Veridion raises $20 million in Series A funding

Veridion has secured $20 million in Series A funding to expand its AI-powered business intelligence platform. The funding round was led by Hoxton Ventures, with participation from Underline Ventures, OTB Ventures, Gapminder, Day One Capital, and Launchub.

The company utilizes billions of digital signals from various sources, including regulatory filings and public registries, to maintain a real-time view of more than 640 million companies globally. Veridion’s technology is designed to provide data significantly faster than traditional sources, serving sectors such as insurance, procurement, and supply chain operations. Its platform is currently used by over 100 organizations, including Experian.

Veridion plans to use the new capital to accelerate product development and expand its workforce by approximately 50%. A significant portion of the expansion will focus on the United States, where the company intends to double its headcount to support its growing American customer base, which already accounts for over 70% of its revenue.