Funding will support product development and U.S. expansion as Veridion scales its AI-powered business data platform

Business intelligence company Veridion has raised $20 million in Series A funding to expand its AI-powered platform, which provides continuously updated data on businesses worldwide.

The company says its technology can deliver market intelligence up to 52 times faster than traditional sources and covers more than 640 million businesses, giving organizations a broader and more frequently updated view of the global business landscape.

The funding comes as financial institutions, insurers, procurement teams and other organizations face greater pressure to monitor changing commercial risks, supply chains and business relationships in real time.

Building a Continuously Updated Business Graph

Veridion's platform analyzes billions of digital signals from sources including company websites, public registries, regulatory filings, product catalogs, social profiles and news reports.

The data is used to create what the company describes as a live business graph, allowing organizations to monitor changes in companies and commercial relationships rather than relying primarily on periodically refreshed databases.

Veridion said this approach can help identify businesses that are forming, failing, relocating or changing their risk profiles more quickly than traditional business intelligence systems.

Tracking Supply Chain and Commercial Risk

The company highlighted disruption around the Strait of Hormuz as an example of where continuously updated business data can be useful.

According to Veridion, organizations using its platform were able to identify businesses, suppliers, customers and commercial relationships potentially exposed to the disruption and assess those relationships within hours.

The broader platform is used across market intelligence, insurance, third-party risk, ESG, procurement and supply chain operations. Veridion said more than 100 organizations use its data, with customers collectively representing almost $2 trillion in market capitalization.

Experian Uses Veridion Data for Private Company Visibility

Experian is among the companies using Veridion's data to improve visibility into privately held businesses and incorporate additional signals into risk models.

“The pace of change in the business world keeps accelerating, and the data behind risk decisions has to keep up,” said Jon Roughley, Director of Data Strategy, Innovation at Experian. “Veridion lets us bring new signals about how companies actually operate into our models, capturing risk that traditional credit data simply couldn’t see.”

The integration is intended to help organizations identify potential risks earlier and evaluate businesses that may have limited visibility through conventional credit data.

Funding to Accelerate U.S. Growth

The Series A round was led by Hoxton Ventures, with participation from existing investors including Underline Ventures, OTB Ventures, Gapminder, Day One Capital and Launchub.

Hoxton Ventures founder Hussein Kanji said the investment reflects a shift toward faster-moving business intelligence and data infrastructure capable of providing more current information to enterprises.

Veridion, founded in 2019, currently employs more than 60 people across North America and Europe. CEO and co-founder Florin Tufan said the new funding will support product development, expansion of the company's U.S. team and deeper relationships with U.S. institutions.

The company plans to double its U.S. headcount over the coming months as it expands its real-time business intelligence platform into additional enterprise use cases.