Isai, Capgemini join €12m round for Toucan Toco

The minority investment was made as part of the company's first ever funding round led by Balderton Capital in November 2019.

Isai and Capgemini invested through their joint investment fund Isai Cap Venture. The vehicle was launched in June 2019 with a target of €90m. It aims to take minority stakes in 15-20 technology startups that develop software products for B2B services in Europe and in the US. The fund co-invests in series-A and subsequent rounds, providing equity tickets in the €1-5m range.

Balderton had invested from its Balderton Capital VII fund, a $400m vehicle closed in November 2019 on its hard-cap. The fund focuses on early- and expansion-stage information and communications technology investments in Europe. It invests first at series-A, but 80% of the fund is dedicated to follow-on rounds for those investments. Typical equity cheques are $5-10m.

The fresh capital will allow Toucan Toco to accelerate international expansion within Europe and to the US, and focus on developing new ready-to-use applications. The company also aims to double its team in the US.

Company
Founded in 2014 and self-financed since then, Toucan Toco offers a data storytelling software, facilitating the understanding of complex data through simple and collaborative applications. The company makes business data and reports, available to all levels of a company, mainly for non-technical decision makers to consume.

The business generates €5-10m in annual revenues with 80 employees.

People
Toucan Toco – Charles Miglietti (CEO, co-founder); Baptiste Jourdan (co-founder, vice-president of Europe, head of alliances).
Balderton Capital – Bernard Liautaud (managing partner).
Capgemini Ventures – Lucia Sinapi-Thomas (managing director).

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• Topics
• France
• Technology
• Early-stage
• France
• Venture
• ISAI
• Balderton Capital