Algolia Raises $110 Million in Series C Funding
Algolia, provider of a search and discovery solution, has raised $110 million in a Series C funding round, led by existing investor Accel, with additional investments from Salesforce Ventures and other firms.
Algolia says its 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.
The company says that its technology is used by more than 8,000 customers, including Stripe, Slack, Intuit, Discovery, Sephora, Lacoste, LVMH, and Birchbox.
“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,” said Nicolas Dessaigne, Co-founder and CEO, Algolia. “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.”
Algolia will use the funds to support its 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.
To learn more, visit www.algolia.com.