Accelerace invests in Cognifirm, a personal intelligent process assistant
Cognifirm is a process robot installed in employees’ browsers to automate internal processes in a company, and one of the newest family members in Accelerace’s investment portfolio.
Imagine that someone steps into your office to inform you that you will never have to perform repetitive, boring data entry tasks, which currently cannot be automated with standard systems, ever again.
That is Cognifirm. The startup’s browser automation robot and tool that aggregates information from different sources help you perform the tasks that you would normally do manually. Unlike the competition, Cognifirm solves an integration issue by enabling systems to talk and with that, automating tasks and processes:
“Normally, you would have APIs that connect different tools together, but they don’t share the same data in an ideal way for the customer. Because of this, companies have people who sit and put in manual data from emails, the finance system, Shopify and so on. So, they have a lot of processes, because the system doesn’t take care of the whole picture. What we’re doing differently is that we integrate a browser plugin. So, you don’t need the APIs (..) we can put in the data where you need it and save the data you need as well. Nobody else is doing this.“ (Per Damgaard Husted, Co-founder of Cognifirm)
Founded in 2020 by Per Damgaard Husted, Ramesh Packirisamy and Per Tversted, the idea for Cognifirm is a result of brainstorming sessions for Per Damgaard Husted’s business book “AI for CEOs” on how to use artificial intelligence (AI). When explaining how to use AI for different purposes, automating companies’ internal processes was one of the examples he came up with. He had problems killing the idea, and the rest is history. The founding team joined the Beyond Beta accelerator program in October 2020, and Accelerace is confident in the team’s competencies and ability to scale in a very interesting market space:
“With Cognifirm and the experienced team behind, we see a great opportunity to enter a very interesting market space with a technology that has already proven its worth on a smaller scale and with substantial potential to be developed and exploited much further. We are excited to be able to take part in this journey”. (Mads Løntoft, Head of Acceleration at Accelerace)
Since 2008, Accelerace has supported 800+ Danish and international startups, including Trustpilot and Templafy, made 65+ pre-seed investments and matched startups with industry-leading companies such as Tetra Pak, Arla, and Elia. Accelerace is also responsible for the management of NOME (Nordic Mentor Network for Entrepreneurship), an elite mentoring program for Nordic startups within therapeutics, medical devices, diagnostics, digital health, and industrial biotech.
Accelerace Invest II is the largest Danish fund in terms of numbers of investments. By making approximately 30 new investments in pre-seed stage startups every year until 2023, the ambition is to be Denmark’s most aggressive early-stage investor.
About Beyond Beta:
Beyond Beta is Denmark’s top-tier accelerator program for promising startups with a demonstrated growth ambition, operated by Accelerace, the Danish Business Hubs (under the lead of Copenhagen Business Hub – Erhvervshus Hovedstaden), and Danish Design Center, who have combined their experience of working with 1000+ startups to launch this next evolutionary step of European accelerators.
The platform-based approach means that startups can kick-start their journey today by joining the 100% free, online pre-accelerator, which can be used as an on-demand toolbox to build for scale or as a first step into the core accelerator program.