Data and AI consultancy Artefact partners with Cinven to triple the business by 2030
Artefact, a Paris-headquartered international provider of data and artificial intelligence consulting services, has secured a major investment from private equity firm Cinven at a valuation of over €1 billion.
Established in 2014, Artefact supports multinationals and mid-sized businesses with turning their data into their next goldmine, with expertise in areas such as data science, advanced analytics and artificial intelligence. The consulting firm works across business functions, with a particularly strong track record among CIOs and CMOs.
Under the wings of its new owner, Artefact aims to embark on its next chapter of growth. Today the company employs around 1,700 people in 31 offices across 25 countries.
“We are delighted to welcome Cinven as our strategic partner. We look forward to the opportunities that this partnership can deliver and the greater value we can provide to our customers while further cementing Artefact’s leadership in the industry,” said Vincent Luciani, co-Founder and Executive Chairman of Artefact.
Cinven acquired its majority stake in Artefact from Ardian, which came on board in 2021 and helped the business accelerate its growth and expand internationally. “We would like to thank Ardian for their steadfast support and partnership over the last years. This partnership will enable us to continue our journey with even greater momentum and resources,” Luciani noted.
According to Rory Neeson, partner at Cinven, “Artefact’s leading-edge expertise in data and AI, coupled with its excellent people, strong culture and global footprint, positions it uniquely within its market.”
As part of the deal, Artefact’s founders, management team members and partners have re-invested in the company.
The ambition is to triple the size of the business to over 5,000 staff by 2030 and build a true global footprint with operations across all major markets and continents. That goal will be realized through an aggressive campaign of organic growth, and a buy-and-build strategy, with around 20 bolt-on acquisitions expected to be closed over the coming five years.
