Veridion Raises $20M Series A to Build a Real-Time Map of 640M Businesses

Veridion, a global business intelligence startup, has raised $20 million in Series A funding to expand its AI-powered live business graph, which provides a continuously updated view of businesses around the world.

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, Veridion says its platform now covers more than 640 million businesses globally and delivers market intelligence up to 52 times faster than traditional business data sources.

Building a Live Map of the Business World

Traditional business intelligence often depends on databases that are updated quarterly or annually. Veridion is taking a different approach by continuously collecting and analyzing digital signals.

Its AI-powered business graph analyzes billions of signals from company websites, public registries, regulatory filings, product catalogs, social profiles and news sources.

The goal is to provide organizations with a more current picture of how businesses operate, including their products, relationships, locations and changing risk profiles.

Veridion says its coverage is more than 30 times larger than traditional sources while delivering intelligence significantly faster.

Designed for Risk, Procurement and Market Intelligence

The platform is being used across market intelligence, insurance, third-party risk, ESG, procurement and supply chain operations.

More than 100 organizations currently use Veridion's technology, including Experian and several leading U.S. institutions.

The companies using Veridion's data collectively represent almost $2 trillion in market capitalization.

Experian uses Veridion's data to improve visibility into private companies and incorporate additional signals into its risk models.

Real-Time Intelligence During Disruption

Veridion is positioning real-time business data as particularly valuable when companies face sudden disruptions.

The company says that during disruption around the Strait of Hormuz, organizations using its technology were able to identify businesses, suppliers, customers and commercial relationships potentially exposed to the crisis.

Instead of waiting for traditional market intelligence databases to be refreshed, the company says its customers could identify affected commercial relationships within hours.

U.S. Expansion Is a Major Focus

The latest funding will support product development and a significant expansion of Veridion's U.S. operations.

More than 70% of the company's revenue currently comes from U.S. customers, and Veridion plans to double its U.S. headcount over the coming months.

The company currently employs more than 60 people across North America and Europe.

Florin Tufan, co-founder and CEO of Veridion, said the new capital will allow the company to accelerate product development, expand its U.S. team and deepen relationships with American institutions that rely on its business data.

Moving Business Intelligence Toward Continuous Data

Veridion's broader proposition is that business intelligence needs to keep pace with how quickly companies and markets change.

Businesses can launch, shut down, relocate, change suppliers, introduce products or alter their risk profiles far faster than traditional databases are refreshed.

By combining AI with continuously collected digital signals, Veridion is building infrastructure designed to give organizations a more current view of the global business landscape.

With $20 million in new Series A funding and $85 million? No - the company has not disclosed total funding in the supplied article. The new capital will instead be directed toward product development, U.S. expansion and scaling Veridion's real-time business intelligence platform.