Leading Fast Data software vendor Intersec announces $9 Million in funding
Published on: 30/10/2018
Paris, October 30th, 2018 - Intersec, leading provider of fast data solutions that enable companies to use the data they collect to enhance their services, announced today a new financing of $9 million: $2.5 million from Turenne Capital Group (Turenne Capital and Innovacom, an Intersec investor since 2011) alongside Intersec executives, CM-CIC Innovation, Omnes Capital and Highland Capital Europe.
Founded in 2004, Intersec develops business solutions based on the massive amounts of data its software platform collects, stores, processes, aggregates and analyzes in real time from multiple sources. New use cases using location information enable operators and organizations to enhance their user experience and deliver high value-added services to their customers. Due to its worldwide presence, Intersec processes the data of about 630 million mobile subscribers.
In 2017, its order book grew by 60%, mainly thanks to the development of these new, mobile data-based solutions that won over customers in new regions such as Canada or Singapore.
Based in Paris, Intersec has grown immensely under the leadership of CEO Yann Chevalier and CTO Jean-Marc Coic. The Big Data Analytics market accounts for $150 billion in worldwide revenue and the annual growth rate is estimated at 12 percent, which presents exciting opportunities for Intersec’s future.
This operation will act as a catalyst for Intersec’s international expansion, while financing the deployment of its SaaS offering. By supporting the growth of Intersec alongside its executives, Turenne Capital deploys the Innovacom 6 fund strategy, managed by Innovacom, a major financial investor since 2011, as well as its FCPI Techno Numérique & Santé and its FIP PME West 2016.
“This fundraising is good news for all of us,” said Yann Chevalier, Intersec CEO. “It reflects the confidence of our current shareholders, who renewed their commitment; and it allows us to welcome Turenne Capital as an investor. Turenne Capital understood our challenges, our positioning and our growth strategy.”
“We are proud to join the Intersec adventure on this new round of financing and support its talented teams in deploying their new solutions,” said Charles-Henri Booter, Investment Director at Turenne Capital. “Intersec, a recognized leader in Big & Fast Data, is entering a new stage in its development to establish its position abroad while maintaining its technological competitive edge.”
Turenne Capital – Charles-Henri Booter Innovacom – Jérôme Faul
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