Twenga, a Paris, France-based search engine for e-commerce, raised €10m ($10.9m) in funding.
Idinvest Partners made the investment.
The company intends to use the funds to reinforce its workforce (a further 50 people in Engineering, Data Science, Marketing and Sales by the end of the year), accelerate the development of its acquisition solutions and expand its presence internationally.
Founded by Bastien Duclaux and Cédric Anès in 2006, Twenga provides a shopping search engine with over 400 million products available. The platform is based on a conversion prediction engine and uses more than 40 different factors to maximise campaigns’ ROI by estimating intention to buy and closely monitoring performance from start to finish.
Its solutions are separated into 2 offers:
– Smart LEADS, which is designed to deliver high-quality leads, and
– Smart SEM, which is focussed on optimizing Paid Search budgets.
The company, which currently serves 4000 e-retailer clients, has 150 employees.