iGenius raises €10 million to turn business data into a virtual brain

July 15, 2022
2 mins
Microsoft Italia and iGenius bring the Generative AI into the world of numbers
The company is known for its augmented analytics platform Crystal, which combines several AI techniques to democratize data for business users. 
Milan, Italy // July 14, 2022 – iGenius announced today that it has closed a €10mln Series A+ funding round led by NovaCapital, with the participation of Blacksheep MadTech Fund. iGenius’ complete enterprise-grade platform provides businesses with a SaaS decision intelligence solution that literally makes data talk. 
The new funding will be used to expand market reach and accelerate its sales and marketing efforts in Europe and USA.
Uljan Sharka, CEO of iGenius, states: “We’re thrilled to partner with NovaCapital and Blacksheep MadTech Fund to continue on our mission to enable and empower companies with human-centric data intelligence products.”
iGenius has developed the most advanced AI technology for business intelligence, which enables organizations to make better decisions by understanding and responding to changes in their data in real-time. The platform delivers on three Top Strategic Technology Trends that Gartner has outlined for 2022: Distributed Enterprise, Decision Intelligence, and Data Fabric. 
The pandemic has triggered faster technology change than ever before, and the evidence suggests that this pace will only increase. In this fast-changing world, a CEO’s priorities are clear: aim for growth, digitalization, and operational efficiency. As AI becomes increasingly fundamental to business survival and success, the ability to leverage the power of real-time data, get to market as fast as possible, and scale quickly across teams, products, and customers has become paramount. 
“It’s exciting to hear first-hand how customers are realizing the benefits of iGenius’ AI platform. Data-driven decision-making has become critical in achieving increased operational performance and staying competitive in a fast-paced market. We are very happy to add iGenius to our portfolio. In iGenius we have found a brilliant entrepreneur and a great team who are responsible for a breakthrough in innovation. It’s going to be an exciting ride.” - Carlo Germano Ravina, Managing Director at NovaCapital. 
iGenius offers an AI platform with three core technologies. First, customers can index all their data sources by leveraging plug-and-play connectors via the low-code no-code capabilities of the platform. Second, customers and system integration partners can train the AI to serve specific augmented analytics use cases. Finally, the platform can be accessed through natural-language-based applications across mobile, desktop, and embedded end-user experiences. By introducing a conversational paradigm as the end-user interface of business data, iGenius aims to increase the adoption of analytics beyond the data-skilled, enabling access to 100% of the total addressable users. 
According to Gartner, by 2026 employees will reduce the time spent searching for information by 50%, as they will find the information embedded in the context of their work, thanks to the introduction of new innovative tools. Furthermore, by 2025 data stories created by augmented analytics will be the single most widespread way of consuming analytics.
“Data can be a huge competitive advantage for companies and can be a source of growth if correctly activated within an organization. We believe iGenius has built a killer AI application that accelerates existing business intelligence investments and ROI by extending real-time contextual access to data insight to all users. We can’t wait to start working with the team and supporting their aggressive expansion plan.” – Giovanni Strocchi, Co-founder & Venture Partner at BlackSheep Fund.
iGenius is a Gartner-recognized Cool Vendor in AI Core Technologies and was mentioned in both the Market Guide for Augmented Analytics 2021 and the Hype Cycle for Natural Language Technologies 2022.
The company's AI platform is used by some of the world's largest organizations, including Fortune 500 companies, and is rapidly gaining traction in the market. This Series A+ brings the total raised to €30mln as the company continues to execute its go-to-market roadmap with new announcements expected later in this year. 
Last but not least, iGenius develops artificial intelligence technology that is sustainable by design and by default. This is being achieved by introducing intelligent ways to process data that optimize the use of digital resources, resulting in green effects on data centers.


iGenius is the scale-up on a mission to reinvent how businesses make data-driven decisions. Thanks to Crystal, our flagship AI platform, we’re already accelerating progress in analytics and data science by taking on the chore of creating one single source of truth for business data, while simultaneously making democratized access a business standard. We run as an international virtual team located in countries around the globe. 


NovaCapital is a holding company led by entrepreneurs and managers that aims to invest in fellow entrepreneurs and their innovations. We are committed to supporting the most innovative and sustainable industries: Bio-Green-Health-Fin-Deep-Tech, New Space and Smart Urban Development, with investments in both Europe and the US. Our plans are centered on the source of new ideas and realities: people. That is the reason why we invest alongside exceptional entrepreneurs in our “10x innovations’’ programme, promoting products that are ten times better than their predecessors.

BlackSheep MadTech Fund

BlackSheep MadTech Fund is the first European vertical venture capital fund. Managed by Eureka SGR, it is dedicated to investments in marketing and communication technologies, led by Umberto Bottesini, Sandro Moretti, Marco Caradonna and Giovanni Strocchi - entrepreneurs and managers who have been protagonists of the digital transformation for over 20 years. More specifically, BlackSheep invests in technology companies that are changing the game in the fields of Big Data, Robotic Process Automation, Artificial Intelligence and related B2B applications for the marketing and advertising industry (MadTech).

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