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- Elemental Cognition
Elemental Cognition Funding, Investors & Competitors
Elemental Cognition has raised $127M across 3 funding rounds, most recently a $60M Series B in June 2023.
Last Elemental Cognition funding round
$60M
Series B · Jun 2023
Cumulative funding Elemental Cognition raised
$127M
across 3 funding rounds
Key investors in Elemental Cognition
AME Cloud Ventures
Breyer Capital
Bridgewater Associates
Staged Ventures
About Elemental Cognition
Elemental Cognition is a hybrid AI platform developer emphasizing natural language understanding and explainable reasoning. Launched in 2015 and headquartered in New York, the company serves healthcare, pharmaceuticals, finance, and travel sectors with conversational AI for complex problem-solving. Its technology powers applications at clients including Pfizer and JPMorgan Chase, integrating structured knowledge bases for transparent decision-making in drug discovery and risk assessment.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Elemental Cognition Funding History
Elemental Cognition has raised a total of $127M across 3 funding rounds.
Elemental Cognition's first fundraising round was a $32M seed round in April 2015. The most recent completed round was a $60M Series B in June 2023.
Elemental Cognition funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2023 | Series B | Breyer Capital; AME Cloud Ventures; Staged Ventures; Bridgewater Associates | $60M | Elemental Cognition, founded in 2015 by David Ferrucci, former head of IBM Watson, develops a generative AI platform combining large language models with natural language understanding and advanced reasoning for transparent, provably correct solutions to complex problems. The platform targets research & discovery and expert assistance in industries like life sciences, financial services, travel & logistics, higher education, and government. Products include Cognet for financial services chatbots and Cobra/Cora for travel planning and evidence-based research, with clients such as Oneworld Management Company and Penn State University. In August 2023, Elemental Cognition closed $60 million in its Series B funding round, including participation from Bridgewater Associates, Breyer Capital, AME Cloud Ventures, Staged Ventures, and other individuals. An SEC filing disclosed sales of approximately $59.95 million toward a target of $65.7 million, with $5.75 million remaining. This round followed previous backing from entities like Breyer Capital LP, Bridgewater Associates LP, and Stanford University. The funding supports commercial growth of Elemental Cognition's patented platform, emphasizing trustworthy AI for enterprises by integrating generative AI fluency with logical reasoning, distinct from LLM-only approaches. The company positions its neuro-symbolic AI as superior for justified decision-making where accuracy and transparency are critical. |
| Apr 2019 | Series A | - | $35M | Elemental Cognition, founded in 2015 by David Ferrucci (creator of IBM Watson), develops a generative AI platform focused on transparent neuro-symbolic AI for natural language understanding, expert problem-solving, and applications in sectors like healthcare, finance, logistics, and contact centers. Products include Cognet and Cobra for AI-enhanced chatbots in financial services and travel planning, with clients such as Oneworld Management Company and Penn State University. |
| Apr 2015 | Seed | - | $32M | Elemental Cognition is a New York-based AI startup founded in 2015 by David Ferrucci, former head of IBM Watson, developing hybrid neuro-symbolic AI platforms for transparent reasoning and problem-solving in conversational and discovery applications. Products include Cognet for financial services chatbots and Cobra (or Cora) for research and travel planning, serving clients like Oneworld Management Company and Penn State University. The company emphasizes provably correct AI that combines neural networks with mathematical logic. The earliest mentioned raise is $60 million in an undisclosed round in August 2023, disclosed via SEC filing showing $59.95 million sold toward a $65.7 million target, with investors undisclosed. |
Who has invested in Elemental Cognition?
4 investors have backed Elemental Cognition across its funding rounds, including AME Cloud Ventures, Breyer Capital, Bridgewater Associates and Staged Ventures.
Elemental Cognition Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Jun 2023 | ||
| 1 | Participant | Jun 2023 | ||
This data is available for Pro users. Sign up to see all 4 Elemental Cognition investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialElemental Cognition Competitors
Elemental Cognition competitors include listed companies like Snowflake and Z.ai, and private ones like Anthropic, OpenAI, DeepSeek and Cognition.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $47B | - | $965B | 20.5x | ||
| Private | $25B | - | $852B | 34.1x | ||
| Publicly listed | $4.7B | ($1.3B) | $119B | 21.0x | ||
| Private | - | - | $50B | - | ||
| Private | $900M | - | $48B | 53.3x | ||
| Publicly listed | $108M | ($658M) | $46B | 65.9x |
Elemental Cognition Public Comps
Elemental Cognition is still privately-owned, but its public comps include Palantir, Snowflake, Z.ai, IonQ, MiniMax Group, Presight AI, Affle 3i, Ncino, Haizhi and C3.ai.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.5B | $1.5B | 92.6x | 58.1x | 285.0x | 97.4x | |||
| $4.7B | ($1.3B) | 25.6x | 21.0x | (94.1x) | 121.7x | |||
| $108M | ($658M) | 422.9x | 65.9x | (69.4x) | (73.0x) | |||
| $130M | ($531M) | 109.9x | 40.3x | (26.9x) | (39.1x) | |||
| $79M | ($1.9B) | 131.8x | - | (5.5x) | - | |||
| $825M | $214M | 6.3x | 5.4x | 24.4x | 20.8x | |||
| $282M | $67M | 7.4x | 6.7x | 31.3x | 29.5x | |||
| $595M | $65M | 4.3x | 4.0x | 39.0x | 15.8x | |||
This data is available for Pro users. Sign up to see all Elemental Cognition competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Elemental Cognition
| When was Elemental Cognition founded? | Elemental Cognition was founded in 2015. |
| Where is Elemental Cognition headquartered? | Elemental Cognition is headquartered in New York City, NY, United States. |
| Is Elemental Cognition publicly listed? | No, Elemental Cognition is a private, VC-backed company. |
| How much funding has Elemental Cognition raised? | Elemental Cognition has raised $127M across 3 funding rounds. |
| What was Elemental Cognition's last funding round? | Elemental Cognition's last funding round was a $60M Series B in June 2023. |
| Who are Elemental Cognition's investors? | Elemental Cognition's investors include Breyer Capital, AME Cloud Ventures, Staged Ventures and Bridgewater Associates. |
| Which companies are comparable to Elemental Cognition? | Companies comparable to Elemental Cognition include Anthropic, OpenAI, Snowflake, DeepSeek, Cognition and Z.ai. |
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