Osborne Clarke has advised DTCP on its investment in the AI customer service start-up Cognigy as part of a Series C financing round totalling USD 100 million.
The Düsseldorf-based start-up Cognigy, founded in 2016 by Philipp Heltewig, Sascha Poggemann and Benjamin Mayr, offers a service based on Artificial Intelligence (AI) to manage customer enquiries. The AI platform enables companies to develop and operate AI agents for their customer service and analyse their performance. Major brands such as the Lufthansa Group, Toyota, Mercedes Benz and Bosch use Cognigy to offer their customers personalised and cross-channel support.
The start-up has now successfully closed its Series C financing round totalling USD 100 million. The round was led by Eurazeo, and in addition to DTCP, the other existing investors Insight Partners and DN Capital have also re-invested. Cognigy plans to invest the new funds in global expansion and the further development of its technologies.
“The potential for automation is immense, especially in customer service. Across industries, mega brands worldwide are increasingly recognising their need for scalable solutions for efficient and personalised customer interactions. Cognigy offers them exactly that: our AI agents can solve numerous standard enquiries automatically and simultaneously while significantly improving customer satisfaction and loyalty through performance and round-the-clock availability. This financing round will enable us to take full advantage of this market momentum and expand our global footprint while further optimising our platform,” said Philipp Heltewig, Co-Founder and CEO of Cognigy.
The Osborne Clarke team advising DTCP consisted of Nicolas Gabrysch (lead) and Benedikt Hülsmann (both Corporate / VC).
In-house, Dr Stefan Graiche (Head of Legal, Compliance and Regulation) advised on the transaction.
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