Additional capital will be used to enrich the platform, grow the business and aggressively scale global operations
NEW YORK–(BUSINESS WIRE)–Sinequa, a recognized leader in the AI-powered search and analytics market, today announced a $23 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.
“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,” said Alexandre Bilger, CEO at Sinequa. “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.”
“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,” said Jean Schmitt, managing partner at Jolt Capital.
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.”
1 Forrester Research, Inc., “The Forrester Wave™: Cognitive Search, Q2 2019” by Mike Gualtieri, with Srividya Sridharan and Elizabeth Hoberman.
About Jolt Capital
Jolt Capital SAS is an independent Private Equity firm investing in fast growing, profitable, globally-oriented technology companies of European origin, with revenues between €10m and €100m. Jolt Capital has invested in and catalysed various champion 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 firm is authorized and regulated by the AMF. For more information, visit www.jolt-capital.com.
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. For more information visit www.sinequa.com.
Claudine Caruso/Taylor Hixson