Veridion, a Bucharest-based business intelligence firm, has closed a $20 million Series A round to grow its AI-powered system that tracks and updates information on approximately 640 million enterprises across the globe. Hoxton Ventures led the investment, joined by returning backers Underline Ventures, OTB Ventures, Gapminder, Day One Capital and LAUNCHub.
The round represents the company's largest capital injection to date, following two earlier seed stages that brought in €1.3 million and €5.1 million respectively. Combined with this Series A, Veridion has now raised more than €25 million in total funding.
This investment marks Hoxton's second major bet on a Romanian enterprise AI company, following its backing of Druid AI from 2022 through 2025. Both deals underscore the fund's strategy of backing European software firms with potential for worldwide expansion.
Every important decision about a company still depends on data that is usually out of date.
Hussein Kanji, founding partner at Hoxton Ventures
Kanji characterised Veridion as "rebuilding that foundation for the entire economy."
Mapping 642 million businesses with real-time signals
Founded in 2019 by Florin Tufan, Mihai Vinaga and Sorina Vlăsceanu under the name Soleadify, the company rebranded to Veridion in 2023. Tufan serves as chief executive.
The platform's engine is a dynamically refreshed "business graph" that processes billions of data points from company websites, public business registries, regulatory documents, product listings, social networks and journalistic sources. Rather than relying on quarterly or annual updates, the system continuously revises business profiles as new information emerges.
Veridion's database now encompasses 642 million companies spanning 249 nations, with 461 data attributes per entity. The company claims its technology delivers market insights 52 times faster than conventional databases while covering 30 times more businesses.
The startup serves over 100 clients and employs more than 60 staff distributed across Europe and North America, where it has established its strongest presence. A notable partnership involves Experian, which leverages Veridion's data to strengthen its risk assessment capabilities.
Veridion lets us bring new signals about how companies actually operate into our models, capturing risk that traditional credit data simply couldn't see.
Jon Roughley, Director of Data Strategy, Innovation at Experian
Roughley noted that this approach enables Experian to detect risks sooner and evaluate enterprises that were previously opaque through standard credit information channels.
The growing importance of business intelligence
Recent geopolitical tensions in the Strait of Hormuz have highlighted the dangers of operating with stale business information. Sudden political events can reshape trade flows, disrupt supply chains and alter company circumstances, while mounting bankruptcies and market instability are forcing organisations to seek fresher data.
Commercial risk now changes by the hour. Information updated quarterly or annually is no longer intelligence. It's history
Stefan Gergely, Head of Growth at Veridion
Veridion intends to deploy the new capital toward speeding up product development, hiring additional personnel and pursuing expansion into new territories, aiming to deliver real-time business intelligence to a broader customer base worldwide.
