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iGenius raises €10 Million to further democratize data for business users using AI tecniques

Founded in 2016, the scale-up based in Milan, Italy is known for its augmented analytics platform Crystal

Companies Funding

iGenius has closed a €10M Series A+ funding round led by NovaCapital, with the participation of Blacksheep MadTech Fund. The new funding brings the total raised to €30M, and will be used to expand market reach and accelerate its sales and marketing efforts in Europe and USA.

Based in Milan, Italy and founded in 2016 by Uljan Sharka, iGenius has developed an advanced AI technology for business intelligence, which enables organizations to make better decisions by understanding and responding to changes in their data in real-time. iGenius’ complete enterprise-grade platform provides businesses with a SaaS decision intelligence solution that literally makes data talk.

More into detail, iGenius offers an AI platform with three core technologies. First, customers can index all their data sources by leveraging plug-and-play connectors via the low-code no-code capabilities of the platform. Second, customers and system integration partners can train the AI to serve specific augmented analytics use cases. Finally, the platform can be accessed through natural-language-based applications across mobile, desktop, and embedded end-user experiences. By introducing a conversational paradigm as the end-user interface of business data, iGenius aims to increase the adoption of analytics beyond the data-skilled, enabling access to 100% of the total addressable users.

We’re thrilled to partner with NovaCapital and Blacksheep MadTech Fund to continue on our mission to enable and empower companies with human-centric data intelligence products”, says Uljan Sharka, CEO of iGenius.

It’s exciting to hear first-hand how customers are realizing the benefits of iGenius’ AI platform. Data-driven decision-making has become critical in achieving increased operational performance and staying competitive in a fast-paced market. We are very happy to add iGenius to our portfolio. In iGenius we have found a brilliant entrepreneur and a great team who are responsible for a breakthrough in innovation. It’s going to be an exciting ride”, adds Carlo Germano Ravina, Managing Director at NovaCapital.

Data can be a huge competitive advantage for companies and can be a source of growth if correctly activated within an organization. We believe iGenius has built a killer AI application that accelerates existing business intelligence investments and ROI by extending real-time contextual access to data insight to all users. We can’t wait to start working with the team and supporting their aggressive expansion plan”, says Giovanni Strocchi, Co-founder & Venture Partner at BlackSheep Fund.

The company claims that their AI platform is used by some of the world's largest organizations, including Fortune 500 companies, and is rapidly gaining traction in the market. iGenius is a Gartner-recognized Cool Vendor in AI Core Technologies and was mentioned in both the Market Guide for Augmented Analytics 2021 and the Hype Cycle for Natural Language Technologies 2022.

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Edoardo Bellocchi

His first contacts with tech and IT date back to the era of the never forgotten Commodore 64. After some 15 years as a tech user and sometimes enthusiast, he went on to pursue a career in the IT field, first as a journalist and then as a PR. In recent years, he prefers to be identified as a journalist covering the wider technology market, with an eye to innovation topics.

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