London-based Cogna, a provider of precision software solutions, announced on Monday that it has secured $15M (approximately €14M) in a Series A funding round led by Notion Capital, with participation from Hoxton Ventures and Chalfen Ventures.
With this investment, the London-based company plans to expand its platform capabilities, supporting a broader range of sectors and increasing the capabilities of its automated AI-powered software factory.
In 18 months since its inception, Cogna has grown to a team of 40 and is working with clients, including Cadent Gas and Network Plus.
Kevin Fowlie, CEO of Network Plus, says, “Our partnership with Cogna has revolutionised how we have started to manage customer interactions. Unlike off-the-shelf software solutions that require us to adapt our processes, Cogna has given us custom solutions that fit our exact needs, driving immediate value and efficiency. Their ability to quickly iterate and adapt solutions cost efficiently means we can continuously improve and innovate at pace to meet our clients and customers’ needs.”
Cogna: Automating the IT consultancy
Founded by Ben Peters and Lars Mennen, Cogna uses AI to automate the IT consultancy process to identify and overcome specific productivity challenges within large, traditional enterprises.
Ben Peters, Co-founder and CEO of Cogna, says, “Traditional industries have been left behind by the digital revolution due to the complexity of their operational challenges. Cogna’s mission is to empower these sectors with precision software technology that addresses every unique company pain point on its terms, enabling immediate productivity gains. This funding allows us to bring our technology to more industries and help organisations reduce bottlenecks and free their expert teams from arduous manual tasks, unlocking their vast untapped potential.”
The London company’s AI platform targets important industries that make up over 70 per cent of the economy, like utilities, manufacturing, energy, and the public sector.
It helps non-technical teams identify their specific challenges and creates custom software solutions quickly and cost-effectively, with no programming skills needed.
This approach allows companies to overcome outdated systems, improve processes, and automate important tasks. It also boosts productivity in areas such as procurement, operations, and asset management.
The investor
Notion Capital is a European B2B SaaS and Cloud VC with more than $1B in assets under management and with more than 100 investments to date.
The Notion team founded, built, and exited two highly successful SaaS businesses – Star and MessageLabs – and invests exclusively in exceptional founders with the ambition to build global category leaders.
The Notion portfolio includes GoCardless, Mews, Paddle, Unbabel and YuLife.
Jos White, General Partner at Notion Capital, says, “Cogna is reimagining what’s possible for industries historically overlooked by the digital transformation revolution. The team’s precision approach offers not just great software, but solutions that align exactly with what each client needs to work more effectively. We’re thrilled to be backing the Cogna team for a second time as they revolutionise how organisations tackle their biggest productivity challenges affordably and quickly.”
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