Algolia, Europe’s leading search and discovery solution, today announced it has raised €100 million in funding. The company’s Series C funding round was led by existing investor Accel, with additional investments from Salesforce Ventures and several other VC firms.
There are over 4.5 billion people on the web today. They are searching across 1.8 billion websites and millions of apps. Algolia’s mission is to help businesses of any size take control of how people search, discover, and find their products and content through a personalized and relevant experience. Algolia’s Search-as-a-Service solution and suite of APIs are purpose-built to be developer-friendly and easy to implement while its analytics, personalization, and A/B testing capabilities enable business users to maximize growth.
Founded in 2012, the company is experiencing explosive growth with over 8,000 customers using Algolia’s technology to delight their users by presenting the products and content they want in milliseconds. Leading companies including Stripe, Slack, Intuit, Discovery, Sephora, Lacoste, LVMH, and Birchbox use Algolia to deliver fast, engaging, and relevant digital experiences that drive results.
Nicolas Dessaigne, the Co-founder and CEO of Algolia stated: “For too long, organizations have had to choose between building resource-intensive search tools by themselves and using lower-cost — but inflexible — set-it-and-forget-it search solutions. Algolia solves for both by removing the cost and complexity of building search, while empowering businesses to create tailored experiences that engage and delight customers. Our rapid customer growth underscores both the market’s need to deliver amazing consumer experiences, and Algolia’s ability to help customers achieve these experiences.”
Nate Niparko, Partner at Accel, commented: “With a world-class team of search experts and a passionate customer base, Algolia has become the market leader in Search-as-a-Service. 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 their mission to lead the search and discovery market.”
Algolia will use the funds to support its tremendous growth by focusing on further global expansion across the U.S., Europe and Asia-Pacific. The new funding will also support research and development teams to continue innovating and evolving Algolia’s Search-as-a-Service platform, focusing on personalization, machine learning, and voice search capabilities. Investors that participated in the Series C round also include Alven, DAG Ventures, Founders Circle, Owl Rock Capital, SaaStr Fund, and World Innovation Lab. Additionally, Accel’s Niparko has joined Algolia’s board of directors.
