YZR, a Paris, France-based startup that uses AI to normalize data, raised $12m in Series A funding.
The round was co-led by Nauta Capital and Orange Ventures.
The company intends to use the funds to scale-up its operations, improve its product, specifically in health and consumer data, make strategic key hires, and to widen its global reach by penetrating both European and US markets, with plans to set up a US subsidiary.
YZR have created a no-code, plug-and-play, data preparation platform that makes it easier, better, and faster to normalise and prepare data for downstream ingestion. Their AI-powered standardisation, labelling, and context-understanding software has in-depth sector specific semantic knowledge to quickly enable business units to draw value from it.
Despite the widespread impact of the COVID-19 crisis, the start-up has managed to become one of the most promising French start-ups and in 2020, they were recipients of the prestigious Galion Booster award.
Founded in September 2019 by Sébastien Garcin, President, and Jean-Philippe Poisson, General Manager, YZR is a smart data normalization platform, delivered as a SaaS (Software as a Service). Thanks to AI, the platform aims to simplify the work of 54 Million data workers in the world who are currently manually standardizing data using spreadsheets. YZR thus provides its solution to retail and e-commerce leaders such as Monoprix or La Redoute to automatically standardize heterogeneous product data from their suppliers.
YZR previously raised more than $2m in seed funding in 2021 thanks to major French tech investors such as Frédéric Mazzella (Blablacar), Laurent Ritter (Voodoo) and Jean-Baptiste Rudelle (Critéo). Since then, they have onboarded several notable brands such as Monoprix, Clear Channel, Aramis Auto and BNP Paribas.
FinSMEs
18/03/2022