Cognigy Increases Series B Funding to $59M with new investor DTCP
DTCP joins Series B round with $15 million investment earmarked to further accelerate Cognigy’s global growth by expanding its customer base and entering new markets worldwide
Dusseldorf / San Francisco / Sydney / London – February 17, 2022 – Cognigy, global leader in omnichannel customer service automation, has closed an additional $15 million funding round with DTCP. This brings the total Series B funding for the company to $59 million. Capitalizing on hypergrowth and a strong demand for its technology and services, Cognigy will leverage the investment to cement its position as a leader in the $6.8 billion global conversational AI market and enhance its platform capabilities to speed the adoption of conversational AI platforms for enterprises worldwide.
"Closing the extended round with DTCP’s investment is another big step forward as we expand operations in Europe, North America and the Asia Pacific region and support a growing network of partners and strategic alliances. Their extensive digital connectivity expertise and strong global network complement our market-leading technology and expanding global footprint to bring the transformational power of conversational AI to customer service," said Philipp Heltewig, CEO and Co-Founder at Cognigy.
With Cognigy.AI, Cognigy has developed a powerful conversational AI platform for building voice and chatbots for customer service and employee communication automation. The low code platform enables all users from experts to users with no technical background to create human-like virtual agents and to offer them in over 100 languages.
“We are happy to lead Cognigy's Series B extension round and to support the team on its mission,” said DTCP Partner Thomas Preuß. “The powerful conversational AI platform, which makes intelligent and virtual assistants more accessible to customers and employees, is a must-have product for businesses worldwide. Cognigy is a global technology leader and will enable a mass adoption of AI powered bots through its easy deployment, fast time to value, deep integrations, numerous ROI-heavy use-cases and a robust no-code usability. We are convinced that Cognigy can further extend its leadership position in the market and look forward to supporting the company in the next phase of growth as an investor.”
DTCP is an investment management platform focused on growth equity and digital infrastructure. Founded in 2015, the firm has raised more than $1 billion in funds from corporate and institutional investors and invested in over 60 companies. DTCP Growth invests in leading enterprise application and infrastructure software companies. The firm has a dedicated team supporting its portfolio companies and its industrial partners. DTCP Growth is headquartered in Hamburg with offices in Menlo Park, Tel Aviv, and Seoul. To learn more about DTCP, please visit dtcp.capital.
Cognigy is a global leader in omnichannel Customer Service Automation. Intelligent voice and chatbots powered by its Conversational AI platform help businesses improve service quality, reduce operational costs, and support teams across the enterprise. Cognigy’s award-winning AI understands user intents precisely and enables natural dialogs in over 100 languages. Easily scalable and pluggable, its low-code platform automates business processes through integrations into backend systems, operates as SaaS and on-premise, and is GDPR compliant. Cognigy’s worldwide client portfolio includes BioNTech, Bosch, Fidelity Life, Lufthansa Group and 500+ other brands. Learn more at cognigy.com.