Toucan Toco provides business driven insights to help organizations make transformational decisions
Capgemini and ISAI, through their joint investment fund ISAI Cap Venture, announced that they have made their first minority investment in Toucan Toco, a data storytelling solution; this forms part of Toucan Toco’s first-ever round of funding of €12 million, led by Balderton Capital.
“Attracting a promising startup like Toucan Toco, shortly after the launch of the fund, confirms that the joining of forces between a professional VC and a strong business partner is a good value proposition,” said Lucia Sinapi-Thomas, Managing Director of Capgemini Ventures.
In a global Business Intelligence market expected to reach nearly $150 billion by 20252, data will become an even more critical path to strategic decisions. Therefore, the need for a better understanding of operations and related indicators will be at the heart of major transformational projects driven by CxOs. Created in 2014 and self-financed since then, Toucan Toco has become a significant player in the data industry, focusing on data storytelling, by facilitating the understanding of complex data through simple and collaborative applications. Toucan Toco makes business data and reports, the last milestone of the data value chain, available to all levels of a company mainly for non-technical decision makers to consume.
“We are pleased to invest in Toucan Toco as we know their value proposition will enable Capgemini Invent to create deeper collaborations with our clients, by unlocking the real value of data, and accelerate major transformational projects,” said Etienne Piollet, Vice President at Capgemini Invent and Toucan Toco Business Sponsor. “Toucan Toco’s solution perfectly complements Capgemini’s approach and core competencies in driving innovation for clients.”
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Capgemini and Toucan Toco have already demonstrated their ability to deliver joint value to common clients. Along with this investment, Capgemini will support Toucan Toco’s strategic agenda of accelerated growth in Europe and the US, leveraging the Toucan Toco solution as part of its global Insights and Data capabilities and offerings.
“By democratizing data storytelling, Toucan Toco has shown over the last 5 years that it is one of the up and coming main players in the software market. Thanks to our success, we are proud to be the first company chosen by the ISAI Cap Venture fund for investment. This partnership is one of the key pillars that will help us to accelerate growth in France, but also in Europe and in the United States,” said Baptiste Jourdan, Toucan Toco’s Co-Founder and VP Europe / Head of Alliances.