Accel leads $53m round for Algolia

Other investors in the round included Alven Capital, Point Nine Capital, Storm Ventures and a number of business angels.

This latest round brings the total raised by the startup to around $74.22m, with four funding rounds to date.

Algolia intends to use the funds to expand its activity in the UK, Europe and Asia. The business recently increased its presence in the US, with new offices in San Francisco, New York and Atlanta. A new office should also be opened in London in the near future, the company said in a statement.

Previous funding
Algolia has so far raised a total of $74.22m through four funding rounds. It first raised a €1.2m seed round in 2013, followed by a $1.3m seed round the following year led by Storm Ventures. In 2015, Accel led a $18.3m series-A round, which included Storm Ventures, Point Nine Capital, Lead Edge Capital, Alven Capital and several business angels.

Company
Established in 2012, Algolia has developed a cloud-based search engine designed to be integrated into websites and mobile applications. Its clients include Twitter's live-streaming app Periscope, Amazon's Twitch and luxury brand LVMH. The platform generates around 25 billion searches across 8,000 sites and apps per month.

Algolia is active in Europe and the US. Previously based in Saint-Ouen, near Paris, Algolia has since moved its headquarters to San Francisco. 

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• Topics
• Expansion
• France
• Technology
• France
• United States
• Venture
• Alven Capital
• Accel Ventures