We are very excited for our 2017 NY Impact alumni Tinyclues’ who just closed an $18 million round that will help propel their international growth. This round is led by EQT Ventures fund, with participation from existing investors, Alven, Elaia Partners and ISAI.
Tinyclues has reinvented the way leading B2C companies orchestrate and target CRM campaigns. Their customers can optimize their campaign planning and targeting with Tinyclues’ Deep-AI based marketing solution to dramatically increase revenue and improve customer experience. This 2 minute video explains the solution in greater detail:
Congratulations to Davis Bessis and his entire team. This great news brings the total amount of funds raised by our alumni to $169M. Our sights are now set on $200M!
Please find below the full press release.
Paris, London, New York – February 22, 2018 – Tinyclues, provider of a leading AI-first marketing campaign intelligence solution, today announced the closing of a USD 18 million Series B investment. Lead investor in the round was the EQT Ventures fund (“EQT Ventures”), with participation from existing investors, Alven, Elaia Partners and ISAI.
The Tinyclues solution uses a unique Deep AI technology that captures the latent business and customer insights contained in first-party data. It then predicts the future buyers for any product or service campaign with incredible accuracy, allowing brands to present highly relevant product offers to highly qualified audiences. Using Tinyclues to reinvent the way they create, target and orchestrate campaigns, Tinyclues customers have secured an outstanding +49% average increase in campaign revenue, in addition to a significant improvement in customer experience.
Backed by EQT Ventures, Tinyclues will further accelerate its already impressive growth in North America and Europe; in 2017, the company more than doubled its annual recurring revenue. The investment will also support an aggressive AI-first product development timetable, further empowering brands to win new sources of revenue from intelligent marketing campaigns.
“Tinyclues is changing the game for B2C marketers by adding an AI-first campaign intelligence layer on top of their campaign management solutions and processes,” said David Bessis, founder and CEO of Tinyclues. “As a result we’ve had a triple-digit annual growth and we’ve been able to seek out a top investor that shares our energy, drive and entrepreneurial spirit.”
Bessis continued: “EQT Ventures provides us not just with capital, but also access to individuals with exceptional technology-business growth experience, eager to help us drive our aggressive plans for international growth and our ambitious product roadmap.”
Tinyclues now powers marketing campaigns for more than 80 enterprise companies including Air France, Arcadia, Cdiscount, Charles Tyrwhitt, Club Med, Fnac Darty, Lacoste, Manor, OUI.sncf and Vente-privee.com.
“Tinyclues is transforming a multi-billion dollar global market with Deep AI expertise and a world-class team,” said Alastair Mitchell, Partner and investment advisor to EQT Ventures. “A huge percentage of sales for brands and retailers comes through promotional campaigns – mostly using manual segmentations or crude lookalike algorithms. AI is transforming this. Tinyclues’ platform automates the targeting of customers and the orchestration of campaigns. As a result, Tinyclues increases campaign revenue for its customers by up to 250%. This is game-changing not just for marketing campaigns, but promises to revolutionize the wider value chain, including retail category management, merchandising and customer communication.”
With the support of EQT Ventures, Tinyclues is moving forward its vision of AI-first marketing solutions, removing the guesswork from campaign marketing and redefining how B2C marketers interact with customers.
“For too long, targeted marketing had to rely on static rules and predefined workflows that forced customers into arbitrary segments. Tinyclues’ AI-first vision means that marketers no longer have to worry about figuring out the right criteria: they can simply input their marketing agendas and business goals, and let the AI compute the best audience for each campaign. Not only does AI maximize business impact and long-term customer engagement, but it also creates a radically new experience for marketers: by assisting them with quantitative aspects, it enables marketers to finally focus on content and strategy. This sets new standards for what marketers can expect from software,” concluded Bessis.
Tinyclues is the leading AI-first Marketing Campaign Intelligence solution enabling companies to generate additional revenue through intelligent campaign targeting and planning. Tinyclues’ solution uses Deep Artificial Intelligence to identify future buyers for any promoted item, even in the absence of recent intent. Companies like Brandalley, Cdiscount, Club Med, Corsair, Fnac, Lacoste, La Redoute, Manor, OUI.sncf, Rue du Commerce, Sarenza, Vente-privee.com, Vestiaire Collective, and more are using Tinyclues to optimize and orchestrate more than 600 million messages per month across channels such as email, mobile push notifications, direct mail, call centers or Facebook to generate quantified and sustainable additional revenue. Tinyclues has been listed as a Vendor to Watch in Gartner’s 2017 Magic Quadrant for Digital Marketing Analytics.
For more information, visit http://www.tinyclues.com
About EQT Ventures
EQT Ventures is a European VC fund with commitments of just over €566 million. The fund is based in Luxembourg and has investment advisors stationed in Stockholm, Amsterdam, London, San Francisco and Berlin. Fuelled by some of Europe’s most experienced company builders, EQT Ventures helps the next generation of entrepreneurs with capital and hands on support. EQT Ventures is part of EQT, a global leading investment firm, with more than 170 investments and 80 exits. EQT has raised approximately EUR 38 billion, and its companies employ c. 110,000 people and have revenues of approximately EUR 19 billion.
Paris-based Alven is an early-stage venture capital firm with over $500 million under management. Alven backs primarily ambitious European entrepreneurs in the digital technology space. Alven’s sectors of interest include notably AI, data-driven platforms, SaaS, security solutions, as well as disruptive consumer models with a particular focus on marketplaces and web brands.
Past or current investments include Algolia, Dataiku, Drivy, Happn, Wit.ai (Facebook), CaptainTrain (Trainline/KKR), Bime Analytics (Zendesk), Frichti, Tinyclues, iAdvize, Peopledoc and Wynd.
About Elaia Partners
Created in 2002, Elaia Partners is an independent Venture Capital firm, focused on the digital economy and deep-tech. Elaia Partners has more than €250m under management and invests in high potential disruptive start-ups from the first financing rounds to the emergence of global leaders. With more than 60 years of cumulated experience in both venture capital and digital industries, the investment team offers a close, proactive and relevant support to its entrepreneurs.
In September 2017, Elaia Partners launched a new line of activities dedicated to pre-seed and tech-transfer vehicles. The first initiative is the structuring of PSL Innovation Fund, together with Paris Sciences & Lettres research university.
Elaia Partners was an early investor in companies such as Sigfox, Mirakl, Criteo, Teads, adomik, Talent.io, Agriconomie, EasyRECrue, Shift Technology, Tinyclues, Orchestra Networks, Agnitio, etc.
Launched in 2010, ISAI is “the” French tech entrepreneurs’ fund gathering more than 200 entrepreneurs across the world. Almost 150 successful entrepreneurs, who have invested in ISAI, and more than 50 startup cofounders supported by ISAI share the collective ambition to write great entrepreneurial stories. ISAI invests in differentiated projects founded by ambitious teams that it rigorously selects and actively supports. ISAI means “different & remarkable” in Japanese. ISAI likes digital business models with a progressive capital intensity: marketplaces, adtech / martech, SaaS / Big Data / AI… With €160M under management, ISAI Gestion, authorized by French regulator AMF, can fund and support high potential companies at early stages (venture capital, €150k to €2M initial ticket with ability to follow on) or at more mature stages (growth equity, €1M to €15M investments).