Compliance prospecting solution, Cognism secured £9m in a funding round led by AXA Venture Partners and Swisscom Ventures.
Other existing investors that took part in the round included Investiere and VentureFounders.
With this investment, the UK startup plans to expand across Europe. Furthermore, it intends to consolidate its position as a leading provider of compliant and intelligent B2B contact data.
Founded in 2015, Cognism is an AI-driven startup that provides organisations with compliant B2B data and a suite of sales acceleration tools to help implement it. The startup also provides transformative solutions to help revenue teams drive predictable lead generation and improve conversions across all engagements.
Commenting on the round, Cognism CEO James Isilay said, “This funding round marks the continued recognition of the strength of our team as we are now one of the biggest go-to-market data providers in Europe.”
Highlighting the importance of the firm’s services especially in the current times of work-from-home, Swisscom Ventures partner Stefan Kuentz said, “Sales intelligence is crucial for making sellers more productive, even more so when people are working from home.”
After the introduction of the GDPR in May 2018, Cognism capitalised on the opportunity to build a compliant product and grew its network. Through its technology, the firm helped over 1,000 customers in 30 countries access compliant prospect data in 2020.
To add on, the company witnessed a 60% year-on-year growth in 2020 with its average rate of return surging to $11m from $7m. In January 2021, the company’s monthly ARR surpassed $1m.
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