British startup Ascendx Cloud secures €97 million to help enterprise firms unlock the value of their CRM data

London-based Ascendx Cloud, a provider of enterprise-grade CRM SaaS solutions, has announced it has raised €97 million in funding, to scale its portfolio of CRM apps and expand the team in the US to help more enterprise companies leverage their CRM data as they embrace AI.

The fundraise comprises of €53 million equity and €44 million debt financing, reportedly marking one of the largest growth-stage investments in the CRM space to date. This funding round, led by Osprey Investors and Columbia Lake Partners, also attracted a mix of angel investors, including Charles Delingpole, Founder of ComplyAdvantage; Sujay Tyle, Founder of Merama; Chris North, former CEO of Shutterfly and Amazon UK; and Malte Janzarik, former Head of TPG Europe.

“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. “With data complexity continually growing, legacy CRM systems are buckling under the pressure to increase the value and productivity for organisations and deliver solid intelligence. This investment is a pivotal milestone in enabling us to better support the world’s largest organisations with the most complex workflows to move faster, smarter and at scale.”

Ascendx Cloud was founded in 2023 by Ufuk Civilo, formerly a tech investor at private equity firm TPG, James Lumb, the Founder of Zenkraft, a Salesforce ecommerce management platform, and Bertan Ilbak with long-term PE experience at Mediterra Capital investing in buy and build SaaS businesses.

Ascendx Cloud is a provider of enterprise-grade CRM solutions, helping businesses “unlock 10x the value from their CRM data“. Ascendx Cloud is also member of the Pledge 1% movement, committing 1% of company equity to support social and community-driven causes.

With 75% of CRM solutions expected to incorporate AI features by 2026 (Gartner, 2024), Ascendx Cloud’s apps enhance CRM and data workflows so that companies can potentially turn their CRM data into actionable insights and unlock new growth opportunities.

Currently over 500 enterprise customers, use Ascendx Cloud’s industry-specific solutions that elevate data and experiences on CRM data platforms, such as Salesforce, ServiceNow and Snowflake.

”We’re thrilled to continue to support the Ascendx Cloud team on their journey toward building the world’s leading portfolio of CRM SaaS applications,” said Thomas Weisman, Co-founder and Managing Partner at Osprey Investors. “We are particularly excited about Ascendx Cloud’s growth opportunities as customer use cases evolve towards more agentic and automated CRM interactions, where Ascendx Cloud has developed a strong product positioning.”

In 2024, Ascendx Cloud grew its revenue c.300%, higlighting the need for more solutions that help enterprises elevate and automate their data across CRM platforms. Most recently, the company acquired US-based CapStorm, a Salesforce secure data control and management app, to expand its AI capabilities.

“We’re at a critical inflection point in the evolution of CRM, where AI and automation are no longer optional, they’re essential. As enterprise demands evolve, CRM must do more than just manage relationships, it must anticipate them,” said Gavin Patterson, former President and CRO of Salesforce. “Ascendx Cloud has the vision, technology, and team to lead this transformation and this fundraise reflects both the urgency and the opportunity to reimagine CRM for the world’s most demanding enterprises.”

The post British startup Ascendx Cloud secures €97 million to help enterprise firms unlock the value of their CRM data appeared first on EU-Startups.