Algolia, one of our fastest growing portfolio startups has bagged a whopping $110M funding in a Series C round led by Accel in participation with Salesforce Ventures. With 8000 customers and 70 billion queries served per month, Algolia is massively growing to become one of the biggest hosted search APIs in the market.
Since its seed funding in 2014, Algolia went through its Series A and B rounds which summed up to a funding of $74.22M but after this recent Series C, Algolia’s total funding amount has increased to $184.2M.
There you go Algolia! Keep up the good work.
Having Salesforce as a strategic backer in this round is notable, as the CRM giant has only made smaller steps into search: a tool launched last month to search better on Salesforce services, and some discovery and search features in its Commerce Cloud. But there is no native search product equivalent to what Algolia does, with Salesforce instead opting for endorsed integrations with third parties, such as Algolia competitor Coveo. The plan will be for Algolia to integrate with Salesforce to continue expanding what it’s doing in Commerce Cloud with search, although there are no products to speak of as of yet
“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.”
“We have no plans to build a consumer service,” CEO Nicolas Dessaigne said. “There are a lot of companies like Amazon and Google doing a great job. We like to think of them as partners in a way, educating the whole world about search.”
“Behind 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 at 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.”
Please read the full story at TechCrunch.