Ascendx, a provider of enterprise-grade CRM SaaS solutions, announced it has raised $110 million. Osprey Investors and Columbia Lake Partners led the funding. This funding features $60 million in equity and $50 million in debt financing and marks one of the largest growth-stage investments in the CRM space to date.
The institutional investment round was led by Osprey Investors, and it also attracted a mix of intelligent 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.
What the funding will be used for: The funding will enable the company to scale its mission-critical solution portfolio of CRM apps and expand the team in the US to help more enterprise companies leverage their CRM data as they embrace AI.
Value proposition: With 75% of CRM solutions expected to integrate AI features by 2026, Ascendx’s apps enhance CRM and data workflows so companies can turn their CRM data into actionable insights and unlock new growth opportunities. Currently, 500+ enterprise customers, including Fortune 500 companies, depend on Ascendx Cloud’s industry-specific solutions that elevate data and experiences on CRM data platforms, such as Salesforce, ServiceNow, and Snowflake.
Last year, Ascendx grew its revenue about 300%, emphasizing the need for more solutions that help enterprises elevate and automate their data across CRM platforms. And recently, the company acquired US-based CapStorm, a Salesforce secure data control and management app, to expand its AI capabilities.
Executive team: Integrating deep expertise in growing and scaling tech companies and the CRM and data landscape, Ascendx was founded in August 2023 by Ufuk Civilo, formerly a tech investor at leading private equity firm TPG, James Lumb, the founder of Zenkraft, a Salesforce ecommerce management platform and Bertan Ilbak with PE experience at Mediterra Capital investing in buy and build SaaS businesses. And the board members include Gavin Patterson, former President and global CRO of Salesforce, and Pullen Daniel, co-founder of the Salesforce cloud banking platform, nCino.
KEY QUOTES:
“AI is redefining the enterprise software stack and CRM is at the heart of that transformation. 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.”
Ufuk Civilo, CEO and co-founder of Ascendx Cloud
”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. 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.”
Thomas Weisman, co-founder and Managing Partner at Osprey Investors
“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. 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.”
Gavin Patterson, former President and CRO of Salesforce
