Cognigy, a leader in AI-first customer service automation, announced that it has raised $100 million in Series C funding. The round was led by Eurazeo Growth, with participation from existing investors Insight Partners, DTCP, DN Capital, and others. The new funding round will accelerate Cognigy’s mission to deliver AI-first customer service at scale.
Cognigy offers a market-leading enterprise-grade AI platform to build, operate and analyze the advanced AI Agent workforce that many major brands, including Lufthansa Group, Virgin Pulse, Frontier Airlines, Bosch, Toyota, TechStyle Fashion Group, and Mercedes-Benz, depend on to deliver exceptional customer service. Over 1,000 brands worldwide depend on Cognigy’s AI platform with millions of transactions processed per day in production.
Cognigy’s AI-first approach utilizes Conversational and Generative AI to deliver pre-trained AI Agents that resolve high-volume customer requests at scale. And this enables enterprise customer service leaders to focus their scarce human agents on high-value conversations. Along with serving end customers, the same AI Agents switch roles to act as Agent Copilots, providing instant and contextual assistance to human agents and automating routine tasks such as call wrap-up.
This funding round follows years of triple-digit growth for Cognigy, driven by an increase in market demand across all industries. In the last year, Cognigy has seen explosive growth in the use of its platform, with hundreds of millions of interactions handled on the platform.
Along with fuelling Cognigy’s global expansion, the new funding round will be directed toward enhancing Cognigy’s research and development efforts in Conversational AI with Generative AI, enabling the creation of more sophisticated and intuitive customer service solutions, and the acceleration of AI-first technologies that deliver concrete ROI.
KEY QUOTES:
“Delightful customer service is a top priority for enterprises and is one of the pain points pervading every industry that technology has not been able to solve successfully to date. Cognigy’s enterprise-grade orchestration layer for AI Agents works alongside human agents to deliver a highly effective, personalized service on any channel.”
- Raluca Ragab, Managing Director, Head of UK and DACH of Eurazeo Growth
“We spoke to a large number of Cognigy’s customers as part of our research and, without exception, they all would recommend Cognigy because the platform enables them to reach a very high level of automation (70%+) across millions of conversations with no latency, which is very complex to do. We are proud to support Cognigy’s global growth and mission to revolutionize conversation automation for the enterprise. This investment aligns perfectly with our Eurazeo Growth strategy of supporting European AI champions and scaling them up to become global category leaders.”
- Romain Mombert, Director of Eurazeo Growth
“The market opportunity for AI-first customer service is immense. Enterprises across all industries are recognizing the critical need for efficient, scalable, and personalized customer interactions. Our platform delivers and manages AI Agents that revolutionize the customer service landscape, providing businesses with the tools to exceed customer expectations and drive loyalty. This funding will enable us to seize this opportunity, expand our global footprint, and continue to innovate our platform to meet the evolving needs of our clients.”
- Philipp Heltewig, Co-founder and CEO of Cognigy
“We continue to see tremendous potential in Cognigy’s AI-first approach to customer service. The company’s innovative technology and strong leadership team position Cognigy as a market leader in enterprise customer service automation, as evidenced by top rankings in Gartner and Forrester’s Conversational AI reports. We are excited to continue our support of Cognigy’s vision and growth.”
- Teddie Wardi, Managing Director at Insight Partners
“AI-first customer service is the future for every large enterprise. Cognigy’s AI Agents deliver instant and personalized service at scale, which has been critical to our operations and is helping millions of our customers every year. We congratulate Cognigy on their funding and look forward to further innovation.”
- Nick Allgaier, Product Manager “Digital Assistants” Lufthansa Group
“Through the use of state-of-the-art AI technology that we have obtained with Cognigy, it is now possible for airports to elevate their communication and interaction with passengers to a new level.”
- Alexander Lacker, Product Manager Terminal Processes & Passengers at Munich Airport
“AI-based Phone and Chatbots can help companies elevate customer service to the next level. Cognigy’s groundbreaking combination of Generative and Conversational AI empowers companies such as ERGO to develop and implement multiple Next-Gen AI Agents for customer service across voice and chat channels, while being flexible, scalable, and compliant.”
- Hanbing Ma, Head of Innovation & Digital Transformation at ERGO
“We are on a mission to redefine the standards of customer service by leveraging the transformative power of Conversational AI and GenAI. Our collaboration with Cognigy is a testament to our commitment to pioneering solutions that are at the forefront of technology and meet our members’ needs. The integration of Cognigy’s technology into our service framework is a game-changer, setting a new benchmark for excellence in the industry.”
- Jack Roberts, Director of GMS Technology & Applications at TechStyleOS
“Toyota vehicle owners embraced Contact Center AI already before the hype. Why? Because it works. With Cognigy’s AI Agents, we stay ahead and provide real value to customers and car dealerships.”
- Peter-Pascal Meik, Manager Innovation & Projects at Toyota
“With Cognigy’s AI Agents, we help our valued consumers and at the same time are building direct relationships and enhancing our brand experience. Cognigy.AI is flexible enough to cover various use cases while providing a common framework for global scaling and governance.”
- Christian Hohmann, Head of New Technologies (AI) & IT-Management at Henkel
