Nexus Cognitive Announces Investment from Insight Partners to Accelerate Growth of Its Innovative NexusOne Data Solution
ATLANTA, June 4, 2024 /PRNewswire/ — Nexus Cognitive, a leading innovator in enterprise Data & AI foundations, announced the successful closure of an investment from global technology investor Insight Partners. This investment underscores Nexus Cognitive’s emergence as a transformative force in the realm of enterprise data platforms.
The new funding comes on the back of Cloudera’s announcement that Nexus Cognitive was awarded 2024 Emerging Partner of the Year. Nexus Cognitive will use the funding to accelerate channel partnerships and continue to develop the offering and out-of-the-box IP to provide more transformative outcomes driving business value.
“Anu and his team have built a robust offering that fulfills complex needs in the evolving and increasingly important Data & AI space,” said Insight Partners Vice President Richard Matus, who will join Nexus Cognitive’s board. “We were attracted to their ‘Do It For Me’ platform-agnostic approach that supports customers with a turnkey solution for operations and maintenance of a modern data stack-as-a-service, freeing up valuable resources and removing the need to recruit in-demand data engineers, architects, data scientists and other technical talent.”
Nexus Cognitive’s primary offering, NexusOne, is a managed data-as-a-service platform that can work with any cloud and existing leading data platform, including Cloudera, AWS, Azure, Databricks, Snowflake, and open-source components in a holistic model. NexusOne leverages a universal control plane to manage all resources required to increase revenue, reduce cost, and manage risk and compliance efficiently. The platform runs the data and AI foundation, driving use cases like dynamic pricing, new business line expansion, credit risk management, and supply chain cost reduction.
“Whether you are immature with data, looking to migrate to the cloud, or already cloud-savvy, the NexusOne platform can get you online in weeks, not months, to solve the data-driven needs of your business,” said Anu Jain, founder and CEO of Nexus Cognitive. “We heard from customers that the hourly rate card approach of services firms led to unpredictable expense and frustrating cost over-runs, and we use a combination of software and services to deliver a purpose-built solution at a predictable price.”
Nexus Cognitive supports needs across industries ranging from financial services, government, retail, and manufacturing. The Small Business Financial Exchange (SBFE), a trade association of over 135 US lenders, trusts the NexusOne platform to store its members’ credit payment performance data and to transmit the data to credit reporting agencies for loan underwriting and risk management purposes.
“NexusOne has been instrumental in revolutionizing the way we manage our data,” said Elisabeth MacDonald, CEO of SBFE. “The platform’s streamlined workflows and analytics capabilities empower our teams to make data-driven decisions faster than ever before.”
As part of the transaction, Narendra Mulani will join the company’s board of directors. Narendra previously built and led the Accenture AI & Analytics business, developing the Accenture AI Platform (AIP) that integrated out-of-the-box software assets into a managed services architecture. Jean-Luc Chatelain, former Global Chief Technology Officer of AI at Accenture, has been retained by the company as an advisor.
For more information about Nexus Cognitive and its innovative solutions, visit www.nexuscognitive.com
About Nexus Cognitive:
We are innovators in the world of data and analytics, dedicated to unlocking the full potential of your data. NexusOne is our tech-enabled managed service for big data infrastructure that combines cutting-edge technology with deep industry expertise to deliver comprehensive, tailored solutions. Our mission is to enable your business to harness the power of big data, transforming complex data sets into actionable insights that disrupt your industry and deliver a competitive advantage. We handle the heavy lifting of big data management and governance so you can focus on making informed, strategic decisions that drive growth and innovation.
About Insight Partners:
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.
SOURCE Nexus Cognitive
