At a Glance
Cognigy, which provides a conversational AI platform for enterprises to integrate AI into their customer service processes, has raised $44 million in Series B investment. Conversational AI is widely in use today. Using the funds, Cognigy plans to scale its business, delve deeper into other markets.
Dusseldorf-based enterprise conversational AI platform, Cognigy, has raised $44 million in Series B funding led by Insight Partners, as per reports.
According to Philipp Heltewig, founder and CEO of Cognigy, the proceeds will be used to scale its business, invest in building its services deeper into the US, Asia, and Europe. Other investors – DN Capital, Global Brain, Nordic Makers, Inventures, and Digital Innovation and Growth – had participated in the funding.
Founded in 2016, Cognigy provides a low-code flexible conversational AI platform that can be used across numerous applications (external and internal service). It comes with many different features and services, such as support voice services, chatbots, real-time assistance for human agents, and usage analytics for fully automated responses. To sum up, Cognigy builds a set of low-code tools to help enterprises integrate AI into their customer service processes.
Conversational AI can be anything from chatbots that pop up on websites or the startup Convin’s platform, which helps salespersons do their jobs better. They can also include the personal assistants on a company’s HR application or even a personal phone.
One other point to be noted here is about Cognigy’s low-code and no-code tools, making the integration of AI into their processes by enterprises relatively easy.
The low-code platform helps enterprises adopt what is otherwise complex technology in an easy and flexible way, whether it is a customer or employee contact centerPhilipp Heltewig, founder and CEO of Cognigy
Teddie Wardi, MD at Insight Partners, who will now join the Cognigy board, expressed delight at the investment and lauded Cognigy for scaling their venture.
Evident by their strong customer retention, Cognigy has created an essential product for global businesses to improve their customer experience in an efficient and effortless manner. With the new funding, Cognigy will be able to expand its leadership position to reach new markets and acquire more customersTeddie Wardi, MD at Insight Partners