Newable participate in £2.8 million funding round
Cognism, the end-to-end sales acceleration solution providing organisations with a more intelligent way to prospect, today announces that it has raised £2.8 million in a funding round from investors including Oliver Wyman, South Central Ventures, LCIF, Newable and other existing investors. The funding follows strong growth since Cognism was founded in 2016.
Cognism has grown rapidly in revenue in 2018, experiencing 23% monthly growth. The company was seeking expansion capital and selected Oliver Wyman to partner with in order to bring its platform to the Enterprise level, alongside South Central Ventures who remains the lead investor in the company. The funding will primarily be used to enhance the solution for Enterprises and also expand the offering into the Financial Services sector.
James Isilay, CEO, Cognism comments: “Cognism is moving beyond sales intelligence and applying its patented machine intelligence technology to understand the revenue challenges at the Enterprise level. With our new investment and collaboration with Oliver Wyman, we will be able to introduce our pioneering Revenue AI technology internationally to the top corporates of the world, driving faster top-line revenue growth.”
James continues, “There is a natural fit between the data and analytics the Cognism platform provides and the strategy that can then be derived to enhance revenue at the Enterprise level. We are keen to showcase this value to this sector and hope our collaboration with Oliver Wyman will propel us forward and continue our strong growth.”
Kai Upadek, Partner at Oliver Wyman comments: “Our clients are continuously looking for new ways to accelerate growth. Cognism technology will provide our clients with dynamic insights into their existing client base, enabling them to develop more targeted solutions and improving sales success. At the same time, Cognism technology will allow our clients to make a step change in their prospecting efforts. Cognism’s data asset will allow our clients to identify prospects matching detailed personas, leveraging data on over 400M companies and individuals.”
“It is exciting to see Cognism developing at such a pace and moving towards servicing the Enterprise level customers. Developing its product offering beyond pure sales intelligence by applying proprietary machine intelligence technology positions Cognism as one of the leading companies in this space.
Collaboration with Oliver Wyman will enable Cognism to polish its solutions to better address the needs of Enterprise level customers, thus enabling them to enhance their revenue growth. We are proud to support Cognism on this exciting journey,” says Tatjana Zabasu Mikuž, Managing Partner at SCV.
Deputy Mayor for Business, Rajesh Agrawal, said: “This investment is great news for the capital’s world-leading tech sector. The Mayor and I are committed to doing all we can to support innovative small businesses like Cognism. They make a fantastic contribution to our economy and this is further proof that London is open for business.”
Source – https://www.prnewswire.com/news-releases/cognism-raises-ps2-8m-funding-round-led-by-oliver-wyman-to-expand-enterprise-solution-859150198.html