Swedish software company OciusX has increased its annual recurring revenue (ARR) by 69% over the past year, with 90% generated in the U.S. market, where the company has rapidly established a strong position. OciusX is now raising NOK 120 million from Nordic software investor Viking Growth.
The transaction includes both the acquisition of existing shares and new growth capital to support OciusX's continued U.S. expansion.
OciusX has developed a software platform for companies building fiber networks and other linear infrastructure. Designed by professionals with direct fiber deployment experience, the platform reflects how construction teams operate in the field.
Field crews use the OciusX app to document completed work with photos and data during construction. This provides contractors, network operators, and infrastructure owners with real-time project visibility from completion through approval and invoicing.
Today, OciusX serves more than 80 customers in seven countries, with over 3,000 field crews using the platform weekly. ARR grew 69% in the past year. Net revenue retention (NRR) exceeds 130%, indicating strong expansion among existing customers.
Pär Cedergren, CEO and co-founder of OciusX and Andreas Sandbu, Investment Director at Viking Growth.
The U.S. has rapidly become OciusX's most important market, accounting for approximately 90% of the company's business.
Fiber deployment in the U.S. has accelerated significantly. In 2025 alone, fiber reached 11.8 million homes, with approximately 60 million homes still to be connected.
- We built OciusX to solve a problem we had experienced ourselves, knowing what has actually been built, being able to prove the work, and getting it approved and invoiced. The fact that the U.S. has become our largest market by far in just a few years shows how universal this challenge is. Viking Growth has supported Nordic software companies through this journey before. With them as our partner, we can build a stronger organization in the U.S. and continue developing the product without losing the practical, field-driven perspective that has brought us this far, says Pär Cedergren, CEO and co-founder of OciusX.
The investment will enable OciusX to significantly strengthen its commercial presence in the U.S. The company will expand its sales organization and continue to invest in product development. Over time, OciusX also sees opportunities to expand its customer base into other areas of critical infrastructure, including electricity, water, and gas.
OciusX aligns with Viking Growth's investment approach by operating in a rapidly expanding market, demonstrating strong customer retention, and developing its software in close collaboration with end users.
- OciusX has delivered an impressive growth journey over the past few years. The fact that the company is both winning new customers and expanding significantly within its existing customer base strongly indicates that the product addresses an important market need. We see a significant opportunity to work with the team to scale OciusX much further, particularly in the U.S. market, says Andreas Sandbu, Investment Director at Viking Growth.
Christine Karlsen Hammeren, Viking Growth
christine.hammeren@vikinggrowth.com,+47 482 06 447
Pär Cedergren, OciusX
par.cedergren@ociusx.com, +46 70 671 47 29
OciusX develops software for managing fiber deployment and other infrastructure construction projects. Its platform lets field crews document completed work on site with data and images, giving contractors, network operators, and infrastructure owners a shared source of information from construction through approval and invoicing.
Through its field-driven "reality first" approach, OciusX starts with what has actually been built rather than relying on models and assumptions.
OciusX began as an internal tool in 2013 and was commercially launched in 2019. Today, more than 3,000 field crews use the platform every week. The company has more than 80 customers across seven countries, 13 employees, and its headquarters in Stockholm. Customers include network operators, consultants, and construction companies in the fiber industry.
Viking Growth is a Nordic growth investor specializing in B2B software companies. The firm has 20 active portfolio companies and has invested in more than 40 software companies since its inception.
With 25 years of experience scaling Nordic software companies, Viking Growth combines capital with operational expertise in areas including pricing, go-to-market strategy, and international expansion. Viking Growth is headquartered in Trondheim and invests in software companies across the Nordic region.
Kongens gate 8, 7011 Trondheim
© Viking Growth 2025
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