's deep technical expertise and regulatory knowledge. The project developed AI-powered compliance solutions using knowledge graphs and ontologies.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Antler: Global venture builder that identifies and recruits founders, then supports them through company-building. Directly comparable to Iterate's model of enabling employees to spin out ventures while providing operational support.
• Founders Factory: UK-based venture studio that builds and scales startups with corporate partners. Closely matches Iterate's hybrid of venture creation plus enterprise client work.
• Entrepreneurs First (EF): Talent-first venture builder that finds exceptional individuals and helps them form companies from scratch. Comparable to Iterate's employee spin-out model.
• Idealab: Pioneer venture studio that has created 150+ companies since 1996. Directly comparable as an established company builder, though operating at much larger scale in the US.
• ustwo: Digital product studio that designs and builds apps and ventures (e.g., Monument Valley). Mirrors Iterate's combination of client product work and internal venture creation, with similar boutique scale.
• Mach49: Venture builder that partners with large corporations to launch new ventures. Comparable to Iterate's enterprise engagement model plus internal venture building capability.

Regional players

• Bouvet: Norwegian-Swedish IT and digital consultancy listed on Oslo Børs. Closest Nordic peer in terms of geography and IT consulting services, though Iterate's venture building adds a distinct angle.
• Knowit: Nordic digital consultancy spanning Sweden, Norway, Finland, and Denmark. Comparable as a regional digital product development competitor with similar enterprise customer base.
• Netlight: Nordic management and IT consultancy with strong design and product development capabilities. Comparable to Iterate's premium consulting arm in the Nordic market.

Broad incumbents

• Rocket Internet: Global venture builder focused on internet and technology companies. Comparable venture builder model but operates at vastly larger scale and focuses on e-commerce/tech rather than bespoke digital products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights8 records

Customer concentration

• Facebookfacebook.com/iteratenorge
• LinkedInlinkedin.com/company/iterate
• Instagraminstagram.com/iterate.no
• Xx.com/iterate_no

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Iterate Norway