Cosmo Tech, a market leader in AI Simulation software for enterprise decision-making, announced a majority investment from global software investor Insight Partners, with participation from former Accenture executives Phillip Hazen and Gerry Coulter. As part of the deal, Hazen and Coulter will be appointed as Cosmo Tech’s CEO and CFO, respectively. And Cosmo Tech helps large organizations navigate complexity and uncertainty in enterprise decisioning.
The company’s AI simulation software enables critical decision-making by providing a glimpse into the future. It evaluates millions of potential scenarios to identify the optimal path, helping enhance financial performance and organizational resilience. Cosmo Tech is used by large enterprises to solve supply chain resiliency challenges and save millions in logistics expenses. This adaptable solution can be applied to critical dynamic decisions in the supply chain, finance, forecasting, and beyond.
Cosmo Tech co-founder Michel Morvan will continue to spearhead innovation and product vision as Chief Innovation and Technology Officer and Hugues de Bantel will lead the EMEA organization as President of Cosmo Tech EMEA.
Following this funding, Cosmo Tech will establish a new office in the DC metro area — an innovation hub and key access point to major clients and ecosystems — which is anticipated to open early next year. Along with the existing European commercial and product resources, this new base will support the company’s North American operations and facilitate closer collaboration with the partner ecosystem and key customers in the manufacturing, transportation, and energy sectors.
KEY QUOTES:
“We are thrilled by Insight Partners’ investment and their commitment to advancing AI globally, as they are well positioned to drive Cosmo Tech into its next growth phase. Having Phil and Gerry join our management team is especially exciting, given our strong history of collaboration during their time at Accenture.”
– Cosmo Tech Co-founders Hugues De Bantel and Michel Morvan
“Having worked with Cosmo Tech as a strategic partner while at Accenture, joining the company feels like a natural fit with my passion for transforming enterprises with innovative technology. With an industry-leading team, standard-setting AI technology solving real business challenges, a world-class lead investor and numerous strategic partnerships with Tier 1 Global Professional Services and Enterprise Software vendors, we will be poised to bring Cosmo Tech to customers worldwide at scale to deliver measurable business results.”
— Of his appointment to CEO, Phillip Hazen
“By combining Insight’s financial backing with the collective experience of the new expanded management team, Cosmo Tech is solidifying their position as a market leader. The company’s AI simulation technology and optimization capabilities will further empower enterprises to drive more effective decision-making and higher levels of value. We look forward to partnering with Hugues, Michel, Phil, and Gerry on this exciting next chapter for Cosmo Tech.”
– Richard Matus, Vice President at Insight Partners
