The French startup aims to become the leader in DataOps by accelerating international development and doubling staff over the next two years New Alpha Asset Managementis a shareholder of Saagie via its VC fund dedicated to Fintechs.
Paris, June 2, 2020 – Saagie, the French software provider, today announces raising $28 million with Crédit Mutuel Innovation, alongside New Alpha Asset Management, Seventure Partners and AG2R LA MONDIALE. Historic investors CapHorn, BNPP Développement and C.Entrepreneurs (by Cathay Innovation) also participated in the new fundraising round. The software provider will use this funding to double its 90-strong team over the next two years, strengthen its leadership on the DataOps market, and accelerate its international development.
“We aim to build a French data analysis champion that can really compete internationally. France has the ecosystem and expertise that will enable us to make this happen and this fundraising is a key milestone for our company,” stated Jérôme Trédan, CEO, Saagie.
Saagie is a software provider that orchestrates best-in-class 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 have launched their projects three times more quickly by placing data at the heart of their decision-making processes. Saagie has also made its offer 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 the French public sector,“ 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 lifecycle, from extraction to data visualization by final users.
“DataOps is the missing link between innovation and control, data labs and IT. I founded Saagie to cater for a real need within businesses today – to manage different technology platforms within a single data project more easily with a view to significantly increasing productivity,” comments Arnaud Muller, Founder and Executive Chairman of Saagie.
New investors to accelerate international development
Saagie plans to expand its presence in the United States by recruiting sales and marketing experts and to establish its DataOps leadership 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 create a new data champion.”
“The fact that Saagie works closely with many 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,” comments David Manjarres, Managing Partner ICT and Chief of Digital Technologies department 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. This is why we are supporting Saagie’s development through our investment fund ALM Innovation, dedicated to innovation and R&D projects,” stated Emmanuelle Saudeau, board member with AG2R LA MONDIALE Group in charge of Customer & Digital.
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 (Marc Oiknine).
Listed as one of the top 120 most promising startups by FrenchTech, Saagie is a software vendor that accelerates data projects deployment by orchestrating Analytics best-in-class open source and commercial technologies. Well established in France and now also present in New York and London, the company promotes DataOps practices allowing their clients to automate, monitor and govern data projects through data pipelines. Customers are then able to address numerous use cases and deliver continuous business value, whatever their infrastructures and industries.
About Crédit Mutuel Innovation
Crédit Mutuel Innovation is the venture capital arm of Crédit Mutuel Equity (€3.5 billion under management). We invest between €1 and €20 million in innovative companies in the digital, life sciences and deeptech sectors.
We support ambitious and daring entrepreneurs to develop their growth potential with our ecosystems (our 350 companies portfolio, more than 150 major groups and the best experts in their category).
Because it takes more than 5 years to turn a startup into a global leader, we invest the Group’s equity sustainably and build long-term relationships with visionary leaders. Read more about us: www.creditmutuelequity.com
About Crédit Mutuel Alliance Fédérale
Crédit Mutuel Alliance Fédérale is a top-tier banking and insurance company in France, with nearly 4,440 agencies serving 26 million customers. It offers a diversified range of services to individuals, local professionals and businesses of all sizes. One of the strongest banking groups in Europe, its shareholders’ equity reached 47.1 billion in 2019 and its TCE1 ratio is 17.3%. More information on the website: www.creditmutuel.fr
About NewAlpha Asset Management
New Alpha Asset Management is an asset manager specializing in the detection, investment, and support of rapidly growing entrepreneurial companies while offering institutional, French and international investor clients investment solutions in three areas: Active Equity Management, Absolute Performance Strategies, and Private Equity. Since 2015, New Alpha Asset Managementhas been developing a Private Equity organization in Venture Capital and Growth Equity. Within the third business, New Alpha Asset Managementsources analyze and invest in capital for fast-growing companies characterized by major technological changes: Fintech, Proptech, Health, TMT…
About Seventure Partners
With €750 million under management (net commitments) as of December 31, 2018, Seventure Partners is one of the leading European players in innovation capital. Since 1997, Seventure Partners has been investing in innovative companies with strong growth potential in two main areas: digital technologies in France and Germany, and life sciences throughout Europe as well as in Asia, Israel and North America. Seventure Partners accompanies the development of companies from the first round and even the seed stage, up to rounds of technology development capital financing, with amounts invested between €500 K and €10 M per round of financing, and up to €20 M per company. In 2016, Seventure Partners created Digital Opportunities Fund, an institutional venture capital fund designed to support innovative companies in the fields of Fintech, Retailtech and other innovative digital solutions. Seventure Partners is a subsidiary of Natixis Investment Managers. Natixis is the corporate, management and financial services bank of Groupe BPCE.
About AG2R LA MONDIALE
Specialist in social and patrimonial protection in France, AG2R LA MONDIALE insures individuals, companies and branches, to protect health, secure assets and income, protect against life’s accidents and prepare for retirement. AG2R LA MONDIALE is a partnership with equal and mutualist governance, and cultivates a unique social protection model that closely combines profitability and solidarity, performance and social commitment. Every year, the Group devotes several million euros to helping vulnerable people and supporting individual and collective initiatives.