Cognaize Named to the 2023 CB Insights’ Fintech 100 List
by Cognaize on Oct 3, 2023 9:21:26 AM
Cognaize recognized for achievements in AI and hybrid intelligence for transforming decision making for financial services organizations
NEW YORK, October 3, 2023 -- CB Insights today named Cognaize, the intelligent document processing (IDP) company powered by its proprietary hybrid intelligence technology, to its sixth-annual Fintech 100 ranking (previously the Fintech 250) - showcasing the 100 most promising private fintech companies of 2023.
“Representing 24 different countries across the globe, this year’s Fintech 100 is shaping the future of real-time payments, spend management automation, embedded finance, and more,” said Chris Bendtsen, Lead Fintech Analyst, CB Insights. Together, they are not only increasing the pace of innovation, but launching new products and features to revolutionize the industry as a whole. I cannot wait to see what this cohort accomplishes next.”
“It is an honor for Cognaize to be selected as one the of 100 most promising private fintech companies in the world by CB Insights as it is further validation of the enormous value we are providing to financial organizations with our AI-powered IDP solutions,” said Al Eisaian, CEO, Cognaize. “Together with our founder Vahe Andonians and the entire Cognaize team, we will continue to push the barriers of AI innovation while ensuring we put human and machine collaboration at the center of all of our work - what we call hybrid intelligence - in order to capitalize on the promise of AI for all financial services organizations.”
Utilizing the CB Insights platform, the research team selected these 100 winners from a pool of over 19,000 private companies, including applicants and nominees. They were chosen based on factors including - including equity funding, investor profiles, business relationships, R&D activity, news sentiment analysis, competitive landscape, proprietary Mosaic scores, and Yardstiq transcripts - and criteria such as tech novelty and market potential. The research team also reviewed thousands of Analyst Briefings submitted by applicants.
Cognaize has developed a breakthrough approach - hybrid intelligence - to deliver on the promise of AI for financial services. The company’s hybrid intelligence AI platform combines proprietary deep-learning AI technologies; hyper-focused financial models trained on over 1.3 million financial documents such as loan applications, SEC filings, ESG-related documents, presentations, or trustee reports; and a unique user interface that enables the seamless engagement of human “experts in the loop” throughout the document automation process. Cognaize recently closed an $18 million Series A funding round led by Argonautic Ventures to further accelerate its growth and rapid pace of innovation.
Quick facts on the 2023 Fintech 100:
- Equity funding and deals: The Fintech 100 includes a mix of companies at different stages of maturity, product development, and funding. The cohort has raised nearly $22B in equity funding across 381 deals since 2019.
- Unicorns: There are 31 companies with $1B+ valuations on the list.
- Global Reach: This year’s winners represent 24 different countries across the globe. Forty-three percent of the selected companies are headquartered in the US. The UK comes in second with 12 winners, followed by Singapore with 7. Additionally, some emerging markets stand out with multiple winners this year. For example, India has 3 winners, while Indonesia and Egypt each have 2.
About CB Insights
CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
Cognaize is an AI-driven IDP solutions company powered by hybrid intelligence for financial services organizations to drive continuous improvement and make transformative decisions that result in an ever-better business. Powered by Cognaize’s sophisticated financial AI models, which have been trained on over 1.3 million documents, and each customer’s proprietary data, AI models, and financial experts, Cognaize is the first company to deliver a complete AI solution integrated into the daily operations of business and data science teams, bringing the promise of AI to financial services firms. For more information, please visit www.cognaize.com and follow us on Twitter and LinkedIn.