Algolia Obtains $110 Million Funding From Series C round For R&D

By StartUp City | Wednesday, October 16, 2019

Nicolas Dessaigne

Algolia, a renowned search engine startup, raised $110 million in Series C round totaling to an amount of $184 million.

FREMONT, CA: Algolia, a San Francisco-based search engine startup, raised $110 million in its latest Series C funding round, accounting for a total of more than $184 million. The Series C round was led by Accel, the same company that spearheaded the Series A and Series B rounds of Algolia. New investors, including Salesforce Ventures, also participated in the funding round. 

The company previously raised about $53 million in the Series B funding round led by Accel. Algolia’s partner Nate Niparko has joined its board of directors following the aforementioned round of finance.

Algolia is believed to deliver a great user experience, which drives up the improved business results by accelerating innovation in customized and intelligent search, says the company’s board. They have also expressed enthusiasm towards the company and to support the mission to lead the search and discovery market. Algolia’s engine is different because of its fully focused user-facing interactions; this helps the businesses to engage their users better. 

The search functions for companies’ websites are powered by Algolia’s APIs, encouraging the customers to find accurate results. Algolia claims of having more than 8,000 customers, which include successful enterprises like Stripe, Sephora, Lacoste, and Slack. 

With the latest funding, Algolia plans on broadening its reach to the U.S., Europe, and Asia-Pacific, along with investing in innovation and development. The company is set out to understand the intentions of users or the mindset better while making an inquiry. 

Some other targets of the company are to enhance its voice search options that are already introduced. The enhancements are tilted towards making the voice search conversational. However, it is still in the developmental phase. Algolia currently employs about 350 professionals and has plans of hiring 100 more people over the next year and a half. 

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