Battery exits security software firm Qognify

• Battery formed Qognify in 2015 through a spinout of NICE System’s physical security business unit
• Qognify operates major development hubs in Germany, Israel and the US
• Battery invests in tech companies

Battery Ventures has sold Pearl River, New York-basec Qognify, a provider of physical-security and incident-management software, to Hexagon AB. No financial terms were disclosed.

Qognify helps thousands of companies and organizations around the world manage physical security and business operations through video surveillance technology and incident-response management software, among other technologies. The company operates major development hubs in Germany and Israel, in addition to the U.S.

“Qognify is a great example of our buyout strategy in action — identifying best-in-class technologies and then driving growth through product leadership and R&D as well as strategic acquisitions,” said Battery General Partner Jesse Feldman in a statement. “We are proud this industry-leadership was recognized and valued by Hexagon, as it acquires Qognify.”

Battery formed Qognify in 2015 through a spinout of NICE System’s physical security business unit. In 2018, Qognify acquired On-Net Surveillance Systems Inc. with its brands OnSSI and SeeTec.

Raymond James acted as financial advisor to Qognify.

Battery was founded in 1983. The firm backs tech comanies.