Toucan Toco, a data storytelling startup founded in 2014, has completed its first-ever round of funding of €12 million, led by Balderton Capital. The funding will allow Toucan Toco to accelerate international expansion within Europe and to the US, and focus on developing new ready-to-use applications.
Toucan Toco offers companies a ‘data storytelling solution’, providing actionable insights to non-technical business users, including CxOs, HR directors, financial managers and operational staff. The platform is accessible to everyone, not just specialists; unlike other solutions, Toucan Toco does not require users to learn a new language. The interface follows a drag-and-drop format, with pre-formatted data visualization templates, which can be easily connected to multiple data sources.
Growing from 4 partners to 80 employees within 5 years, Toucan Toco is trusted by 120 corporate account clients, for 300 projects, among Renault Nissan, Engie, BNP Paribas, Crédit Agricole, l’Oréal, Marques Avenue, Elior, Sodexo. So far Toucan Toco has helped such major companies reach high end-user adoption rates of up to 90%. Impressively, President Emmanuel Macron of France and his ministers also chose the solution to track the progress of his reforms.
Already present in four European countries and the United States, Toucan Toco now plans to accelerate the distribution of its technology, particularly on the other side of the Atlantic. Over the next year, the company will aim to double its team in the United States. In parallel with international development, the company will continue to package up and extend its technology to sectors including Human Resources, Financial Services and IT Services. Additionally, Toucan Toco plans to push a new self-service “business in a box” product, which will offer a wide library of ready-to-use data storytelling templates.
Charles Miglietti, CEO and co-founder of Toucan Toco, said: “With this funding, we want to accelerate our growth, in Europe, and particularly in the United States. We want to go further and become a leader in each of our markets.”