Ascendx Cloud Funding News- London-based Ascendx Cloud Raises €97Mn In Funding

The investment comprises €53 million in equity and €44 million in debt financing, marking one of the largest growth-stage investments in the CRM space to date. The funding round was led by Osprey Investors and Columbia Lake Partners, with participation from angel investors including Charles Delingpole (Founder of ComplyAdvantage), Sujay Tyle (Founder of Merama), Chris North (former CEO of Shutterfly and Amazon UK), and Malte Janzarik (former Head of TPG Europe).

“AI is redefining the enterprise software stack and CRM is at the heart of that transformation,” said Ufuk Civilo, CEO and Co-founder of Ascendx Cloud. “With data complexity continually growing, legacy CRM systems are buckling under the pressure to increase the value and productivity for organisations and deliver solid intelligence. This investment is a pivotal milestone in enabling us to better support the world’s largest organisations with the most complex workflows to move faster, smarter and at scale.”

Ascendx Cloud is a London-based company that provides enterprise-grade CRM solutions. Founded in February 2023by Ufuk Civilo, James Lumb, and Bertan Ilbak, the company focuses on helping businesses unlock greater value from their CRM data through AI-driven applications.The company is also a member of the Pledge 1% movement, committing 1% of its company equity to support social and community-driven causes.

By 2026, 75% of CRM systems are expected to use AI features (Gartner, 2024). Ascendx Cloud’s apps help improve CRM and data processes, allowing companies to turn their CRM data into useful insights and find new growth opportunities.

Right now, over 500 large companies use Ascendx Cloud’s solutions, which enhance CRM data on platforms like Salesforce, ServiceNow, and Snowflake.

”We’re thrilled to continue to support the Ascendx Cloud team on their journey toward building the world’s leading portfolio of CRM SaaS applications,” said Thomas Weisman, Co-founder and Managing Partner at Osprey Investors. “We are particularly excited about Ascendx Cloud’s growth opportunities as customer use cases evolve towards more agentic and automated CRM interactions, where Ascendx Cloud has developed a strong product positioning.”

In 2024, Ascendx Cloud experienced a significant revenue growth of approximately 300%, underscoring the increasing demand for solutions that assist businesses in enhancing and automating their data across CRM platforms. To further strengthen its capabilities, the company recently acquired CapStorm, a U.S.-based application specializing in secure data control and management for Salesforce. This acquisition aims to expand Ascendx's artificial intelligence capabilities and provide businesses with greater control over their Salesforce data, enabling more efficient data management and automation.

“We’re at a critical inflection point in the evolution of CRM, where AI and automation are no longer optional, they’re essential. As enterprise demands evolve, CRM must do more than just manage relationships, it must anticipate them,” said Gavin Patterson, former President and CRO of Salesforce. “Ascendx Cloud has the vision, technology, and team to lead this transformation and this fundraise reflects both the urgency and the opportunity to reimagine CRM for the world’s most demanding enterprises.”

About Ascendx Cloud

Ascendx Cloud is a London-based technology company founded in February 2023 by Ufuk Civilo, James Lumb, and Bertan Ilbak. The company specializes in developing cloud-based software solutions aimed at helping businesses, especially those using Customer Relationship Management (CRM) platforms like Salesforce, to improve their operations and productivity.