– USA, CA – Algolia, the leading Search and Discovery solution, today announced it has raised $110 million in Series C funding led by existing investor Accel, with additional investments from Salesforce Ventures and several other leading firms. 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, Nate Niparko, Accel’s Partner, has joined the board of directors.
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.
“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.”
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.
“With a world-class team of search experts and a passionate customer base, Algolia has become the market leader in Search-as-a-Service,” said Nate Niparko, Partner, Accel. “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 has been a great search innovator and delivers unique experiences for customers across Commerce,” said Mike Micucci, CEO, Salesforce Commerce Cloud. “Algolia’s integration into the Commerce Cloud platform will continue to drive momentum and mutual success with our developer, partner, and customer community.”
“Our customers demand an intuitive, stellar experience that Lacoste is known for worldwide,” said JÃrÃmie Szpiro, Global Digital Director, Lacoste. “The combination of Algolia and Salesforce Commerce Cloud is a critical part of delivering this digital experience across Lacoste platforms globally and has helped double our global sales.”
“Delivering a fast, relevant experience to our online customers is a top priority,” said Nick Maupin, Product Manager, Under Armour. “With Algolia, Under Armour has been able to move from a manual, time-intensive search tool to a fast, intuitive and insight-driven search experience to deliver what our customers are searching for.”
The funding announcement also follows Algolia’s inclusion on the annual Inc. 5000 list for the second year in a row, which honors the most prestigious ranking of the nation’s fastest-growing private companies.
Algolia is the Search-as-a-Service platform that enables companies of all sizes to deliver fast and relevant digital experiences that drive real results. With Algolia, consumers are able to find and discover what they want easily across web, mobile, and voice. Algolia allows developers and business teams to build and optimize delightful search and discovery experiences that increase online engagement, conversion rates and revenue. More than 8,000 companies including Stripe, Slack, Discovery Inc., Medium, LVMH, Lacoste, Zendesk and Birchbox rely on Algolia to manage 70 billion search queries a month. Algolia is headquartered in San Francisco with offices in Paris, London, Tokyo, New York and Atlanta.
For more information: https://www.algolia.com
Accel is a leading venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of private company growth. Atlassian, Braintree, Cloudera, Crowdstrike, DJI, DocuSign, Dropbox, Etsy, Facebook, Flipkart, Jet, Pillpack, Qualtrics, Slack, Spotify, Supercell, Tenable, UiPath, Venmo, and Vox Media are among the companies the firm has backed over the past 35+ years. The firm seeks to understand entrepreneurs as individuals, appreciate their originality and play to their strengths. Because greatness doesn’t have a stereotype.
For more information: https://www.accel.com
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