Cognigy raises $100M and has 175 customers across 1,000+ brands
This has been sitting in my queue since June and I have been meaning to make sure I documented it for posterity.
I was talking to a client the other day about Cognigy and I casually mentioned the 'hundred million' they'd raised.
"What?" asked the client, suddenly curious.
They'd missed the news. I found the release on the Cognigy website and showed it to them.
"Wow," was the reply.
Interestingly (and rightly or wrongly) the client – an executive from a large financial institution – immediately found Cognigy a lot more credible than 20 seconds beforehand.
Sometimes a large funding announcement can have that effect.
So I resolved to make sure I wrote about it here, especially on the back of the post I wrote earlier about the company's great win with European insurance leader, ERGO Group (25+ countries).
TechCrunch reports that the company has raised $175M so far, with the European private equity group Eurazeo leading the Series C of $100M.
That's pause-for-thought money, isn't it? I can think of quite a few vendors and clients who are definitely somewhat awestruck.
It looks to me like Cognigy is executing on a very well-known and reliable playbook: Get big fast. With a team of 175 in Germany and the States, the CEO Philipp Heltewig tells TechCrunch he reckons that figure will be 250 by the end of the year. And what... 500 by 2026? (Just guessing!)
Good luck to the Cognigy team.
