Ekimetrics, a European specialist in data science solutions, has secured fresh investment from two minority shareholders: Tikehau Capital – via its growth capital fund, which was recently awarded the “Relance” label – and Bpifrance – via its MidCap fund.
The founders of Ekimetrics, who will retain a controlling stake, hope to invest the combined total of EUR24 million in fuelling the company’s international growth, enhancing its technological assets, and setting a new standard for the sector worldwide.
Ekimetrics provides industrialised corporate data science solutions to meet its clients’ most pressing business needs. Specifically, it uses data to maximise companies’ return on investment on marketing expenses and optimise sales, the customer experience, and the entire operational model.
Ekimetrics targets both larger and intermediate-sized enterprises and major organisations across all industries, seeking to help them build their data capital, and use data science and artificial intelligence (AI) to further their business in a practical, sustainable and ethical way.
Founded in 2006, Ekimetrics has enjoyed strong organic growth since launch of around 30 per cent per year, self-funding projects in over 50 countries. The company has a presence in Paris, London, New York and Hong Kong and now has one of the largest independent teams in Europe, comprising over 240 data scientists.
“After 14 years of experience, we have a clear vision and firm beliefs about the factors that ensure data projects have a genuine impact and create new competitive advantages,” comments Jean-Baptiste Bouzige, founder and CEO of Ekimetrics. “This investment will allow us to go even further and faster in affirming our unique positioning at the intersection of business and data science.”
Ekimetrics’ approach involving off-the-shelf modules has led to its strong growth, occupying a middle ground between players offering “tailor-made” solutions – which have low levels of standardisation and so struggle to secure successes for the company at large – and powerful platforms that lack the flexibility to overcome time-to-market constraints. Ekimetrics helps its clients avoid the main pitfalls of data projects, for which high failure rates (over 75%) and lengthy implementation phases remain the norm. Ekimetrics’ long-standing, close relationships with its clients, including major international firms, has demonstrated the market need for this approach
Fresh capital to strengthen the company’s positioning, enhance its services and fuel global expansion
This fresh capital will enable Ekimetrics to speed up the rollout of its Core Data Science Platform, expand its library of off-the-shelf business modules, enhance its technological and methodological assets, and so provide a more innovative, agile service.
It will also serve as a catalyst for the growth of its subsidiaries abroad, including the United States and China.
Emmanuel Laillier, Head of Private Equity at Tikehau Capital, says: “Ekimetrics is a highly innovative company that has carved out a niche for itself in a rapid-growth market. Its solutions have garnered recognition from a whole host of clients and the company enjoys excellent prospects for development. We are delighted to be able to contribute to its growth and provide some of the resources that will ensure it achieves its goals. We plan to draw on our investment team’s wealth of digital and technological expertise, as well as our international network of offices in America, Europe and Asia, to assist Ekimetrics as it seeks to accelerate the expansion of its business activities and ultimately position itself as the global leader in the field of AI.”
“We were impressed and won over by the sheer quality of the vision, technology and teams at Ekimetrics, as well as its trajectory so far, and we are pleased to be helping the management team to implement their growth strategy,” adds Luc Heinrich, Managing Director of the Bpifrance MidCap fund.
“This partnership with Tikehau Capital and Bpifrance creates an invaluable asset, as it will provide added impetus for our international expansion while also confirming our status as France’s AI champion,” notes Quentin Michard, who founded Ekimetrics and is now responsible for its development strategy.