$28m raised by French startup to revolutionise data project deployment
French software provider, Saagie has announced a $28m fundraising round with Crédit Mutuel Innovation, alongside NewAlpha Asset Management, Seventure Partners and AG2R LA MONDIALE. Historic investors Cap Horn, BNPP Développement and C.Entrepreneurs (managed by Cathay Innovation) also participated.
On the back of this funding the company aims to double its 90-strong team over the next two years, strengthen its leadership on the DataOps market, and accelerate international development.
“We aim to build a French champion in data analysis that can really compete internationally. France has the ecosystem and expertise that will enable us to make this happen and this latest round of fundraising represents a key milestone for our company,” stated Jérôme Trédan, CEO, Saagie.
In a context of widespread digital transformation, data enables businesses to anticipate and facilitate decision-making. Saagie is a software provider that orchestrates data technologies to accelerate the deployment of analytics projects. The company promotes DataOps practices to manage the entire data lifecycle in an agile way, by reducing the technological complexity associated with data projects, and making multi-team collaboration easier. Through Saagie’s DataOps Orchestrator, customers like the French Ministry of Armed Forces and Vallourec were able to launch their projects three times more quickly by placing data at the heart of their decision-making processes.
Today, all businesses worldwide require quick and agile delivery of data projects. In this way, Saagie’s offer has been made available through the main public cloud providers - Amazon Web Services, Google Cloud Platform, Microsoft Azure and OVH Cloud - which means it can now be accessed and deployed globally.
“In addition to their technological edge, we are confident that this fundraising round will give Saagie the upper hand in terms of data control to address public sector customers,” stated Guillaume Dhee, Investment Director at Crédit Mutuel Innovation. “As an evergreen investor, we are proud to have fulfilled our pre-COVID-19 commitments,” he added.
DataOps to accelerate data project deployment
DataOps is Gartner’s new ‘Hype Analytics’ trend. Based on DevOps and Agile practices, the approach aims to accelerate the deployment of analytics projects by managing the entire data life cycle, from extraction to data visualisation by final users.
“DataOps is the missing link between innovation and control, data labs and IT. I created Saagie to cater for a real need within business - to be able to manage different technology platforms within a single data project more easily in order to increase productivity,” commented Arnaud Muller, Founder and Executive Chairman of Saagie.
New investors to accelerate international development
Saagie plans to expand its presence in the US by recruiting sales and marketing experts and establish its leadership in DataOps worldwide.
Jonathan Cohen Sabban, Managing Director at New Alpha Asset Management, was “impressed by Saagie’s expertise. We are convinced that their avant-garde vision will enable them to become a new data champion.”
“The fact that Saagie works closely with major companies such as Vallourec or Matmut attests to their importance in driving digital transformation within business. Seventure Partners is delighted to join this incredibly promising adventure,” commented David Manjarres, Managing Partner & Head of Digital Technologies Team at Seventure Partners.
In addition, AG2R LA MONDIALE joined forces with Caisse d’Epargne, Matmut and BNPP for this fundraising round. “Being able to more efficiently use data is key to digital transformation, and this efficiency relies on the ability to rapidly develop and deploy data projects on an industrial scale. It’s for this reason that we support Saagie’s development through our investment fund ALM Innovation, dedicated to innovation and R&D projects,” stated Emmanuelle Saudeau, Member of AG2R LA MONDIALE’s Group Management Committee in charge of the Digital & Customer Department.
This new financing round was structured by Benjamin Cichostepski and Gisele Esteves Guedes for Orrick, Benoît Lespinasse for Duteil Avocats, Matthias Collot for Exponens, and with the support of Alpha Capital Partners (Mark Oiknine).