With $110M raise, Ascendx Cloud gives Enterprise CRM data sollutions an AI lift

In today’s enterprise landscape, companies face overwhelming customer data spread across disconnected platforms. Many are grappling with translating that data into usable insights that drive business performance. Ascendx Cloud steps into this complexity, offering tools that enable CRM platforms like Salesforce, ServiceNow and Snowflake not just to store but optimise and act on this data. Its enterprise CRM data solutions now support over 500 large organisations, including numerous Fortune 500 firms, across banking, life sciences, and manufacturing sectors.
The global CRM market is experiencing explosive growth. It was valued at approximately $70.2 billion in 2024 andprojected to reach$178.7 billion by 2034, with a CAGR of 9.8%. North America leads the charge, commanding over 32% of the market, a key reason Ascendx Cloud is focusing its expansion efforts in the US. As the market grows, so does the demand for intelligent, AI-driven solutions.
Against this backdrop of rapid market evolution, London-based SaaS provider Ascendx Cloud has secured $110M in growth-stage funding. The round, led by Osprey Investors and Columbia Lake Partners, includes $60M in equity and $50M in debt financing. This strategic investment will power the company’s expansion across the US and support acquisitions to enhance its AI-driven CRM application suite.
Founded in August 2023, a diverse trio of experienced tech and investment professionals created Ascendx Cloud. CEOUfukCivilo, formerly a tech investor at TPG, alongsideJames Lumb, founder of Zenkraft, and Bertan Ilbak, a private equity veteran from Mediterra Capital. Their shared vision is to reimagine how enterprise firms use CRM systems, an ambition born from firsthand experience with companies struggling to scale data workflows efficiently.
Their combined expertise has enabled rapid progress. In 2024 alone, Ascendx Cloud grew revenues by approximately 300% and recently acquired US-based CapStorm to broaden its AI-powered offerings. CapStorm, founded in 2011, specialises in schema resiliency, data and metadata segmentation, and restoration-processing billions of records daily across healthcare, finance, and public sector organisations.
This acquisition brings mature data management capabilities to Ascendx’s AI innovations. Ted Pappas, CEO of CapStorm, noted, “Joining Ascendx provides access to expanded resources and strategic guidance that will accelerate innovation while maintaining the core principles that made CapStorm trusted in Salesforce data management.”
The startup’s board features high-profile names such as Gavin Patterson, former President and CRO at Salesforce, and Pullen Daniel, co-founder of nCino. Patterson emphasises the industry’s inflexion point: “AI and automation are no longer optional, they’re essential. CRM must do more than manage relationships; it must anticipate them. Ascendx Cloud has the vision, technology, and team to lead this transformation.
The funding round brought together a strong mix of institutional and angel investors. Osprey Investors, known for backing high-growth SaaS businesses, led the equity component. Thomas Weisman, co-founder and Managing Partner at Osprey, stated, “We’re thrilled to continue to support the Ascendx Cloud team on their journey toward building the world’s leading portfolio of CRM SaaS applications. We are particularly excited about Ascendx Cloud’s growth opportunities as customer use cases evolve towards more agentic and automated CRM interactions, where Ascendx Cloud has developed a strong product positioning.”
Other participants include notable figures such as Charles Delingpole, founder of ComplyAdvantage; Sujay Tyle, founder of Merama; Chris North, former CEO of Shutterfly and Amazon UK; and Malte Janzarik, previously Head of TPG Europe. Their collective experience across high-growth and enterprise tech provides Ascendx Cloud with capital and valuable strategic insight.
CEO Ufuk Civilo said, “AI is redefining the enterprise software stack and CRM is at the heart of that transformation. With data complexity continually growing, legacy CRM systems are buckling under the pressure to increase the value and productivity for organisations and deliver solid intelligence. This investment is a pivotal milestone in enabling us to better support the world’s largest organisations with the most complex workflows to move faster, smarter and at scale.”
Ascendx Cloud’s technology is arriving at a time when the market for AI-first CRM solutions is reaching a turning point. Gavin Patterson, now a board member at Ascendx, explained, “We’re at a critical inflexion point in the evolution of CRM, where AI and automation are no longer optional, they’re essential. As enterprise demands evolve, CRM must do more than manage relationships; it must anticipate them. Ascendx Cloud has the vision, technology, and team to lead this transformation, and this fundraise reflects both the urgency and the opportunity to reimagine CRM for the world’s most demanding enterprises.”
As we advance, Ascendx Cloud plans to expand its workforce in the US and continue exploring strategic acquisitions to broaden its enterprise CRM data solutions. The company is also committed to social impact as a Pledge 1% movement member, having pledged 1% of its equity to community-focused initiatives.
By blending AI, workflow intelligence, and scalable architecture, Ascendx Cloud is carving out a unique space in a competitive field that includes legacy providers and modern disruptors alike. Yet their ability to unify and supercharge data across existing CRM platforms sets them apart -and positions them as one to watch in the coming era of intelligent enterprise systems.