London AI sales 'acceleration' platform Cognism raises $10m Series B
Cognism, a London-based sales and marketing platform, has raised $10 million to fund international expansion.
The company says it will use the money, secured in a round led by PeakSpan Capital, to open offices in Boston and Singapore.
Cognism uses its own AI technology to provide a real-time blend of key data to boost prospecting and sales processes in B2B companies.
The company was founded in 2016 by algorithmic technology and natural language processing expert James Isilay, and claims to have experienced 400 per cent growth during 2018.
Cognism was granted its first patent in December 2018. It says it will also use the new investment to expand its machine learning team.
Isilay said: “This past year we have grown ARR by over 4x. These new funds from PeakSpan mark the beginning of an exciting expansion for Cognism, giving us the resources to expand globally. Having already won significant business remotely in Asia and North America, we will now open local offices to serve the demand.
“Having been granted our first machine learning patent in December 2018, Cognism is now building a portfolio of IP which will drive the next evolution of sales and marketing technology.”
Matt Melymuka, Co-Founder and Partner at PeakSpan, added: “Sales and marketing technology has been a core focus of ours for many years, arming us with a long-term perspective on the segment and a nuanced understanding of market trends and buyer dynamics that drive strategic value.
“With such a proliferation of tools and technologies emerging across the marketing and sales landscape over the last decade, it’s no secret that go-to-market leaders today aren’t asking for more software tools – they’re demanding better outcomes.
“Cognism’s pragmatic application of AI, which underpins the whole solution suite, is paving the way for a new category focused on turning disparate data points into coordinated insights to drive predictive and prescriptive lead generation and improve conversion across all engagements.”