Real-time search-as-a-service provider and French Tech Hub alumni Algolia just raised a $53 million series B round led by Accel Partners – which already led the previous series A Investment of $18.3 million in 2015. Jason Lemkin’s SaaStr fund, Jyoti Bansal, Clark Valberg and Des Traynor were also participating in this series B round, as well as existing investors Alven Capital, Point Nine Capital and Storm Ventures.
Algolia provides a hosted search Application-Program-Interface (API) that allows websites and mobile applications to increase user engagement and conversions. Basically, it can take care of the search box on your website: every time a user starts typing a letter in your search box, it will query one of Algolia’s servers and return results quickly and accurately.
You may have used Algolia’s search solution many times without knowing it: it already powers the search features of Crunchbase, Twitch, Stripe, Periscope, Medium, DigitalOcean, and many more.
With its growing customer base, its 25 billion searches every month and its annual recurring revenue doubling every year, no wonder why investors are willing to support Algolia’s aggressive expansion. Algolia already has offices in Paris, San Francisco, New-York City and Atlanta, and will use this new investment to open another office in London, get new customers, and build new features for its solution.