Summit Partners backs Market Logic in €45m round

Investment firm Genui and Berlin-based Sycamore, which previously backed the company in its seed phase, also took part in the round.

The new funding will be used to accelerate product development, specifically in the realm of cognitive computing, according to a statement by CEO Kay Iversen.

Bernd-Michael Rumpf and Max Odefey of Genui and Matthias Allgaier from Summit Partners will join Market Logic's board of directors.

Company
Market Logic was founded in 2006. It develops software to present market research and intelligence to global brands, such as creating document databases for its clients which can be searched using natural language questions. Its clients include Unilever, Coca-Cola, Newell Brands, Colgate, Heineken and more than 600 research agencies.

People
Summit Partners – Matthias Allgaier (managing director).
Genui – Bernd-Michael Rumpf, Max Odefey (managing partners).
Sycamore – Thomas van Aubel (managing director).
Market Logic Software – Kay Iversen (CEO).

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