Cognism, Shield and Arctic Shores Snap Up Funding

Expansion on the menu for a B2B sales intelligence provider, a workplace intelligence platform for compliance teams, and a behaviour-based assessments provider.

There’s a lot of intelligence on display with Cognism, Shield and Arctic Shores securing some tech funding.

Cognism, a B2B sales intelligence provider, has received $87.5 million (£64 million) in funding led by new investor Viking Global Investors.

Shield, a workplace intelligence platform for compliance teams, has closed a $15 million (£11 million) Series A funding round led by Macquarie Capital and OurCrowd with “significant” participation from Mindset Ventures.

Arctic Shores, a behaviour-based assessments provider in Manchester, has received £1.5 million in venture debt funding from Silicon Valley Bank (SVB).

Cognism Connected

London-based Cognism also welcomed new investor Blue Cloud Ventures and follow-on investors AXA Venture Partners, Swisscom Ventures and Volution. The capital will be used for expansion in Europe and the US. The company plans a combination of organic growth and acquisitions.

James Isilay, CEO of Cognism, comments: “Our goal is to enable companies to build a meaningful connection with their next best customer in the most predictable, efficient, and cost-effective way.”

In 2021, Cognism opened a US office in Boston, led by new VP Sales, Mark Bedard, previously of ZoomInfo, and appointed Phil Garlick to its board of directors.

The year saw the company launch Diamond Data, which provides GDPR & CCPA compliant phone-verified contacts for business development teams.

Cognism also formed a partnership with Bombora to provide intent data within the latest version of Cognism’s platform. This enables sales and marketing teams to identify the accounts that are actively in the market and ready to buy. FY2021 saw the company report 100% ARR growth.

The firm provides sales intelligence for revenue teams in over 1,000 companies worldwide. Its workforce currently includes over 250 employees based in seven countries including the UK, US, Canada, South Africa, Croatia, Macedonia and Germany.

Shield’s Safer State

Shield is based in Tel Aviv but has offices in London and Copenhagen.

The tech firm will use the funding to expand its US presence with a New York City office, while looking for action in Europe, the Middle East, Africa and the Asia Pacific. It also plans development of its communications compliance platform.

Shiran Weitzman, Co-Founder and CEO of Shield, says: “As a bootstrapped company, we’ve already proven that our AI platform is unquestionably valuable to banks and financial institutions. Now, with the help of our highly regarded investors, we’re ready to further build out our technology, expand our global sales and customer success teams, and enhance our already impressive ability to discover and manage compliance and risk concerns across electronic communications.”

Shield explains that it enables regulated financial institutions to detect market abuse and gain behavioural analysis. It applies AI and natural language processing capabilities to the communications lifecycle.

Arctic Shores Feels Sure 

Arctic Shores provides companies ways to measure candidates’ behaviour and natural strengths via its Talent Discovery Platform.

The funding follows a good year as its revenues grew by more than 50%. Arctic Shores joins Wise, HelloFresh and GoCardless as the latest tech-enabled organisations supported by SVB.

It plans to increase headcount by a further 20 people through 2022. The firm has 75 employees listed on LinkedIn at present.

Robert Newry, Arctic Shores CEO, states: “The global skills shortage shows that it’s never been more vital to hire for potential. But, for employers, that requires one big step – scrapping the CV. It might feel like a tough ask. But unless we free ourselves from irrelevant and outdated experience, we’ll never unleash the vast potential of the untapped many, who have the quality but lack the experience.”

SVB’s venture debt funding follows Arctic Shores’ September 2019 Series A, which was led by Beringea and Candy Ventures. Arctic Shores has some notable clients, such as the BBC, PwC, AXA, Siemens and Capita.

Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 17 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.

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