European leader expands to target new vertical markets and territories
PARIS and BOSTON, Jan. 11, 2022 /PRNewswire/ -- Opendatasoft (ODS), the European leader in data democratization platforms, today announced the successful completion of a $25 million funding round led by Demeter (through its Paris Fonds Vert fund) and involving its existing investors, including the Banque des Territoires, and two other new backers, ODYSSÉE Ventures and Eiffel Investment Group.
The new funding will enable Opendatasoft to scale its operations, accelerating international and vertical market expansion to meet growing demand for its solutions. This will include strengthening its presence in North America by expanding its existing Boston office, as well as boosting activities in Australia and across Europe, including entering new vertical markets, such as retail, services and healthcare.
In an increasingly digital world, data is becoming central to both businesses and society, but is too often only available in formats that require expert knowledge to access and understand. Opendatasoft's powerful technology overcomes this challenge, democratizing data by making it simple for everyone to share and access information, empowering them to reuse it through powerful, relevant data experiences.
This enables organizations to exploit the full potential of data to improve their operations, create new sources of income, build relationships of trust with their stakeholders and respond to the economic, societal and environmental challenges facing them.
Over the past ten years Opendatasoft has worked with public and private sector organizations, including Bloomberg, Michelin, Schneider Electric, the European Investment Bank and the cities of Vancouver, Paris, Brussels, Eindhoven and Bristol, helping its customers launch over 2,000 projects that create real value from their previously under-used data.
"We believe that the role of data is fundamentally changing, both within organizations and across society as a whole, and that it is becoming everyone's business. Thanks to Opendatasoft's platform, we can all become data people: women and men who consume and use data effortlessly through our channels of choice to enrich our knowledge and lives on a daily basis, just as we do now with other content and information," explains Jean-Marc Lazard, CEO and co-founder of Opendatasoft.
"We are very happy to support Opendatasoft and its founders as they expand their operations and grow internationally. We are convinced that sharing data effectively with large audiences for economic, environmental and transparency purposes will play a major role in the growth and success of businesses and in the efficiency of public authorities. Through this investment by our Paris Fonds Vert fund, Demeter will contribute its expertise and network to help create a world leader that supports the energy and environmental transition," said Jean-Charles Scatena, Partner, Demeter.
Legal adviser: Ava Avocats
Financial adviser: Avolta Partners
About Opendatasoft
Opendatasoft is the European leader in the democratization of data. It provides an all-in-one SaaS platform that allows all teams to quickly create compelling digital experiences with their data and share them across their internal and external ecosystems. This allows customers to accelerate digital transformation and development, positively transform their operations and establish more transparent relationships with their stakeholders.
More than 300 organizations around the world have adopted Opendatasoft's platform. They include large enterprises such as Schneider Electric, Groupe BPCE, SFR, Veolia, Enedis and Saint-Gobain, government departments and major cities such as Paris, Vancouver, Lille, Bristol, Namur and Eindhoven. Find out more at www.opendatasoft.com
About Demeter Investment Managers
Demeter IM is a major European private equity player for the energy and ecological transition. Its funds invest between €1 and €30 million to support companies in the sector at all stages of their development: innovative start-ups, fast-growing SMEs and midcaps and infrastructure projects. The Demeter IM team has 37 people based in Paris, Lyon, Bordeaux, Grenoble, Metz, Madrid and Düsseldorf, manages 1 billion euros and has made 180+ investments since 2005. Paris Fonds Vert is a growth capital fund with territorial impact created at the initiative of the City of Paris to accelerate the energy and ecological transition of large metropolises.
