Elium, the collaborative platform for knowledge-based organisations, announces the closing of a €4 million funding round. The Series A is led by Serena Capital in collaboration with S.R.I.W, a historical investor who has renewed its trust in Elium (formerly known as Knowledge Plaza).
Elium aims to become a leader in the “knowledge sharing platforms” market, a new category of Enterprise Social Networks that complement teams-centred productivity, with platforms such as Slack and Facebook Workplace.
The market size was around $4.5 billion in 2016 according to IDC (considered a conservative view) and estimated to double within 5 years. Artificial intelligence coming into the enterprise will be able to take full advantage of this inherently shareable and critical knowledge.
From 2012 onwards, Elium relied on a 100% SaaS offer (based on a subscription fee). The company gradually conquered a few large French actors who took advantage of its cross-platform architecture, allowing advanced re-use of existing knowledge as well as very dynamic capture of new knowledge.
This strength attracts not only companies whose competitiveness rests on sound knowledge management, but also organizations facing major processes transformation.
“With Elium, these companies see the impact of information flows increase tenfold”, argues CEO Antoine Perdaens.
Today, Louvain-La-Neuve based company holds a stable market position thanks to international projects such as the ones carried out with Capgemini Consulting, Lafarge Holcim, MSL Group, the International Committee of the Red Cross, BNP Paribas, and Loréal.
European companies such as Touring Club Switzerland, Bouygues, InExtenso, EDF, Derbigum, SNCF have also been acquired and retained. These customers have enabled Elium to clearly stand out from the competition by demonstrating that its solution can grow on large corporate networks by avoiding the frictions encountered by traditional document management systems, paralyzed by governance constraints affecting individual files.
Deployment in Europe
The new financing round will provide Elium with the opportunity to grow from 20 to 40 employees by the end of 2018, to increase the platform connectors, to have a UX/AI/data applied research structure, and to accelerate the platform deployment in Europe on three strategic vertical markets: service companies, transforming industries (electricity, transport, engineering) as well as administrations and NGOs.
Elium has found a strong partner in Serena Capital. The operational support offered by the investment fund is already bearing fruit on commercial and marketing structuring.
For Antoine Perdaens, CEO of Elium, "Serena is a calm and responsive force. They have helped us to place even greater emphasis on our core markets, leverage our internal talents and give us key advice to increase our revenues."
Marc Fournier, Serena Capital partner: "We were seduced not only by their offer success but also by the team composition, it was a decisive factor in our investment choice. We are convinced that Elium has its place among the world's key actors, the relevance of their architecture proving critical and inevitable in the face of the current digital transformation."