Paris-based AI startup Sinequa raises €20.5M to expand internationally

Paris-based AI startup Sinequa raises €20.5M to expand internationally

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Sinequa, a Paris-based startup specialised in the AI-powered search and analytics market, recently announced a $23 million (€20.5 million) Series B funding round led by Jolt Capital and supported by Troismer BVBA, an existing investor. With this new funding, Sinequa will invest in its award-winning AI-powered search and analytics platform that connects knowledge workers in some of the world’s largest organizations with the information, expertise and insights necessary to make information-driven decisions.

According to IDC, by 2020 organizations able to analyze enterprise content and data assets to deliver actionable information and insights will achieve an extra $430 billion in productivity benefits over their less analytically oriented peers.

Alexandre Bilger, CEO at Sinequa, said:

After investing years of research and development into building our world-class platform, Sinequa remains the only software company providing enterprise customers with the means to accelerate innovation, improve efficiency and agility. We do this by synthesizing all enterprise data, in all formats and all languages into accessible and useful information, securely and at scale. This round of financing will allow us to quickly achieve our vision to power the information-driven economy.

Fabrice de Salaberry, COO at Sinequa added,

Sinequa has recorded strong growth year over year culminating at 91 percent for 2018. With these additional resources, we will continue to innovate and focus on ways to better serve our customers while broadening our market footprint and expanding our partner ecosystem. The entire organization is excited to enter this new phase of accelerated growth.

Jean Schmitt, managing partner at Jolt Capital, said:

Our mission, as a private equity tech investor in Europe, is to back innovative technology companies like Sinequa, which deliver outstanding financial performance. Sinequa provides a comprehensive and robust AI-powered search platform using state-of-the-art natural language processing and machine-learning technologies enabling large organizations to extract value from data. Given this strong market pull, we are delighted to team up with Sinequa and support its next phase of global expansion.

Forrester Research recently recognized Sinequa as a leader in its “Forrester Wave: Cognitive Search, Q2 20191 report stating, “Sinequa augments intelligence en masse. Sinequa’s goal is to help organizations become ‘information driven’ by augmenting the intelligence of every employee. The company accomplishes this by surfacing knowledge, uncovering insights, and connecting experts via its cognitive search technology. Sinequa expertly balances using its own Natural Language Understanding technology in combination with the latest open source ML technology. It has significant industry expertise in and offers solutions for life sciences, financial services and manufacturing.”

Sinequa is an independent software vendor providing an AI-powered search & analytics platform for Global 2000 companies and government agencies that connects people with the information, expertise and insights necessary for organizations to become information-driven. For Sinequa customers, this means actionable information presented in context to surface insights, inform decisions, and elevate productivity. The platform has been forged by experience in projects for large organizations in complex environments with large and diverse sets of data and content. Sinequa’s unified platform is fully integrated and configurable to support current and future needs around becoming information-driven.

— Press release

Stay tuned to Silicon Canals for more updates in the tech startup world.

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