Search as a Service Firm Algolia Raises $110 Million
Algolia, a company that provides firms with search capabilities through the digital landscape, announced it has received new funding.
The startup closed on a $110 million Series C funding round, with Accel leading the round and support from Salesforce Ventures, DAG Ventures, Alven, Founders Circle, Owl Rock Capital, SaaStr Fund and World Innovation Lab. Accel’s Nate Niparko will be joining Algolia’s board of directors as part of the deal.
Algolia helps businesses search and discover information in a manner that is “lightning fast, personalized and highly relevant,” according to the company’s CEO Nicolas Dessaigne. The company helps users find what they want across the digital universe, however they want it regardless of whether they are home, at the office, or on the road.
“When Julien [Lemoine, CTO] and I started Algolia in 2012, it was clear that the world would only be more digitally immersed as more websites, apps and digital content were being produced at an increasing rate,” said Dessaigne, in a blog post. “Helping users search, discover and navigate through this digital world would be critical for the success of businesses of all sizes.”
Since its launch in 2012, Algolia has processed over 1 trillion search queries, and has amassed 8 thousand customers, and 70 billion searches a month. It’s current customer base includes Slack, Dior, Stripe, Intuit and Birchbox.