Cognito iQ, whose products enable field service organisations to optimise their operations and systemically drive performance improvement, has raised new multi-million equity funding from its existing shareholders to sustain its rapid growth.Since the release of its revolutionary Operational Performance Management product suite in 2014, Cognito iQ has signed more than 20 new customers in the UK alone, far outstripping all its competitors and setting the course for doubling its deployed subscriber base in 2016.
To sustain this exemplary growth, Cognito iQ’s existing shareholders have approved an ambitious business development plan that capitalises on the company’s unique product and market position. Proceeds of the funding will go towards expanding the applicability of its ground-breaking solutions across industry verticals and also towards business development.
L to R: J. Melotte, G. Chalk, K. Bayliss, L. Othacéhé, D. Webb, J. Pocock, C. Rolfe.
Laurent Othacéhé, Cognito iQ’s CEO, commented:
“Having taken the market by storm over the last 18 months, we are delighted that our shareholders enthusiastically support our ambitious growth plans. Operational Performance Management (OPM) is the next revolution in the Mobile Workforce Management industry, with potentially an even greater impact than Mobile Applications and Real-Time Scheduling had over the last 10 years. And when it comes to OPM, Cognito iQ has written the book!"
Kane Bayliss, Partner at Graphite Capital, added:
“Cognito iQ’s recent string of successes confirms our view that there is huge growth potential in the Mobile Workforce Management space for a vendor with the right visionary approach. We are very excited to back the company's experienced management team to develop this unique opportunity."
About Cognito iQ
Established for more than 20 years, Cognito iQ is the UK’s leading provider of Cloud-based Mobile Workforce Management solutions, helping clients such as Argos, Hermes, Konica Minolta, Transport for London and Stanley Security drive field force performance and exceed customer service expectations.
Our flagship strategic service platform, Cognito iQ, enables organisations to optimise their service operations and systemically drive continual performance improvement. Our approach is based on the understanding that the next wave of service improvement will come from fully engaging the workforce in the journey towards achieving operational excellence.