AI Simulation Leader Cosmo Tech Receives Majority Investment from Insight Partners and Former Accenture Executives
Phillip Hazen and Gerry Coulter Join as Co-Investors and Take the Helm to Transform Decision Intelligence
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.
Richard Matus, Vice President at Insight Partners: “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.”
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.”
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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.”
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