Series C Investment from Accel and Salesforce Ventures Reflects Growing Need to Deliver World-class Search and Discovery Experiences
Algolia, the leading Search and Discovery solution, announced it has raised $110 million in funding. The company’s Series C was led by existing investor Accel, with additional investments from Salesforce Ventures and several other leading firms.
There are over 4.5 billion people on the web today1. They are searching across 1.8 billion websites2 and millions of apps3. Algolia’s 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 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.
“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.”
“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 Jérémie 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.”
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. 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.