New investors that participated in the round include SaaStr, Intercom CSO Des Traynor, InVision CEO Clark Valberg, and AppDynamics chairman Jyoti Bansal alongside existing investors Alven Capital, Point Nine Capital, and Storm Ventures.
Algolia provides tools on a SaaS model to help businesses create more intuitive search functions for their users. According to the company, it has handled one trillion API calls. It plans to invest the new funds in further developing its search tools.
“Google has set high expectations for consumer-grade search in the eyes of users, expectations that are impossible to meet even for digital-first businesses,” said CEO Nicolas Dessaigne. “Algolia is the first company that makes it possible for any product team to create fast, relevant and intuitive search for their users.”
The company, now headquartered in San Francisco, previously raised $18.3 million in a Series A in 2015 led by Accel. “Algolia has become the go-to option for search,” said Accel partner, Nate Niparko.