Phillip Hazen and Gerry Coulter Join as Co-Investors and Take the Helm to Transform Decision Intelligence
LYON, France--(BUSINESS WIRE)--#AIsimulation--Cosmo Tech, a market leader in AI Simulation software for enterprise decision making, today announced a majority investment from global software investor Insight Partners, with participation from former Accenture executives Phillip Hazen and Gerry Coulter. As part of the transaction, Hazen and Coulter will be appointed as Cosmo Tech's CEO and CFO, respectively. Cosmo Tech helps large organizations navigate complexity and uncertainty in enterprise decisioning. The company's AI simulation software empowers critical decision-making by providing a glimpse into the future. It evaluates millions of potential scenarios to identify the optimal path, helping enhance both financial performance and organizational resilience. Cosmo Tech is used today by large enterprises to solve supply chain resiliency challenges and save millions in logistics expense. The adaptable solution can be applied to critical dynamic decisions in supply chain, finance, forecasting, and beyond.
Commenting on the executive appointments, Cosmo Tech Co-founders Hugues De Bantel and Michel Morvan stated: "We are thrilled by Insight Partners' investment and their commitment to advancing AI globally, as they are well positioned to drive Cosmo Tech into its next growth phase. Having Phil and Gerry join our management team is especially exciting, given our strong history of collaboration during their time at Accenture." Michel Morvan will continue to spearhead innovation and product vision as Chief Innovation and Technology Officer and Hugues de Bantel will lead the EMEA organization as President of Cosmo Tech EMEA.
Of his appointment to CEO, Hazen said: "Having worked with Cosmo Tech as a strategic partner while at Accenture, joining the company feels like a natural fit with my passion for transforming enterprises with innovative technology. With an industry-leading team, standard-setting AI technology solving real business challenges, a world-class lead investor and numerous strategic partnerships with Tier 1 Global Professional Services and Enterprise Software vendors, we will be poised to bring Cosmo Tech to customers worldwide at scale to deliver measurable business results."
Following the funding, Cosmo Tech will establish a new office in the DC metro area—an innovation hub and key access point to major clients and ecosystems—anticipated to open in early 2025. In addition to the existing European commercial and product resources, this new base will support the company's North American operations and facilitate closer collaboration with the partner ecosystem and key customers in the manufacturing, transportation, and energy sectors.
Richard Matus, Vice President at Insight Partners, said of the investment: "By combining Insight's financial backing with the collective experience of the new expanded management team, Cosmo Tech is solidifying their position as a market leader. The company's AI simulation technology and optimization capabilities will further empower enterprises to drive more effective decision making and higher levels of value. We look forward to partnering with Hugues, Michel, Phil, and Gerry on this exciting next chapter for Cosmo Tech."
About Cosmo Tech
Cosmo Tech is an AI-Simulation software company for enterprise decision making and business performance optimization. Founded in 2010, Cosmo Tech is a global pioneer in the modeling of complex systems and an expert in combining core advanced simulation with other AI techniques. The Cosmo Tech AI-Simulation platform brings new predictive and prescriptive decision intelligence with the reliability demanded by large complex organizations. Leading companies in the manufacturing, automotive, energy, and transportation sectors rely on Cosmo Tech to anticipate what is coming and confidently optimize operations and strategies for better financial performance and resilience, while securing their net-zero carbon trajectory. For more information, visit Cosmotech.com.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2024, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.
Contacts
Press:
cindy.renard@cosmotech.com
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