French search engine Algolia used by Slack, Stripe gets huge €100M Series C funding

For long, organisations had to choose between building resource-intensive search tools all by themselves using lower cost and inflexible search solutions. This is where French startup Algolia comes to the picture as it removes the complexity and cost of building of a search engine and empowers businesses creating customised experiences for customers.

Algolia founded in 2012 by Nicolas Dessaigne and Julien Lemoine is a SaaS (Search-as-a-Service) platform, which enables companies of any size to deliver relevant and fast digital experience driving real results. The company lets consumers find and discover anything that they want easily across mobile, web, and voice.

Funding to accelerate growth

Algolia, one of the group of startups providing SaaS for websites and apps as an alternative to search engines has closed $110 million (around €100 million) Series C funding. The funding round was led by Accel along with other investors including Salesforce Ventures, Alven, Founders Circle, SaaStr Fund, DAG Ventures, Owl Rock Capital, and World Innovation Lab.

The company will use this to invest in R&D around its search technology and fuel global expansion in the Asia Pacific, North America, and Europe. Based in France, Algolia has offices in New York, Atlanta, Tokyo, and London.

Prior to this, Algolia announced the closure of $74 million (around €67 million) from Accel, Storm Ventures, Point Nine Capital, 500 Startups, Y Combinator, and a slew of other investors.

Companies benefiting from Algolia

Over 8,000 companies including Medium, Slack, Stripe, Discovery Inc., Zendesk, LVMH, Lacoste, Intuit, and Birchbox use this platform to manage 70 billion search queries each month. Being leading companies, the clientele of Algolia delivers fast, relevant and engaging digital experiences to drive results.

New addition to the board

Besides the funding, Accel’s Niparko has joined Algolia’s board of directors. “With a world-class team of search experts and a passionate customer base, Algolia has become the market leader in Search-as-a-Service,” said Nate Niparko, Partner, Accel. “Algolia is accelerating innovation in personalized and intelligent search, enabling companies to deliver a great user experience that drives improved business results. We are excited to double down on Algolia and support its mission to lead the search and discovery market.”

Helps companies get insight

Algolia’s mission is to help businesses take control of how people search and find their products and content via a personalised experience. The SaaS service and suite of APIs are built by developer-friendly and easy to implement. All its aspects including personalisation, analytics, and testing are meant to maximise the growth of businesses.

Appears on the Inc. 5000

Algolia, the leading Search and Discovery solution announced in August that it has been honoured by getting into the annual Inc. 5000 list. It is one of the prestigious rankings of the nation’s fastest-growing private companies. What’s interesting is that the company has made itself into the list for the second consecutive year.

Main image picture credit: Algolia

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