The enterprise resource planning company Cogna Ltd., located in the United Kingdom, said today that it has raised an additional $15 million.

Chalfen Ventures and Hoxton Ventures joined Notion Capital in leading the series of financing. A few months after closing its first $4.75 million seed investment, Cogna made the increase. Prominent tech entrepreneur Hermann Hauser, who was instrumental in the founding of Arm Holdings plc, participated in the latter round.

Complex software suites known as enterprise resource planning, or ERP, platforms are used by businesses to manage their daily operations. The features of these Custom Software solutions often span a wide range of use cases, including marketing, sales, procurement, and regulatory compliance. ERP software is purchased by businesses in part because it makes data management chores like departmental exchange of company information easier.

The deployment of a standard ERP system might take many months. According to Cogna, setup timeframes might be as low as two weeks. The company's use of AI to expedite some parts of the setup process is partially responsible for this speedup.

Large language models fuel the chatbot-like interface that comes with Cogna's technology. Employees may describe the business Automation Tools they want to complete more quickly in natural language. Cogna's platform creates a unique software tool that can stream the designated tasks based on the information supplied.

For instance, a client may tell the platform that the accounting team is having trouble determining how to divide a budget across three application projects. Cogna may respond by producing an analytics tool that enables the simulation of various budget allocation scenarios. Employees have the flexibility to personalize the tools that the program creates by using natural language instructions.