Cogna, a London-based provider of precision software solutions, has raised €14.2 million in a Series A funding round to address productivity challenges in traditionally underserved sectors. Led by Notion Capital, with participation from Hoxton Ventures and Chalfen Ventures, this investment will support Cogna’s expansion and further development of its custom AI-powered software solutions, designed for industries where traditional off-the-shelf solutions fall short.
Founded 18 months ago, Cogna has already established itself as a valuable partner for major organisations like Cadent Gas and Network Plus. The company’s approach, termed ‘service-as-a-software,’ leverages AI to automate the IT consultancy process. This enables non-technical teams to articulate specific productivity challenges and generate tailored solutions without requiring software development expertise.
“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,” said Ben Peters, Co-founder and CEO of Cogna.
The funding will enable Cogna to expand its platform capabilities, bringing its AI-driven solutions to a broader range of sectors, including utilities, manufacturing, energy, and the public sector, which collectively represent over 70% of the economy. The platform allows companies to overcome legacy system limitations, streamline operations, and enhance productivity in key areas such as 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.”
Cogna’s unique solution has attracted significant attention, particularly from critical sectors. Cadent Gas, the UK’s largest gas distribution network, has utilised Cogna’s platform to optimise various business functions, from procurement to gas escape management. “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,” said Howard Forster, COO of Cadent Gas.
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.”
With a team of 40, Cogna continues to grow, aiming to meet the needs of sectors often left behind by mainstream software solutions, using precision AI-driven technology to address specific operational challenges and drive measurable productivity gains.
Read the orginal article: https://www.eu-startups.com/2024/11/london-based-cogna-raises-over-e14-million-to-boost-productivity-with-ai-driven-precision-software/
