Lately, the French Tech ecosystem witnessed a spectacular growth, all thanks to the new wave of entrepreneurs, investors, and talented people. As a result of this growth, there is an exponential increase in the number of fundraising. French Tech companies across various sectors have gained the attention of investors with their innovation.
In 2019, France seems to have reached a record high in terms of funding. As per a report by La French Tech, the total funding pumped into the French tech startups seem to have surpassed that of 2018 by over 23%. Among the many French cities, Paris-based tech companies have witnessed the maximum funding accounting to over €2.7 billion across 316 deals. Lagging behind Paris, the other cities such as Lyon and Montpellier companies have also witnessed notable investments in 2019.
Eventually, with the record high investments secured in 2019, these French tech companies focus to grow and develop in their respective sectors in 2020. Here is the list of the most funded tech startups in France that intend to grow in 2020.
Founders: Guillaume Lestrade, Thomas Rebaud
Total funding: €269 million
Founded year: 2016
Why its hot: French AI startup Meero aims to simplify the work of the photographer. From providing revenues and market research to invoicing, post-production, and delivery, Meero takes care of all the complicated, time-consuming tasks that plague the industry. As of now, the company collaborates with several hundreds and thousands of photographers providing them with the opportunities to create images for more than 31K brands across the world.
Back in June 2019, Meero raised $230 million (nearly €205 million) Series C from Prime Ventures, Eurazeo, Idinvest Partners, Global Founders Capital, Alven Capital and Avenir Growth Capital.
Founders: Steve Abou Rjeily, Jessy Bernal, Ivan Schneider, Stanislas Niox-Chateau
Total funding: €237 million
Founded year: 2013
Why its hot: Doctolib is an online and mobile booking platform that helps to find a specialist doctor nearby and make an appointment. With this platform, the company aims to simplify the life of physicians and healthcare facilities and improve healthcare access for patients. The online platform currently works with 75,000 practitioners and 1,400 healthcare organisations across 40 cities.
Back in March last year, Doctolib secured $170 million (nearly €150 million) Series E funding from Accel, General Atlantic, Eurazeo, Kernel Capital and Bpifrance and attained the unicorn status reaching a valuation of €1 billion.
Founders: Christian Raisson, Philippe de Chanville
Total funding: €310 million
Founded year: 2013
Why its hot: ManoMano is a platform for Home and DIY Lovers allowing them to exchange tips and advice on their DIY or gardening projects. It is the leading platform in DIY and gardening distribution on the Internet, present in 6 countries including France, Belgium, Spain, Italy, UK, and Germany.
In April 2019, ManoMano bagged $125 million (nearly €110 million) Series D from Eurazeo, Partech Partners, Bpifrance, General Atlantic, Piton Capital, Aglae Ventures and CM-CIC Capital Finance. Recently, in late January 2020, the company secured €125 million Series E funding.
Founders: François Boulet, Cyril Courtin
Total funding: €135 million
Founded year: 2001
Why its hot: French human resources solutions specialist HR Path offers a comprehensive range of services ranging from software selection to maintenance and outsourcing. It is the only authorised reseller of HR software solutions to the French market. It has developed its own HR solutions with Pandore, BiHRDy, and Geef.
In April 2019, HR Path received $112 million (nearly €100 million) Series C from Societe Generale Capital Partenaires, Banque Palatine, Andera Partners, BNP Paribas and Credit Agricole Ile-de-France.
Founders: Arthur Perticoz, Ismael Ould
Total funding: €112 million
Founded year: 2013
Why its hot: Wynd provides a software-as-a-service platform for everything that can be powered by computers and this service manages the financial and logistical, flows of stores, ranging from cashing to piloting the preparation of orders on the shelves. This software helps in integrating the inventory across online stores as well as offline stores.
Last January, Wynd raised $82 million (nearly €72 million) Series C funding from Natixis, Sofina, Sodexo Ventures and BNF Capital taking the overall funding to €112 million.
Vade Secure (Hem)
Founders: Georges Lotigier
Total funding: €81.9 million
Founded year: 2009
Why its hot: Vade Secure is a global leader in anti-phishing, malware, spear phishing, and ransomeware filtering. The filter analyses all incoming emails including links, content, attachments, etc. to detect threats and the most targeted attacks. After eliminating threats, Vade Secure eliminates the nuisance of low priority emails with its Graymail Management. It sends ads, newsletters, and social network notifications to the graymail folder and a Safe Unsubscribe button will eliminate the same forever.
In June 2019, Vade Secure raised $79 million Series B from General Catalyst Partners to protect users from phishing attack.
Founders: Firmin Zocchetto, Florian Fournier, Ghislain de Fontenay
Total funding: €89.5 million
Founded year: 2015
Why its hot: PayFit uses a SaaS solution to make paying employees much easier. This startup allows SMEs to manage payments and leaves of employees easily even without any knowledge in payroll. The employer will have to ask a few simple questions and generate pay sheets automatically.
Payfit secured $79 million (nearly €70 million) Series C funding from Eurazeo, Accel, frst, Kima Ventures, and Bpifrance in June 2019.
Founders: Adrien Nussenbaum, Philippe Corrot
Total funding: €82.9 million
Founded year: 2011
Why its hot: Mirakl provides enterprise marketplace solutions for retailers, consumer brands, wholesalers and distributors. The Mirakl Marketplace Platform offers a solution that’s easy to integrate into any eCommerce platform and has a Catalog Manager as well for managing product data quality at marketplace scale.
This French API-based marketplace platform secured $70 million (nearly €62 million) Series C funding from Elaia Partners, Bain Capital, 83North, and Felix Capital in February 2019.
Founder: Jonathan Cherki
Total funding: €130 million
Founded year: 2012
Why its hot: ContentSquare is an Artificial Intelligence-powered platform, which intends to help businesses get to know how and why users interact with websites and apps. With the use of big data, Artificial Intelligence, and behavioral data, this startup offers recommendations. It is touted to be one of the four most innovative e-commerce technologies in the world. Moreover, it is easy to integrate, simple, and quick to use.
ContentSquare secured $60 million (nearly €52.5 million) Series C funding from Eurazeo, Highland Europe, Canaan Partners and H14, an Italian VC in January 2019.
Shift Technology (Paris)
Founders: David Durrleman, Eric Sibony, Jeremy Jawish
Funding: €89.2 million
Founded year: 2013
Why its hot: Shift Technology was established to make use of Artificial Intelligence, which can unlock the future of insurance, resolve claims automation challenges and fraud detection while empowering insurers to deliver great customer experiences. It focuses on creating AI-based solutions and is on a mission to transform the insurance industry with this technology.
Back in March 2019, Shift Technology raised $60 million (nearly €53 million) Series C funding from Elaia Partners, General Catalyst, Bessemer Venture Partners, Accel, and Iris Capital.
Main image picture credits: PayFit
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