Luxembourg-based Tadaweb, a company that provides an open-source intelligence platform to transform how businesses generate intelligence from publicly available data, announced on Wednesday, January 4, that it has raised €15M in a fresh round of funding.
Tadaweb co-founder François Gaspard says, “Becoming part of the Wendel portfolio is another step in our long-term growth plans worldwide. We have a shared history in Luxembourg as well as France and have a shared commitment to building enduring businesses. At Tadaweb, we continue to be deeply steeped in our European roots. This opportunity to partner with Antoine and the Wendel Growth team is truly a special moment in our story.”
The funding came from Paris-based investment firm Wendel’s investment arm Wendel Growth. The firm has acquired a minority interest in Tadaweb, expected to close in the first quarter of 2023.
Wendel aims to invest up to €50M in scale-ups in Europe and North America and says it will continue to invest in funds and funds of funds.
Jérôme Michiels, EVP, CFO and Head of Wendel Growth, says, “I am very pleased to welcome Tadaweb into Wendel’s portfolio. This first direct investment in Europe by the Wendel Growth investment team, led by Antoine Izsak, is fully in line with what we want to target: innovative companies with high growth and leadership potential, led by committed entrepreneurs.”
Transforming how businesses produce insight from information
Founded in 2011 by Francois Gaspard and Genna Elvin, Tadaweb is an open-source intelligence solutions provider. It enables businesses to produce actionable intelligence by maximising the effectiveness of research techniques and cutting the time it takes to get insight from days to minutes.
Co-founder Genna Elvin says, “This investment marks another major milestone in our history. It will accelerate our expansion globally, including our entry into the US and additional European markets. We have been a profitable company for over 5 years, and this represents a pivotal step for the company. Our recently expanded leadership team, along with this relationship, significantly shifts our ability to scale our products and the global markets we serve.”
Currently, the Luxembourg-based company employs over 120 people and has offices in Paris, London, and Ottawa.
About Wendel and Wendel Growth
Wendel claims to be one of the top publicly traded investment corporations in Europe. The firm makes investments in industry leaders including Bureau Veritas, ACAMS, Constantia Flexibles, Crisis Prevention Institute, IHS Towers, Stahl, and Tarkett in both Europe and North America. Wendel aims to put into practice long-term development plans, which include accelerating company growth and profits in order to strengthen their market positions.
With Wendel Growth (formerly known as Wendel Lab), Wendel makes direct investments or fund-level investments in high-growth businesses. With close to €170M commitment through the initiative in recent years, Wendel Growth seeks direct investment and co-investment opportunities in startups.