UK Sales Intelligence vendor Cognism closed on a $12.5 million funding round led by AXA Venture Partners and joined by Swisscom Ventures. Existing investors Investiere and VentureFounders also participated. Cognism will be deploying the funds to expand its presence in the UK and Europe, including additional functionality and solutions for the global market.
The firm is coming off a strong 2020, during which ARR rose 60% to $11 million. In January, MRR passed $1 million for the first time. Cognism supports over 1,000 customers spread across 30 countries.
“We continue to invest in making our data compliant in every one of the 30 countries in which we operate,” said CEO James Isilay. “Our patented AI technology solution makes the process of finding the right prospect faster, more accurate, and compliant, which is now a top priority for all businesses.”
Cognism attributed its success to the strong demand for compliant B2B prospecting data and “the company’s ongoing commitment to adhering to global regulations.”
“Sales intelligence is crucial for making sellers more productive, even more so when people are working from home. Cognism is well-positioned to become the leading company in Europe, and we are excited to be part of that journey.”Stefan Kuentz, Partner at Swisscom Ventures
Isilay said that Cognism is “moving more upmarket towards enterprise” and hiring account executives and managers. “We’ve got a very strong revenue engine, and now we’re really planning out and getting our retention engine to the next level.”
Cognism, which completed acquired Mailtastic and Ricochet least year, has another in the works. “We really want to be that go-to-market intelligence leader in not just Europe, but the world, and I think we’re going in the right direction right now. Things are looking very positive at the moment.” London-based Cognism was founded in 2015 and grew its employment by 60% over the past year to 223 employees.