Tilkee raises €3.5 million to support its development and become European leader in legal solutions for tracking documents
This second round of funding from Omnes Capital, Evolem Start, Crédit Agricole Création, and from historic investors Axeleo Capital and Kreaxi, will allow Tilkee to establish itself in Europe – in the UK and Germany – and to accelerate the development of new applications in document tracking.
Tilkee, a start-up founded in 2013 by Sylvain Tillon and Timothée Saumet, is confirming its upward trajectory with the announcement of a second round of funding totalling €3.5 million. Omnes Capital, Evolem Start, Crédit Agricole Création, Axeleo Capital, and Kreaxi participated in this recent round. As a result, investors have provided Tilkee with the resources to strengthen its teams, to serve its major clients in the long term and to accelerate development and adoption of tracking solutions in Europe.
Emblematic figures in the Lyon tech world, Parisian investors, a banking institution: Tilkee has surrounded itself with experts in the ecosystem
Based in Lyon, Tilkee currently has 24 employees. Its MRR (monthly recurring revenue) was approaching the €100,000 mark at the end of 2017, with an 88% year-on-year increase in turnover after an impressive 300% increase in 2016.
“The fact that in 3 years Tilkee has not only raised €500,000, but has also achieved financial equilibrium has been a real asset,” explains Sylvain Tillon, co-founder of Tilkee. “Our sensible growth strategy paired with successful market penetration has reassured our partners, demonstrating the soundness of our project as we seek to accelerate our expansion outside of France.”
Tilkee’s two historic financial partners, Axeleo Capital and Kreaxi, having already invested €500,000 in 2014, are also participating in this new round. During this recent process, the start-up welcomed three new investors: Omnes Capital (lead), Evolem Start, and Crédit Agricole Création.
A leading player in venture capital in France since 1999, Omnes Capital is joining this adventure. The company’s principal, Xavier Brunaud, comments: “Tilkee’s rapid commercial acceleration with major accounts over the past 18 months, combined with sound financial management, validate our support of this vibrant and complementary team of founders.”
The company’s first two supporters, Eric Burdier and Mathieu Viallard, who head the accelerator fund Axeleo Capital, a specialised player in the support and financing of B2B tech start-ups, reiterate their confidence in its management. “Tilkee has become a mature start-up of great interest to investors in its market. Perfectly structured and well-managed, its growth strategy for Europe is clear and ambitious with good market depth. It will surely pass significant benchmarks and we are quite pleased to support Sylvain, Timothée, and their team in their development.”
Becoming THE document tracking solution
Tilkee currently offers a business performance and marketing optimisation software suite: Tilkee for Sales, Tilkee for Marketing, Tilkee for Events - all compatible with leading business software, such as Salesforce, Oracle Sales Cloud, Microsoft Dynamics, Marketo, and Hubspot. It also offers a job application tracking solution, Tilkee for Jobs, made available free of charge to job seekers.
“Sales teams understood the benefits of taking advantage of their document reading data to optimise their performance. Marketing and legal teams weren’t far behind. Now companies in France and Europe alike want to use tracking tools that have a direct impact their productivity and bottom line, but also fully respect legal constraints of European General Data Protection Regulation (GDPR). Since its founding, Tilkee has developed a set of solutions that seek to respond to these challenges. Today we have the proven expertise,” Sylvain Tillon explains.
Thanks to this round of funding, Tilkee will be able to accelerate along two avenues of growth. The first is its development in western Europe, focusing on key markets: telecoms, energy, banking/insurance, transport/logistics, IT consulting, and human resources, and the second, broadening its functional scope by tackling other important challenges, for example, reducing payment delays.
The team continues to expand, with the planned recruitment of a dozen more employees in France in the very near future and the establishment of a team of four sales representatives in Germany.