Cogna, a UK-based artificial intelligence startup, has raised $15 million in Series A funding to transform how companies develop and implement enterprise software. The funding round, led by Notion Capital with contributions from Hoxton Ventures and Chalfen Ventures, highlights growing investor interest in AI solutions for Enterprise Resource Planning (ERP) software - a domain traditionally marked by high costs and complex implementation. Cogna aims to automate ERP development through AI, making customized software accessible and adaptable for a broad range of industries.
Founded by Ben Peters, previously of autonomous vehicle startup FiveAI, Cogna focuses on using AI to address the challenges of ERP software. ERP systems manage crucial business functions like finance, inventory, and HR, but they can be costly and time-consuming to deploy and maintain. Cogna’s AI-driven approach seeks to offer an alternative by autonomously generating ERP applications that meet specific client needs, reducing the need for extensive IT support and long development cycles. Peters said the company's goal is to "create software that can be tailored through natural language input, giving businesses a SaaS experience without the usual complexities."
Cogna’s platform has already garnered interest from high-profile clients in the UK’s infrastructure sector, including Cadent Gas and Network Plus. These clients view Cogna not merely as an ERP vendor but as a partner that provides customized solutions tailored through AI. At the core of Cogna’s technology is its "Natural Language Compiler," a feature that combines multiple large language models (LLMs) from OpenAI and Anthropic. This compiler interprets user requests in natural language, allowing non-technical staff to describe their needs directly to the AI, which then generates the necessary software code.
Cogna’s autonomous ERP model has the potential to disrupt traditional ERP providers and IT consultancies that rely on extensive, manual software customization. By positioning itself as a faster, more flexible solution, Cogna could make significant inroads into a market dominated by companies like SAP, Oracle, and major consultancy firms such as CapGemini and Wipro. According to Hussein Kanji, co-founder of Hoxton Ventures, “Cogna’s platform is a testament to how AI can radically reshape enterprise software by simplifying and accelerating the development process.”
With this fresh round of funding, Cogna plans to enhance its AI platform further, allowing it to serve a wider range of industries while continuously refining its LLMs for task-specific applications. This move aligns with the broader trend of AI adoption in enterprise software, as more companies seek efficient, customizable solutions that reduce reliance on traditional, costly IT services. Peters and his team are poised to make Cogna a pioneer in AI-powered ERP, potentially setting a new industry standard for how enterprise software is developed and delivered.
