LONDON: Ascendx Cloud, a London-based provider of enterprise-grade customer relationship management (CRM) software-as-a-service (SaaS) solutions, has raised £82 million in funding to scale its suite of applications and expand its U.S. presence. The investment aims to help more enterprise companies harness their CRM data amid the growing adoption of artificial intelligence.
The funding round consists of £45 million in equity and £37 million in debt financing, marking one of the largest growth-stage investments in the CRM sector. Leading the round were Osprey Investors and Columbia Lake Partners, with participation from a group of angel investors.
“AI is redefining the enterprise software stack, and CRM is at the heart of that transformation,” said Ufuk Civilo, CEO and co-founder of Ascendx Cloud. “As data complexity increases, legacy CRM systems struggle to deliver value and productivity at scale. This investment is a pivotal step in enabling us to support the world’s largest organizations with sophisticated workflows.”
Ascendx Cloud specializes in enterprise-grade CRM solutions, aiming to help businesses unlock greater value from their CRM data. The company currently serves more than 500 enterprise customers, offering industry-specific solutions that enhance data management on platforms such as Salesforce, ServiceNow, and Snowflake.
The investment follows a strong 2024 for Ascendx Cloud, which reported approximately 300% revenue growth. The company also recently acquired U.S.-based Salesforce data control and management platform CapStorm, further bolstering its expansion strategy.
Thomas Weisman, co-founder and managing partner at Osprey Investors, expressed confidence in Ascendx Cloud’s trajectory. “We’re thrilled to continue supporting the Ascendx Cloud team as they build the world’s leading portfolio of CRM SaaS applications. We see tremendous growth potential as CRM interactions become more automated and agent-driven, and Ascendx Cloud is well-positioned for this evolution.”
With the fresh funding, Ascendx Cloud plans to accelerate innovation, refine its product offerings, and strengthen its foothold in global enterprise markets.