Saagie Raises $28 million to Revolutionize Data Project Deployment
The French startup aims to become the leader in DataOps by accelerating international development and doubling staff over the next two years
Paris, June 2, 2020 – Saagie, the French software provider, today announces a $28 million fundraising round with Crédit Mutuel Innovation, alongside NewAlpha Asset Management, Seventure Partners and AG2R LA MONDIALE. Historic investors Cap Horn, BNPP Développement and C.Entrepreneurs (managed by Cathay Innovation) also participated.
On the back of this funding the company aims to double its 90-strong team over the next two years, strengthen its leadership on the DataOps market, and accelerate international development.
“We aim to build a French champion in data analysis that can really compete internationally. France has the ecosystem and expertise that will enable us to make this happen and this latest round of fundraising represents a key milestone for our company,” stated Jérôme Trédan, CEO, Saagie.
In a context of widespread digital transformation, data enables businesses to anticipate and facilitate decision-making. 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 were able to launch their projects three times more quickly by placing data at the heart of their decision-making processes.
Today, all businesses worldwide require quick and agile delivery of data projects. In this way, Saagie’s offer has been made 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 public sector customers,” 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 created Saagie to cater for a real need within business – to be able to manage different technology platforms within a single data project more easily in order to increase productivity,” comments Arnaud Muller, Founder and Executive Chairman of Saagie.
New investors to accelerate international development
Saagie plans to expand its presence in the US by recruiting sales and marketing experts and establish its leadership in DataOps 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 become a new data champion.”
“The fact that Saagie works closely with 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 & Head of Digital Technologies Team 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. It’s for this reason that we support Saagie’s development through our investment fund ALM Innovation, dedicated to innovation and R&D projects,” stated Emmanuelle Saudeau, member of AG2R LA MONDIALE’s Group Management Committee in charge of the Digital & Customer Department.
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 (Mark Oiknine).
Listed as one of the top 120 most promising startups by FrenchTech, Saagie is a software provider 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 to enable customers to automate, monitor and govern data projects through data pipelines. Customers are then able to address numerous use cases and deliver continuous business value, regardless of their infrastructure or sector.
About Crédit Mutuel Innovation
Crédit Mutuel Innovation is the evergreen venture capital entity of Crédit Mutuel Equity (€3.5 billion in capital). We invest €1-20M in life science, digital and deeptech companies from seed to growth stages.
We support bold and ambitious entrepreneurs to develop their growth potential with our worldwide ecosystems (our 350+ portfolio companies, our abroad subsidiaries, 150+ largest global corporates, and the best-in-class experts).
Because it takes more than 5 years to turn a startup into a global leader, we invest our own equity and ensure durable partnerships with visionary leaders. Read more about us: www.creditmutuelequity.com/en/
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
NewAlpha 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, NewAlpha has been developing a Private Equity organization in Venture Capital and Growth Equity. Within the third business, NewAlpha sources analyze and invest in capital for fast-growing companies characterized by major technological changes: Fintech, Proptech, Health, TMT, etc.
About Seventure Partners
With 750 million euros under management (net commitments) as of December 31, 2018, Seventure Partners is one of Europe’s leading players in innovation capital. Since 1997, Seventure Partners has been investing in innovative companies with high growth potential in two main areas of activity: digital technologies in France and Germany, and life sciences throughout Europe, Asia, Israel, and North America. Seventure Partners supports the development of companies from the initial financing stage and even as start-ups, to financing development-technology capital requirements, with investments ranging from €500K to 10 million euros per financing round, and up to 20 million euros per company. In 2016, Seventure Partners created Digital Opportunities Fund, an institutional venture-capital fund, to support innovative companies in Fintech, Retailtech, and Other innovative digital solutions. Seventure Partners is a subsidiary of Natixis Investment Managers. Natixis is the financial services, management and financing bank of the BPCE Group.
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.