Cognigy Lands $44M Deal for Its AI Platform

Düsseldorf-based conversational artificial intelligence startup Cognigy successfully raised a total of €36 million (approximately $44 million) in its Series B investment round. According to Venture Beat, the recent funding round brings the company’s total amount raised to more than $50 million.

The Series B financing round was led by Insight Partners. Previous investors also took part in the said funding round, including DN Capital, Global Brain, Inventures, and Digital Innovation and Growth, as well as Nordic Makers.

Founded in 2016, Cognigy is a Germany-based enterprise artificial intelligence startup. It provides customers with a low-code conversational AI platform, otherwise known as text- and voice-based virtual agents, allowing customers to seamlessly and easily integrate more artificial intelligence technologies into their respective systems, reports Tech Crunch.

Cognigy Lands Deal for Its AI Platform

As of writing, Tech Crunch notes that Cognigy’s AI support system is capable of supporting 120 languages and can be used across a variety of applications. It can work not only with voice support services but also chatbots.

Venture Beat also notes that the platform also affords users the capacity to manage chatbots and make relevant experiences across different channels. It also allows users to retain the exchange of messages across varying platforms.

A Cognigy spokesperson reportedly told Venture Beat in an email that, “Cognigy [acts] as an intelligent AI-powered middleware that can engage with customers and employees on the one hand while being deeply integrated with enterprise systems and robotics on the other.”

“Our customers use this technology for a broad range of use cases, ranging from human resources virtual assistants to product recommendations and intelligence contact center [platforms]. The recurring pattern is end-to-end automation, with deep system integration; a conversational interface – regardless of the channel – is only truly useful if it can actually engage in a transaction,” continued the spokesperson.

The German startup counts global brands and companies such as Daimler, BioNTech, Bosch, Lufthansa, Mobily, and Vueling Airlines as some of its impressive list of clientele.

With its fresh funding in the Series B investment round, Cognigy plans to double down on growing its customer base. Moreover, the startup is also seeking to engage in new partnerships and boost the artificial intelligence capabilities and technologies employed by its platform.

Tech Crunch states that the company is targeting to permeate Asia and deeper into the United States and Europe. The news site reveals that currently, 25% of its business comes from consumers and partnerships in the United States.