Algolia, a US-based developer of advanced online search software, received $110m yesterday in a series C round featuring Salesforce Ventures, the investment arm of customer relationship management software provider Salesforce.
Venture capital firm Accel led the round while Alven Capital, DAG Ventures, Founders Circle, Owl Rock Capital, SaaStr Fund and World Innovation Lab also participated. It has now raised more than $184m altogether.
Founded in 2012, Algolia has built a software platform that allows organisations to make their websites or apps more easily searchable for users.
Clients upload the data they would like prioritised, and can tailor specific data points to relevance or factors such as the likelihood of a sale.
Algolia will channel the series C funding into strengthening and adding features to its core platform in addition to supporting company growth at home and in the Europe and Asia-Pacific regions.
Mike Micucci, chief executive of Salesforce’s e-commerce software subsidiary, Salesforce Commerce Cloud, said: “Algolia has been a great search innovator and delivers unique experiences for customers across Commerce.
“Algolia’s integration into the Commerce Cloud platform will continue to drive momentum and mutual success with our developer, partner and customer community.”
Accel led a $53m series B round for Algolia in June 2017 that included Alven Capital, Point Nine Capital, Storm Ventures and SaaStr, having also led an $18.3m round two years earlier featuring Alven Capital, Point Nine, Storm Ventures, Lead Edge Capital and various angel investors.
The company had closed its $2.8m seed round in 2014, raising the cash from Storm Ventures, Alven Capital, Point Nine, Index Ventures and 500 Startups, following its participation in accelerators run by The Family and Y Combinator.
