Algolia said Tuesday that it has secured $1.5 million in seed funding from Index Ventures, Point Nine Capital and Alven Capital. Based in Paris, Algolia is a provider of search solutions for developers.
Algolia today announced it has raised a seed round of $1.5 million from Index Ventures, Point Nine Capital and Alven Capital. Business Angels such as Producteev founder Ilan Abehassera and Fotolia founder Thibaud Elzière were also part of the round. Algolia offers a SaaS search API for developers who look for a turnkey solution to deliver real-time, typo-tolerant and location aware search in their applications and websites.
“Algolia has brought a disruptive innovation to full text search in databases. It’s a highly skilled team that is on track to leave its mark on the market.” – Martin Mignot, Index Ventures
Algolia was founded in 2012 by Nicolas Dessaigne (CEO) and Julien Lemoine (CTO), both former technical officers at semantic search company Exalead (acquired for €135 million in 2010).
Designed with a mobile-first approach, Algolia’s Search API was built to provide light speed fast and sharp results on mobile and desktop, offline & online, no matter the size of the database or the number of users. Besides performance, Algolia has mastered what relevancy should look like for object search. Dropping the traditional obscure statistical approach, Algolia offers developers a way to decide on the fly which factors will come into play when returning results. Developers can set the rules, with the unique ability to combine relevance with objects’ popularity.
Algolia’s outstanding performance is standard to the millions of daily searches done by clients such as Socialcam:
“The response times are unbelievable. On average, queries over our 130M+ users database are answered in less than 40ms. That’s a staggering 25x faster response rate than our previous provider.” – Guillaume Luccisano, VP Engineering at Socialcam
Algolia has built from the ground up a unique solution that enables developers to make their apps and websites a lot more compelling for their users with a cutting edge search experience, in minutes:
“After struggling for month with our ranking I was amazed by the quality we obtained after just an hour of integration. We could suggest the most popular TV shows after only one keystroke, and still tolerate typing errors!” – Antonio Mendes Pinto, CEO of TVShow
Algolia offers a SaaS search API for developers who look for a turnkey solution to deliver real-time, typo-tolerant and location aware search in their applications and websites. In a matter of minutes, Algolia brings relevancy at the first keystroke, dramatically speeding up content discovery and transforming the overall user experience.
Algolia runs more than 4M queries per day, mostly in USA and Europe. It was founded in October of 2012 by search experts and is currently headquartered in Paris, France.
About Point Nine Capital
Point Nine Capital is a Berlin-based venture capital firm focused exclusively on early-stage Internet investments in areas like Software-as-a-Service (SaaS), eCommerce, marketplace and mobile. The fund and its managers, Pawel Chudzinski and Christoph Janz, have backed a number of highly successful Internet companies such as Delivery Hero, Clio, Shiftplanning, Vend, Westwing and Zendesk from their earliest stages. More information can be found at www.pointninecap.com.
About Index Ventures
Index Ventures is a leading venture capital firm specializing in investments in information technology and life sciences companies. Among the firm’s most notable investments are Skype, MySQL, Dropbox and Path.
About Alven Capital
Alven Capital is an independent Paris-based venture capital firm managing 250M€.
Alven Capital invests in rapidly growing companies with a focus on media, web and services. Alven Capital has already invested in more than 60 companies in Europe like Companeo, SeLoger.com, Lengow, Newsweb/Boursier.com, Drivy, MonShowroom, Liligo, Splendia, MobPartner, eBoutic.ch, Planetveo, Qosmos, Mailjet, Webhelp,JolieBox/Birchbox, iAdvize, Mention, etc.
More information can be found at www.alvencapital.com