UK-based sales lead generation software developer Cognism has extended its series B round to $22m with a $12m tranche led by Axa Venture Partners, the corporate venturing arm of insurance provider Axa.
Growth equity firm Peakspan Capital led the round’s $10m first close in July 2019 and any other participants have not been disclosed.
Founded in 2015, Cognism offers a software platform that helps busineses identify sales leads using artificial intelligence-driven data analytics. It is billed as meeting European Union laws which govern how companies can use personal data, known as GDPR.
The cash will fund the launch of new offices as the company looks to expand in Europe. It also runs offices in Asia and the US and is devoting a share of the series B proceeds to expanding expertise in specific national legal systems.
Cognism collected $3.6m in a January 2019 round that featured consulting firm Oliver Wyman, state-backed investment vehicle London Co-Investment Fund, South Central Ventures, Newable and undisclosed additional investors.
LCIF and Newable previously combined in a $2.8m round for the company in early 2018 according to BusinessCloud, after a $500,000 seed round in backed by South Central Ventures, Tsingbay Venture Capital and angel investors Tom James and James Hodson in 2017.