Paris-Based SaaS Startup Tengo Secures €3 Million in Funding
- Paris-based SaaS company Tengo has raised €3 million from Point Nine to enhance its AI-driven platform for managing public tenders.
- Tengo automates the discovery and response to public tenders, eliminating the need for external services for generating application documents.
The Paris-based software-as-a-service (SaaS) company Tengo has secured a €3 million funding round led by Point Nine. Created within the startup studio Hexa, Tengo uses AI to discover, assess, and reply to public tenders, similar to Govly in the U.S.
Per a report, the funding will be used to accelerate AI integration and expand Tengo's presence in the French market. The team plans to enhance the platform's capabilities to make public tenders more accessible and manageable for businesses of all sizes.
Tengo, founded last year, is still in its early stages and currently has a client base that includes OpenClassrooms, Citron, Thedo, and Carrefour Professional, among others.
“Tenders for training courses are published every day. However, they (OpenClassrooms) are only interested in training courses that are 100% online,” said Tengo co-founder and CEO Hugues Renou.
Tengo serves as a knowledge hub for all the tasks related to public tenders. It scans various public portals to find new tenders matching those criteria, avoiding companies spending their time scanning through lengthy documents.
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With built-in AI integrations, Tengo generates application documents within the platform, eliminating the need for external services like ChatGPT.
Since 2008, Point Nine has invested in 10-12 seed-stage startups yearly. It invested in BlueLayer from Germany this year in a seed funding round. BlueLayer provides an end-to-end software platform for carbon project developers.
Edited by Harshajit Sarmah
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