Ascendx Cloud Raises $110M to Scale AI-Powered CRM Solutions for Global Enterprises
March 6, 2025
Ascendx Cloud, a London-based provider of enterprise-grade CRM SaaS solutions, has raised $110 million in growth-stage funding. The round, comprising $60 million in equity and $50 million in debt financing, was led by Osprey Investors and Columbia Lake Partners. Angel investors in the round include Charles Delingpole, founder of ComplyAdvantage, Sujay Tyle of Merama, Chris North, former CEO of Amazon UK, and Malte Janzarik, former head of TPG Europe.
Founded in August 2023 by Ufuk Civilo — formerly a tech investor at private equity firm TPG — alongside James Lumb and Bertan Ilbak, Ascendx was built as a buy-and-build platform in the Salesforce ecosystem. The company acquires and scales Salesforce-native software companies, providing them with product engineering, go-to-market, and operational support. In under two years since founding, it has assembled a portfolio of mission-critical CRM applications used by over 500 enterprise customers, including Fortune 500 companies such as Verizon, Johnson & Johnson, and Citi.
Ascendx Cloud grew revenue approximately 300% in 2024, and recently acquired US-based CapStorm, a Salesforce secure data control and management application, to expand its AI capabilities. The company’s strategic positioning centres on the convergence of AI and CRM: Gartner projects that 75% of CRM solutions will incorporate AI features by 2026, creating significant demand for the kind of data integration and workflow automation tools Ascendx builds.
The board includes Gavin Patterson, former President and Global CRO of Salesforce, who described the moment as a critical inflection point for CRM: “As enterprise demands evolve, CRM must do more than just manage relationships, it must anticipate them.” The funding will support further acquisitions in adjacent product categories and the expansion of Ascendx’s US team.
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