Paris-based SaaS company, Ekimetrics, has raised €24M in a fresh round of funding from two minority shareholders including Tikehau Capital via its growth capital fund and Bpifrance via its MidCap fund.
How will the funds be used?
“This investment will allow us to go even further and faster in affirming our unique positioning at the intersection of business and data science,” says Jean-Baptiste Bouzige, founder and CEO of Ekimetrics.
The raised capital will help the company to accelerate the rollout of its Core Data Science platform, expand its library of off-the-shelf business modules, and enhance its technological and methodological assets.
Besides, the funds will also serve as a catalyst for the growth of the company’s subsidiaries abroad, including the United States and China.
The company was founded in 2006 by Jean-Baptiste Bouzige, François Poitrine, Paul Seguineau, and Quentin Michard.
Ekimetrics offers industrialised corporate data science solutions to maximise its clients’ return on investment on marketing expenses and optimise sales, the customer experience, and the entire operational model.
The company targets both larger and intermediate-sized enterprises as well as major organisations across all industries, seeking to help them build their data capital, and use data science and artificial intelligence (AI) to further their business in a practical, sustainable and ethical way.
“After 14 years of experience, we have a clear vision and firm beliefs about the factors that ensure data projects have a genuine impact and create new competitive advantages,” comments Jean-Baptiste Bouzige.
Since its inception, Ekimetrics has seen organic growth of around 30% per year, self-funding projects in over 50 countries. Currently, it operates from Paris, London, New York, and Hong Kong, and claims to have its largest independent teams in Europe, which comprises of over 240 data scientists.
Positioning and services on the market
According to the company, its different approach involving off-the-shelf modules is the reason for its strong growth as it occupies a middle ground in comparison to its competitors.
Other players in the market either offer:
- “tailor-made” solutions, which have low levels of standardisation and hence struggle to secure successes for the company at large, or
- Powerful platforms but lack the flexibility to overcome time-to-market constraints
Ekimetrics claims to help its clients avoid the main pitfalls of data projects, for which high failure rates (over 75%) and lengthy implementation phases remain the norm. The company’s long-standing, close relationships with its clients, including major international firms, have demonstrated the market need for this approach, claims the company.
Image credit: Ekimetrics