Cognitive Credit, a provider of data and analytics software for corporate credit markets, has successfully closed a $10m Series B funding round.
According to Tech Dogs, this significant investment was led by ETFS Capital, with continued participation from existing investor XTX Ventures.
The fresh influx of capital will enable Cognitive Credit to broaden its reach into additional markets while continuing to refine its product offerings. The firm is set to further develop its innovative solutions, including algorithmic debt valuation and AI-driven tools tailored for institutional investors.
Specialising in enhancing operational efficiencies and competitive advantages for investment firms, Cognitive Credit offers unparalleled structured data in an industry traditionally dominated by specialist providers. The company serves an impressive roster, including all of the top ten global high yield banks, reinforcing its position at the forefront of digital transformation in the corporate credit sector.
The funds from this Series B round will be specifically allocated towards the expansion of Cognitive Credit’s market presence and the enhancement of its platform’s functionalities. This strategy aims to meet the growing demands for technological innovation in credit market analysis, which is increasingly moving towards systematic trading strategies.
Robert Slater, CEO and Founder of Cognitive Credit, expressed enthusiasm about the future, stating, “With the digital evolution of credit now inevitable, we are pleased to have ETFS join our team given their deep experience in capital markets innovation. Building the best-in-class dataset for one of the world’s largest asset classes remains an ambitious task, and we are excited about the opportunities ahead of us.”
Martyn James, Managing Partner at ETFS Capital, also commented on the investment, “As global credit markets expand and increasingly transition to electronic trading, data and automation plays a crucial role for investors. Cognitive Credit’s software has best-in-class proprietary data collection capabilities and presents this data in a web-based application which boasts an exceptional suite of functionality. This positions Cognitive Credit as an essential tool for credit investors. The Company’s impressive growth to date underscores its potential, especially as it broadens its reach into additional fixed-income sub-categories and further enhances its platform’s capabilities and product offering.”
This funding round brings Cognitive Credit’s total capital raised to $25m, following a successful $15m Series A in late 2021. Since then, the company has quadrupled its client base, more than doubled its team size, and seen a sevenfold increase in its annual recurring revenue.
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