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Algolia

Invest in Algolia

Productivity Software

Founded: 2012

Headquarters: Palo Alto, California

algolia.com

Status

Available

Last Round Valuation

$50 Billion

Share Price

$50.00

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Summary
Valuation

About Algolia

Algolia is a leading provider of AI search solutions, serving over 17,000 businesses and 500,000 developers globally. Renowned for its user-friendly API-First platform and the fastest AI search technology, Algolia is the largest hosted search engine, trusted by businesses and developers for 1.75 trillion searches per year. Backed by a decade of innovation, expertise, and growth, Algolia continuously redefines the search landscape with its commitment to user-friendly solutions, significant scalability, and unmatched speed.

Key Facts

In e-commerce, delivering a seamless shopping experience hinges on providing fast and accurate search results. Consumers expect immediate and relevant product suggestions, making it essential for online retailers to optimize their search functionalities. This requires advanced algorithms and robust infrastructure to handle vast product inventories and diverse consumer preferences, ensuring each search leads to a satisfying and efficient shopping journey.

Algolia enhances the shopping experience by offering a powerful search and discovery platform that quickly delivers relevant, personalized search results. Its technology uses sophisticated algorithms to handle vast product inventories and dynamically rank results based on user behavior and preferences. This ensures that consumers find exactly what they're looking for in milliseconds, significantly improving the user experience. Algolia also provides tools for fine-tuning search parameters and analytics to optimize search performance, helping online retailers create a more intuitive and responsive shopping environment.

Algolia’s powerful API enables seamless integration of search functionalities into websites, mobile apps, and voice-based applications.

The Algolia search engine powers billions of queries for thousands of companies every month, delivering relevant results in under 100 milliseconds anywhere in the world.

Algolia consists of two parts: search implementation and search analytics. The implementation tools provided simplify the process for developers to develop and sustain excellent search experiences for users. Additionally, the analytics tools allow business teams to assess the impact of these experiences and refine them, aligning directly with their changing business goals.

Algolia is a search and discovery platform consisting of three core APIs: AI Search, AI Browse, and AI Recommend.

Algolia's APIs are built for speed, simplicity, and scalability, suitable for both websites and mobile applications. The Company claims that its’ APIs operate with minimal latency, delivering fast and tailored results that enhance both developer and user experiences.

Algolia Search is the Company’s flagship product that enables developers to compose a search experience in their applications.

Algolia’s search technology integrates various models and signals. Models such as Dynamic Re-Ranking and Personalization are designed to understand a company's user base. Additionally, inputs like Business Signals and Algolia's Merchandizing Studio are tailored to accommodate a user's commercial goals.

Algolia’s AI Search is capable of handling search queries for any type of content. Rather than searching directly within a company's original data source, Algolia conducts searches on the data that companies submit and host on its servers.

AI Browse leverages Algolia's technology to transform category and product listing pages into high-conversion assets for a user's website. It dynamically constructs categories, collections, and other pages in response to customer interactions with filters and navigation tabs.

AI Browse gives users control over product display options. Users can pin results for specific campaigns or modify the algorithms that determine rankings without needing to code.

It also offers transparent ranking insights. With Algolia, users can understand the specifics of category pages and adjust the visibility of results based on product attributes.

Algolia's AI Recommendation is an API designed to help businesses provide personalized recommendations to customers, enhancing user experience, boosting repeat visits, and increasing conversions.

Through the Recommend product, developers can easily create and deploy recommendation carousels featuring related products, items frequently bought together, or associated content dynamically across their websites and apps.

Algolia's analytics offer steady and dependable feedback, essential for determining if a user’s search solution is meeting their objectives. Algolia captures user activity and provides tools for tracking clicks and conversions, conducting A/B testing, and personalizing search relevance.

Algolia offers a flexible pricing model that includes a free tier to get started, with options to scale up to “pay-as-you-go" or annual plans as a user’s needs grow. Users can upgrade at any time to access more advanced features, allowing businesses of various sizes and stages to adapt the service to their specific requirements and budgets.

According to TechCrunch in July 2021, Algolia’s annual recurring revenue increased by 180% year over year.

According to Algolia investor, SaaStr, in 2021, “the company is at nine figures in ARR.”

In August 2023, Algolia ranked #46 on the Forbes 2023 Cloud 100. This award marks the second time Algolia has been ranked on this prestigious list. Algolia’s selection was fueled by its recent launch of Algolia NeuralSearch, an industry-first AI search engine that combines vector-based natural language processing with keyword search, powered by LLMs, and offered through a single API. The Forbes 2023 Cloud 100 is the definitive ranking of the best and brightest 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures.

In September 2023, Algolia announced it was named to Inc. Magazine’s annual Inc. 5000 list for the sixth consecutive year. A testament to Algolia’s innovation-fueled revenue growth, this distinction is one of many prestigious industry honors for the leader in AI Search, including the Forbes Cloud 100 and Bain & Company’s Top 10 power players, among others.

In January 2024, Algolia announced it had been named a BigCommerce Preferred Technology Partner ensuring BigCommerce’s thousands of customers can easily leverage Algolia's API-first digital commerce search capabilities. BigCommerce customers can seamlessly access and integrate Algolia through the BigCommerce App Marketplace.

In March 2024, Algolia announced that it had been ranked a leader in the ultra-competitive G2 Grid for the top E-Commerce Search Software products, which measures a company’s market presence and performance. This distinction is a major testament to the unparalleled impact of Algolia’s highly scalable AI Search solution on retailers everywhere, as G2 reviewers rank Algolia within the top five of E-commerce Search software products for large-scale businesses and the top three for enterprise retail companies.

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Summary

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Customers

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Key Investors

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Size of Market

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Market Position

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Industry

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Primary Vertical

Productivity Software

Employees

500

Mosaic Score

840

Money

760

Momentum

850

Management

760

Market

960

What is a Mosaic Score?

Key Officers

Name Work History Title Status
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current

Valuation

Valuation Over Time

chart

Last Round

Sept. 2019, Series B1

Valuation Post-Money

$400.2M

Amount Raised

$2.5M

Total Funds Raised

$75.2M

Implied Valuation

$84M

Funding Rounds

Date Round Amount Valuation Investors
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here

Competitive Landscape

Company Valued Revenue
Coinbase
San Francisco, CA
$2.8B $1.3B
Coinbase
San Francisco, CA
$2.8B $1.3B
Coinbase
San Francisco, CA
$2.8B $1.3B

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