ChapsVision accelerates AI expansion with Sinequa acquisition and completes a 3rd fundraising
ChapsVision announces the acquisition of Sinequa, a global leader in AI-powered Enterprise Search, and raises €85 million from its existing investors (Tikehau Capital, alternative asset manager, Qualium Investissement, Bpifrance, GENEO Capital) joined by new investor Jolt Capital.
Suresnes, November 18th, 2024 –
ChapsVision, a European leader in AI-enriched data processing, announces the acquisition of Sinequa, the world leader in enterprise search engines augmented by Retrieval-Augmented Generation (RAG).
Sinequa, widely recognized by Gartner and Forrester, has experienced significant growth fueled by increasing demand for Generative AI. Its prestigious global client portfolio includes Pfizer, AstraZeneca, TotalEnergies, Alstom, Airbus, and NASA.
“We are delighted to welcome Sinequa to ChapsVision,” says Olivier Dellenbach, Founding CEO of ChapsVision. “Alexandre Bilger and his teams have developed a unique, market leading, generative AI-augmented search technology used by the world’s largest companies for the most demanding use cases. This acquisition perfectly complements our ArgonOS platform and positions us to offer unparalleled solutions for large-scale data processing.”
ChapsVision aims to leverage Sinequa’s technology to help organizations accelerate the adoption of AI and generative AI, transitioning from experimental to fully operational solutions within secure environments. This acquisition will enrich ChapsVision’s flagship ArgonOS platform by:
• Expanding its data collection capabilities with Sinequa’s extensive connector library.
• Enhancing its search functionality with Sinequa’s state-of-the-art search and RAG technology.
Beyond technological advancements, the acquisition positions ChapsVision to drive international growth, particularly in Europe and North America, and penetrate high-potential markets such as pharmaceuticals, manufacturing, and finance.
Jean Ferré, CEO of Sinequa says: “Joining ChapsVision opens exciting new opportunities for our team and enhances the value we bring to our customers. This partnership, driven by an ambitious and visionary entrepreneur, uniquely combines financial strength, industrial expertise, and a commitment to European technological sovereignty”.
Alexandre Bilger, Chief Architect Officer, adds: “Joining ChapsVision and contributing to its strong growth is a tremendous opportunity for Sinequa teams and for me. We are pleased to offer all ChapsVision customers our cognitive search solution and address their complex data management challenges. With its striking power, ChapsVision will allow us to strengthen our investments to continue to improve our quality of service and our product and to further accelerate our international development.”
The acquisition of Sinequa is financed through contributions in kind as well as a third fundraising round of €85 million, which will also allow ChapsVision to continue its international expansion. The incumbent shareholders of ChapsVision – Tikehau Capital, Bpifrance, Qualium Investissement, GENEO Capital – and Jolt Capital, a new investor, are financing the operation.
Olivier Dellenbach, CEO & Founder of ChapsVision adds: “I am deeply grateful to our historical partners for their renewed trust and delighted to welcome Jolt Capital to our project to create a European giant in the field of data processing and AI. This new funding marks the beginning of a new growth phase for ChapsVision, especially internationally.”
“Over the past 5 years, Sinequa has confirmed its position as a global technology leader, won many very large accounts including in the USA, and has initiated the verticalization of its offer, with a particular focus on manufacturing, pharmaceutical and finance. Now part of Chapsvision, Sinequa’s offer will be able to deploy wider and deeper in those industries. We are delighted to have helped Sinequa grow during this period, and thrilled by this deal with Chapsvision that will certainly
reinforce and scale further this superb journey in French territory.” comments Antoine Trannoy, Managing Partner at Jolt Capital.
The advisors to the transaction were :
ChapsVision
- Due diligence: E&Y (Legal), Grant Thornton (Finance, Social & Tax)
- Legal counsel : Valther Avocats
- Strategy consulting: Altman Solon
- Tax advisory: Arsène Taxand
- Financial consulting: Accuracy
ChapsVision’s legacy investors: Qualium Investissement, Tikehau, Bpifrance and GENEO Capital
- Legal counsel: Goodwin Law, Wilkie Farr & Gallagher, Proskauer Rose LLP
Shareholders of Sinequa (including Jolt Capital)
- M&A Advisory Bank: Clipperton
- Legal counsel: Joffe & Associates
About ChapsVision
As a specialist in sovereign data processing, ChapsVision enables companies and administrations to successfully complete their digital transformation and create value through a software suite centered around its massive and heterogeneous data operating system. Through massive R&D investments in big data processing, complemented by a sustained strategy of international acquisitions and development, ChapsVision quickly assembled a cohesive group of two branches addressing data-intensive sectors: one for businesses and the other for government organizations. Created in 2019, ChapsVision has nearly 1,000 employees, 1,000 major clients, and aims for a turnover of more than €200 million in 2024.
More information on: www.chapsvision.fr/ and www.chapsvision-cybergov.fr/
Press contact: Delphine Buffard, +33 7 60 49 60 66, dbuffard@chapsvision.com
About Sinequa
Sinequa transforms how work gets done. Sinequa’s Assistants augment your company by augmenting employees with a knowledgeable, accurate, secure work partner so they are more effective, more informed, more productive, and less stressed. Best of all, Sinequa Assistants streamline workflows and automatically navigate the chaotic enterprise information landscape, so that employees can skip the grind and focus on doing the kind of work that makes the most impact. Sinequa’s Assistants achieve this by combining the power of comprehensive enterprise search with the ease of generative AI in a configurable and easily managed Assistant framework, for an accurate, traceable, and fully secure conversational experience. Deploy an out-of-the-box Assistant or configure a tailored experience and specialized workflow to augment your people and your company.
More information on: https://www.sinequa.com/
Media Contacts: Resonance for Sinequa, Sinequa@Resonancecrowd.com
About Jolt Capital
Jolt Capital is the leading European private equity firm specialized in growth deeptech investment. Since 2011, Jolt Capital has been investing in European B2B companies with revenues between €10M and €50M. Jolt Capital’s team is composed solely of experienced investors and managers of high-tech companies. Its proprietary AI platform, Jolt.Ninja, enables enriched sourcing, accelerated due diligence and automatic detection of investment or acquisition targets. Jolt Capital is headquartered in Paris, France, with offices throughout Europe, and new 2024 locations in Montreal and Tokyo.
More information on: www.jolt-capital.com
Press contact: Servane Taslé, 06 66 58 84 28 servane@steeleandholt.com