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

Elemental Cognition Overview

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

United StatesNew York City, NY

Website

ec.ai

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

Elemental Cognition funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2023Series BBreyer Capital; AME Cloud Ventures; Staged Ventures; Bridgewater Associates$60MElemental 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 2019Series A-$35MElemental 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 2015Seed-$32MElemental 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

Investors in Elemental Cognition by funding rounds participated
InvestorHQRoundsRoleFirst check
Breyer CapitalUnited StatesSan Francisco, CA1ParticipantJun 2023
AME Cloud VenturesUnited StatesSan Francisco, CA1ParticipantJun 2023

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Elemental Cognition Competitors

Elemental Cognition competitors include listed companies like Snowflake and Z.ai, and private ones like Anthropic, OpenAI, DeepSeek and Cognition.

Public and private companies comparable to Elemental Cognition
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AnthropicUnited StatesSan Francisco, CAPrivate$47B-$965B20.5x
OpenAIUnited StatesSan Francisco, CAPrivate$25B-$852B34.1x
SnowflakeUnited StatesUnited StatesPublicly listed$4.7B($1.3B)$119B21.0x
DeepSeekChinaHangzhouPrivate--$50B-
CognitionUnited StatesSan Francisco, CAPrivate$900M-$48B53.3x
Z.aiChinaChinaPublicly listed$108M($658M)$46B65.9x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Palantir$4.5B$1.5B92.6x58.1x285.0x97.4x
Snowflake$4.7B($1.3B)25.6x21.0x(94.1x)121.7x
Z.ai$108M($658M)422.9x65.9x(69.4x)(73.0x)
IonQ$130M($531M)109.9x40.3x(26.9x)(39.1x)
MiniMax Group$79M($1.9B)131.8x-(5.5x)-
Presight AI$825M$214M6.3x5.4x24.4x20.8x
Affle 3i$282M$67M7.4x6.7x31.3x29.5x
Ncino$595M$65M4.3x4.0x39.0x15.8x

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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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