Founded in 2016 in Düsseldorf, Germany, Cognigy is a global leader in omnichannel customer and employee service automation with its conversational AI platform Cognigy.AI. The latter one is strongly focused on Contact Center Automation, combining advanced natural language understanding (NLU) with strong low-code automation and integration capabilities, enabling the automation of conversation on both phone- and chat-channels.
Any user can build cognitive bots without extensive coding experience and equips business users, conversation designers, data scientists and developers with an intuitive visual interface that makes designing and deploying multilingual virtual agents of varying complexity a breeze.
Cognigy.AI is the platform of choice for many global enterprises to automate business processes ranging from customer service over HR and ITSM automation to outbound call scenarios. Its customer list includes Lufthansa, Mobily, BioNTech, Vueling Airlines, Bosch and Daimler, with “thousands” of virtual assistants now powered by Cognigy live in the market.
As of 2021, Cognigy’s customers have built and deployed thousands of virtual agents in more than 120 languages, leading to significant cost savings and increased customer satisfaction by lowering average handling and wait times and delivering answers quicker, wherever and whenever customers and employees need them.
The company secured $44 million in Series B funding led by the global venture capital and private equity firm, Insight Partners, and joined by existing investors DN Capital, Global Brain, Nordic Makers, Inventures and Digital Innovation and Growth. With 25% of the company’s business already coming from the U.S., the investment will enable Cognigy to expand its global footprint becoming the platform of choice for accelerating enterprise-grade AI adoption worldwide.
Philipp Heltewig, CEO and Co-Founder of Cognigy, said: “The past four years have seen us emerge as a leader in the Enterprise Conversational AI space and we are extremely happy to be partnering with Insight Partners for the next phase of our journey. This investment will enable us to significantly expand our operations in North America, Europe and Asia, whilst maintaining our clear product leadership position and building on our strong industry partnerships.”
Guy Ward Thomas, Investor at DN Capital, Board Director at Cognigy, said: “This investment round confirms Cognigy’s status as the leading global platform for enterprise conversational automation, and will enable the company to scale new heights in product leadership.”