Botify Raises $55 Million in Series C Funding To Help Brands Unlock Revenue Growth Through Organic Search
Funding Led by InfraVia Growth Targets $47.5+ Billion Organic Search Market with a 20% CAGR
Botify, a leading enterprise software company for performance-driven organic search, today announced that it has closed $55 million USD in Series C funding led by InfraVia Growth, with participation from Bpifrance through its Large Venture fund, as well as existing investors Eurazeo and Ventech. Nicolas Herschtel from InfraVia and Antoine Izsak from Bpifrance Large Venture will join Botify’s Board of Directors.
This investment round will help Botify scale its solution to meet increased market demand and reflects the strategic role of organic search for long-term, profitable growth. In 2020, businesses spent $47.5 billion on SEO related products and services. The SEO market is projected to grow at a 20% CAGR by 2025.
“The investment comes on the heels of a year during which online activity accelerated. The pandemic forced brands across all industries to quickly reassess their digital marketing investments or speed up their digital transformations. With the ability to drive sustainable traffic and revenue – and deliver a high ROI, organic search marketing has become a core strategy helping enterprise brands navigate this new world,” said Adrien Menard, Co-Founder and CEO of Botify. “The additional funding will assure we can fuel our product innovation, notably in organic search automation, grow our global presence, specifically in APAC, and support our partner ecosystem development.”
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Since its founding in 2012, Botify has been at the forefront of enterprise SEO, empowering leading companies such as Expedia, L’Oréal, The New York Times, Groupon, Marriott, Conde Nast, Crate & Barrel, Fnac Darty, Vestiaire Collective, and Farfetch, with the most robust set of analytics to understand and improve the discoverability of their websites by search engines, in turn driving traffic and conversions from intent-based consumers. Today, Botify not only delivers insights across the entire search funnel, but also AI-powered recommendations and the ability to automate time- and resource-intensive SEO implementations that drive real business outcomes.
Nicolas Herschtel, Partner at InfraVia, will join Botify’s Board of Directors. He commented, “We are very excited to contribute to Botify’s high growth and innovation and help them deliver against an ambitious product roadmap. We have been extremely impressed with the founders’ vision for the future of search and we are confident that with their unique data model and focus on automation, Botify is well positioned to build upon the market momentum and continue to transform the SEO market.”
After getting its start in Europe, Botify entered the US market in 2016 which now accounts for more than 60% of the company’s revenue. Building upon the success, Botify is establishing and growing operations in Asia Pacific.
“We have been impressed by Botify’s rapid growth and the fact that they are enabling some of the largest and most sophisticated websites in the world to drive measurable revenue growth through organic search. The quality and scalability of the Botify platform sets it apart as a leader within the search landscape. Bpifrance prides itself to back such an innovative company in a fast growing and dynamic market,” said Antoine Izsak, Investment Director at Bpifrance Large Venture, who also joins Botify’s Board of Directors.
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Chloe Giard, Investment Director at Eurazeo, also commented, “It’s been incredible to watch Botify’s evolution since our first investment in 2016. Not only have they been smart about their product innovation, leveraging the power of AI and machine learning to create even more value and efficiency for their customers, but the strategic partnerships they’ve forged with the likes of Google Cloud and Salesforce Commerce Cloud are indicative of how integral search has become in today’s digital strategies. We’re thrilled to continue supporting Botify on its journey to redefine search marketing.”
“As an early believer and Series A investor, Ventech has had the chance to support the Botify team in its development in the US from day one,” remarked Ventech General Partner Claire Houry. “With organic search marketing stepping into the driver’s seat in the race between enterprise brands for category domination, the founders’ vision for the future of search combined with analytic superiority and automation affirm our confidence in Botify’s ability to be THE global leader in search marketing.”