We’re excited to congratulate our client Veridion on raising $20 million in Series A funding, a major milestone for a company building some genuinely ambitious technology in the company intelligence space.
The round was led by Hoxton Ventures, with participation from existing investors including Underline Ventures, OTB Ventures, Gapminder, Day One Capital and Launchub.
Founded in 2019 and headquartered in Bucharest, Veridion today has a team of 60+ people across Europe and North America and works with more than 100 organisations, with North America as its largest market.
The new funding will help Veridion accelerate product development, grow its team and continue its international expansion.
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Building a continuously updated view of the business world
What makes Veridion particularly interesting is the scale of the problem they are solving.
Traditional company databases can quickly become outdated. Businesses change products, locations, ownership structures, websites, markets and operations constantly, while most of the data used to make decisions about them is refreshed quarterly or annually at best.
Veridion is approaching the problem differently.
Its technology analyses billions of digital signals from company websites, public registries, regulatory filings, product catalogues, social profiles, news and other sources to create a continuously updated view of businesses around the world.
The result is what Veridion describes as a live business graph — a constantly evolving representation of 640+ million companies across 249 countries.
That intelligence is used across market intelligence, credit and risk assessment, third-party risk management, ESG, procurement and supply chain operations.
As Florin Tufan, Veridion’s co-founder and CEO, put it in the announcement: “If the business world is changing every day, why are companies still making billion-dollar decisions using data that’s months old?”
A well-deserved milestone
Fortis Agency has been supporting Veridion on SEO and content, working closely with Stefan Gergely, Head of Growth, and the wider team. That collaboration has given us a closer look at what they are building.
It’s an unusually ambitious data problem, backed by a very strong product and team.
As companies increasingly need fresher and more detailed information about the businesses, suppliers and markets around them, the value of continuously updated company intelligence is only becoming more apparent.
The $20 million Series A is a significant milestone in that journey.
Congratulations to Florin, Stefan and the entire Veridion team. Very well deserved — and we’re excited to see where they take it next.
