Tengo, a Paris, France-based SaaS platform that helps businesses win more public tenders, raised €3 million in funding.
Investors
The round was led by Point Nine, with additional support from prominent business angels.
Point Nine is an early-stage venture capital firm focused on SaaS, enterprise software, and B2B marketplaces. The firm primarily invests at the seed stage, occasionally participating in pre-seed, "Seed II", or early Series A rounds. Their typical investment ranges from €0.5 to 5 million.
Tengo Use of Funds
The company plans to use the funding to accelerate the integration of AI into its product to make the public tender market more accessible to all businesses. It will enhance its AI-powered response assistance features, which several clients are already testing.
About Tengo
Founded by Hugues Renou and Yoann Gauthier, Tengo provides an AI-driven SaaS platform design to simplify and centralize the entire tendering process. Its platform specializes in helping businesses effectively navigate and win public tenders through its AI-powered solutions. Several initial clients, such as OpenClassrooms, Citron, Theodo, and Carrefour, have not only used Tengo's services but have also invested in the platform.
Funding Details
Company: Tengo SAS
Raised: €3.0M
Round: Unknown
Funding Month: June 2024
Lead Investors: Point Nine
Additional Investors: Business Angels
Company Website: https://www.tengo.cc/
Software Category: Response Support
Source: https://tech.eu/2024/06/25/point-nine-leads-eur3m-funding-for-public-tender-platform-tengo/