AI start-up Cognism closes £2m funding round
Cognism has closed a £2 million funding round with the help of Newable Private Investing and the London Co-Investment Fund.
The start-up will use the funds to open new offices in the United States alongside its base in Macedonia. It will also accelerate plans to double the company's headcount at its UK HQ over the next year.
Since its founding in 2016, Cognism has grown to over 80 paying customers in Europe and America and extended its technology to become native in Salesforce and Microsoft Dynamics, becoming a leading name in European Sales Intelligence.
Investing £400,000, Newable Private Investing partnered with the London Co-Investment Fund - which is backed by the Mayor Sadiq Khan and supports early-stage tech, science and digital start-ups in the UK's capital.
The round was led by South Central Ventures and supported by Startup Funding Club.
"This funding is a testament to the team's hard work and passion,” said Cognism CEO James Isilay.
“This latest round is central to our strategy of providing the best technology in sales intelligence to improve prospecting performance and to meet a new quality standard in GDPR compliant contact data.
"We couldn't have achieved this without the support of Newable Private Investing and the London Co-Investment Fund."
Newable Private Investing is one of the UK's leading private investment groups, providing support to cutting-edge start-ups.
"Generating and converting leads is crucial for all businesses and Cognism's use of cutting edge AI technology is generating big gains for their clients,” said Newable Private Investing managing director Anthony Clarke.
"For many start-ups access to finance can be the biggest blocker to future growth and we're delighted that Newable Private Investing has been able to help this innovative business to continue to grow."