Cognitive Credit, a global leader in data and analytics software for corporate credit markets, announced today that it has closed its latest funding round in the second quarter of the year, a $10 million Series B raise led by ETFS Capital, with existing investor XTX Ventures also participating.
The company will use the funding round to expand into additional markets and continue enhancing its product offering. It will invest in algorithmic debt valuation and AI solutions for institutional investors.
Cognitive Credit’s clients include the world’s leading asset managers, hedge funds, and investment banks, including 100% of the top 10 global high-yield league table banks. And this Series B funding round brings the total capital raised by Cognitive Credit to $25 million. Since its Series A capital raise in late 2021, the company has quadrupled its client base, doubled its internal team size, and increased ARR by over 7 times.
This growth has been driven by the ongoing digitalization of corporate credit. At $10+ trillion, corporate credit has been one of the world’s largest investment markets, yet historically credit analysis has been a specialist domain overlooked by the major financial technology providers. And with investment firms seeking greater operational efficiencies and competitive edge via technological innovation, and systematic trading strategies taking hold in the space, there has been a surge in demand for timely and accurate structured data in the credit industry in recent years.
KEY QUOTES:
“With the digital evolution of credit now inevitable, we are pleased to have ETFS join our team given their deep experience in capital markets innovation. Building the best-in-class dataset for one of the world’s largest asset classes remains an ambitious task, and we are excited about the opportunities ahead of us.”
- Robert Slater, CEO and Founder of Cognitive Credit
“As global credit markets expand and increasingly transition to electronic trading, data and automation plays a crucial role for investors. Cognitive Credit’s software has best-in-class proprietary data collection capabilities and presents this data in a web-based application which boasts an exceptional suite of functionality. This positions Cognitive Credit as an essential tool for credit investors. The Company’s impressive growth to date underscores its potential, especially as it broadens its reach into additional fixed-income sub-categories and further enhances its platform’s capabilities and product offering.”
- Martyn James, Managing Partner at ETFS Capital
