Newable Ventures Investee Company Cognism Raises $87.5m Round
Cognism will use the funding to fuel its expansion across Europe and strengthen its position in the US.
London-based B2B-focused sales and marketing lead generation platform provider Cognism has raised $87.5m (£64m) in funding. The Series C round was led by new investor Viking Global Investors while other participants included fellow new investor Blue Cloud Ventures and follow-on investors AXA Venture Partners, Swisscom Ventures and Volution.
Cognism, founded in 2015, provides tools to sales teams for generating data on sales leads. Cognism’s software is compliant with data regulations such as GDPR, which was introduced in Europe in May 2018. Cognism says its technology helped over 1,000 customers in over 40 countries access compliant contact and contextual data in 2021. The year also saw the company launch Diamond Data, which provides phone-verified contacts for business development teams internationally.
While expansion in the US and Europe remains a priority for Cognism, carrying out acquisitions is also a possibility, something the company has done before, when in 2020, Cognism acquired the technology assets of Ricochet, a UK start-up behind an eponymous Google Chrome extension for sales professionals and recruiters.
The company now has customers operating in over 40 countries around the globe, with 250 employees based in seven countries including the US, the UK, Canada, South Africa, Croatia, Macedonia, and Germany. 2021 saw the opening of a US office in Boston, and an impressive ARR growth of 100%.
Newable Ventures Investment Director Avantika commented,
On behalf of the Newable Ventures fund, I would like to congratulate James and the entire team for this latest funding round. We have thoroughly enjoyed working with the Cognism team, since our first investment in 2017, and look forward to supporting them as they continue to grow and scale.
Newable Ventures is an EIS evergreen Fund that invests in 7-10 portfolio companies in the SpaceTech, MedTech and Automations sectors.
Find out more about Cognism here.
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