Point Nine leads €3M funding for public tender platform Tengo

Tengo, a SaaS platform that helps businesses win more public tenders, has announced a €3 million funding round led by Point Nine. 

Founded in 2023 by Hugues Renou and Yoann Gauthier, Tengo is a software solution that centralises all public tenders. 

With AI at its core, Tengo is the only tool on the market that enables businesses to easily identify, analyse, and respond to public tenders, all in one place. 

In France, over 40,000 businesses respond to public tenders, with the government spending half a billion euros daily on these contracts. Tengo helps businesses identify relevant tenders and assists them throughout the response process, increasing their chances of success. With AI at its core, 

According to Hugues Renou, co-founder and CEO at Tengo:

"Tenders involve extensive document analysis and production, making them ideal for AI applications. That’s why we designed Tengo with AI at its heart from the start. 

This enables us to offer a unique tool that centralises all stages of the tender process, helping businesses win more contracts. AI represents a paradigm shift, and we are thrilled that Tengo is leading this innovation."

Its customers include OpenClassrooms, Citron, Theodo, and Carrefour. These initial clients have also become investors in the platform. 

Today, Tengo's first clients have already been able to detect and secure more than €35 million in public contracts.

With this funding, Tengo plans to accelerate the integration of AI into its product to make the public tender market more accessible to all businesses. It will enhance its AI-powered response assistance features, which several clients are already testing. 

Lead image: Tengo co-founders Yoann Gauthier and Hugues Renou. Photo: uncredited.