Funding

Cogna funding news – London-based Cogna Secures Over €14 Million in Series A Round Funding

Nov 11, 2024 | By Kailee Rainse

Cogna funding news - London-based Cogna Secures Over €14 Million in Series A Round Funding

Cogna, a provider of precision software solutions, has raised over €14 million in Series A funding to tackle productivity challenges in industries that are often overlooked by traditional software solutions.

SUMMARY

  • Cogna, a provider of precision software solutions, has raised over €14 million in Series A funding.
  • Cogna’s unique approach combines best software practices, deep customer insight, and AI-driven development to deliver custom software solutions quickly and affordably—typically in days, not months or years.

Led by Notion Capital, with support from Hoxton Ventures and Chalfen Ventures, the funding will help it to expand and enhance its AI-powered software solutions for industries where off-the-shelf software doesn't meet their needs. It has already become a trusted partner for major companies like Cadent Gas and Network Plus.

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Cogna Service uses

Their unique "service-as-a-software" approach uses AI to automate IT consultancy, allowing non-technical teams to solve productivity challenges without needing software development expertise.

Ben Peters, Co-founder and CEO of Cogna said, “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 own 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,”.

Funding Utilisation

The funding will help Cogna expand its platform into more industries, including utilities, manufacturing, energy, and the public sector, which together make up over 70% of the economy.

The platform helps companies overcome limitations of legacy systems, streamline operations, and improve productivity in areas like procurement, asset management, and operations.

Jos White, General Partner at Notion Capital, commented on the investment: “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.”

It's platform has already brought significant improvements to critical sectors. For example, Cadent Gas, the UK’s largest gas distribution network, uses it’s software to optimize everything from procurement to gas escape management, improving both efficiency and service.

Howard Forster, COO of Cadent Gas said, “As the UK’s largest gas distribution network, supplying gas to 11 million customers with 82,000 miles of pipe, having the right digital infrastructure in place is just as important as our physical infrastructure. Cogna gives us the ability to create precision software across a huge variety of business functions – from optimising procurement to bolstering our gas escape management system. It allows us to work smarter and faster, ultimately delivering a better, more efficient service to the consumer,”.

Kevin Fowlie, CEO of Network Plus said: “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.”

About Cogna

Cogna’s unique approach combines best software practices, deep customer insight, and AI-driven development to deliver custom software solutions quickly and affordably—typically in days, not months or years.

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