Veridion, a Romanian-founded business intelligence startup that builds a living digital replica of the global business landscape, has raised $20 million in Series A funding to expand its AI-powered platform, which continuously updates data on around 640 million businesses worldwide. The round was led by Hoxton Ventures, with participation from existing investors including Underline Ventures, OTB Ventures, Gapminder, Day One Capital and LAUNCHub.
The Series A follows two seed rounds of €1.3 million ($1.5 million) and €5.1 million ($6 million), bringing Veridion's total funding raised to more than €25 million ($27.5 million). It is also the company's largest round to date.
The funding marks Hoxton's second bet on a Romanian enterprise AI company, after Bucharest-founded Druid AI, which the fund has backed from its 2022 Series A through to its 2025 Series C. Both investments reflect Hoxton's broader focus on European software companies with the potential to scale globally.
"Every important decision about a company still depends on data that is usually out of date."
— said Hussein Kanji, founding partner at Hoxton Ventures, adding that Veridion is "rebuilding that foundation for the entire economy."
Veridion already mapped 642 million companies
Veridion, previously known as Soleadify, was founded in 2019 by Florin Tufan, Mihai Vinaga, and Sorina Vlăsceanu and rebranded under its current name in 2023, with Florin Tufan serving as CEO.
At the core of Veridion's technology is a continuously updated "business graph" that analyses billions of digital signals, including company websites, public registries, regulatory filings, online product catalogues, social media profiles and trusted news sources. The system uses this information to build and maintain detailed profiles of businesses around the world, updating them as conditions change rather than relying on data refreshed only quarterly or annually.
Veridion says its platform currently covers 642 million companies across 249 countries, with 461 attributes for each company. It also claims its technology can deliver market intelligence up to 52 times faster than traditional sources while covering more than 30 times as many businesses.
The startup currently works with more than 100 organisations and has a team of over 60 people across Europe and North America, which is already its largest market. One of its key partnerships is with Experian, which uses Veridion's data to improve decision-making and gain greater visibility into private companies.
"Veridion lets us bring new signals about how companies actually operate into our models, capturing risk that traditional credit data simply couldn't see," said Jon Roughley, Director of Data Strategy, Innovation at Experian. The approach, he added, allows Experian to identify risk earlier and assess businesses that were previously difficult to see through traditional credit data.
The growing importance of business intelligence
The disruptions around the Strait of Hormuz have put the risks of relying on outdated business data into sharper focus. Geopolitical events can quickly affect trade, supply chains and individual companies, while rising business failures and market volatility are adding to the pressure on organisations to work with more current information.
According to Stefan Gergely, Head of Growth at Veridion:
"Commercial risk now changes by the hour. Information updated quarterly or annually is no longer intelligence. It's history"
The new funding will be used to accelerate product development, expand Veridion's team and support its international expansion, as the company looks to bring its real-time business intelligence to more organisations globally.
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