In what is being touted as the largest European AI deal yet, Cognigy has been acquired by NiCE for a reported $955 million.
Cognigy is an agentic AI platform for customer service. NiCE also offers AI-powered customer experience solutions.
Venture investors are expected to receive a significant payout. The announcement states that DN Capital led Cognigy’s Series A in 2019 and participated in subsequent Series B and Series C. DN Capital was joined by other investors, including Auto1, Remitly, Shazam, and Endeca.
Founded in Germany, Cognigy reports over 1000 customers, including firms like Mercedes Benz, Nestle, DHL, and others.
Nenad Marovac, Managing Partner at DN Capital, said this was a fantastic outcome for Cognigy, for DN Capital, and the wider DACH and European tech ecosystem.
“It’s also testament to the next generation of DN Capital leadership stepping up and delivering outlier outcomes for our LPs.”
As European venture funding in AI hit record levels last year, this exit is said to demonstrate that capital is beginning to yield meaningful returns for investors.