Sinequa Receives $23 Million in Series B Financing Round
Frankfurt am Main — Paris — Sinequa, a specialist in cognitive search and AI-based search and analytics, has successfully closed a $23 million Series B financing led by Jolt Capital and supported by existing investor Troismer BVBA. Sinequa will invest the additional funds in research and further expansion of its AI-powered search and analytics platform to include innovative artificial intelligence capabilities. For its research-based innovative technology, Sinequa has been ranked as a leader in the field of Cognitive Search by independent consulting institutes several times.
Some of the world’s largest companies are already using the Sinequa platform to tap into very large volumes of data, analyze it, and provide their employees with contextual information derived from it. As a result, they gain new insights, make better decisions and increase their productivity. According to IDC, organizations that are able to analyze enterprise content and data assets to deliver actionable information and insights will realize an additional $430 billion in productivity benefits over less analytically oriented organizations by 2020.
“After years of research and development to build our platform, we are probably the only software vendor to offer companies the ability to accelerate innovation, improve efficiency and agility on a global scale and on an unprecedented scale. We do this by securely aggregating all enterprise data in all formats and languages into accessible and useful information — even with very large data volumes,” explains Alexandre Bilger, CEO of Sinequa. “This latest round of funding will enable us to more quickly realize our vision of the information-driven economy.”
Fabrice de Salaberry, COO of Sinequa: “Sinequa has been experiencing strong revenue growth for years, reaching 91% last year. With the additional resources, we are able to drive innovation in our products, provide even better value to our customers, expand our market presence and partner ecosystem quickly and with vigor.”
“As a private equity tech investor in Europe, we support innovative technology companies with outstanding financial performance like Sinequa,” said Jean Schmitt, Managing Partner at Jolt Capital. “Sinequa offers a comprehensive and robust AI-based search platform built on state-of-the-art natural language processing and machine learning technologies that enable large enterprises to extract value from data. Given this strong appeal in the market, we are excited to partner with Sinequa and support the next phase of its global expansion.”
Just recently, Forrester Research confirmed Sinequa’s ability to expand employee intelligence at scale in its “Forrester Wave™: Cognitive Search, Q2 20191“1) report. He said the AI platform helps companies become information-driven by expanding the knowledge of every employee. “Sinequa achieves this,” Forrester said verbatim, “by unearthing insights and connecting experts through its cognitive search technology. Sinequa combines its proprietary Natural Language Understanding (NLU) technology with the latest open source machine learning technology. The vendor has extensive industry expertise and offers solutions for life sciences, financial services and manufacturing.”
1 Forrester Research, Inc, “The Forrester Wave™: Cognitive Search, Q2 2019,” by Mike Gualtieri, with Srividya Sridharan and Elizabeth Hoberman.
Sinequa is an independent software vendor that provides a cognitive search and analytics platform for Global 2000 companies and government agencies. As a result, their employees receive actionable information in their respective work environments, gain new insights, make better decisions and increase their productivity — the company becomes information-driven. The Sinequa platform was created through experience in projects for large organizations in complex environments with large and diverse data and content. It is fully integrated and configurable to meet current and future information retrieval requirements. Sinequa develops its expertise and business globally with a broad network of technology and business partners.
About Jolt Capital
Jolt Capital SAS is an independent private equity firm that invests in fast-growing, profitable, globally focused technology companies of European origin with revenues between €10 and €100 million. Jolt Capital has invested in and catalyzed several leading technology companies, including Heptagon (now part of SIX:AMS), Inside Secure (EUR:INSD), Fogale Nanotech, Alpha Mos (EUR:ALM), Blackwood Seven, NIL Technology and 4JET. The company is authorized and regulated by the AMF. www.jolt-capital.com