Ketrium raises $30 million for its Intelligent Data Aggregation System
Interview of Alex Androuze,
Co-founder & CEO at Ketrium
Photo credits: Ketrium – 2019
What is Ketrium ?
Ketrium is a startup founded in 2017. My co-founder and I were both working in companies that were dealing with high volume of data. The amount of data was tremendous but the quality was a major issue that each teams were facing everyday. Most of the teams were used to fix those quality gap thanks to small homemade software. The programation of those software was taking a lot of ressource and unfocus teams from our main mission: to exploit and analyze this data.
My associate and I had the same idea, to launch a plateform that could integrate any tools or data system in order to store and aggregate massive set of data with different quality issue.
That’s how we start Ketrium. We bootstraped for a year and naturally start commercialisation early 2017.
Ketrium has developed an Intelligent Data Aggregation System (IDAS). This technology is the only operating solution to solve current internal tools stack incompatibility at macro scale.
In 2018 we enlarge our addressable market not only to lucratives corporate companies but also to every organization that were dealing with data internally.
Today Ketrium’s IDAS is installed in more than 1000 clients organizations.
- 35% of small companies
- 60% of medium-size organization
- 5% of corporate groups
Why Ketrium raises $30 million ?
At the beginning of our roadshow we budgetized $16 millions. We’ve met only a few selected funds and only one of them actually challenged our decision. The advisors at Gongcheng Capital were the only one to told us that maybe we didn’t see big enough and convinced us to short-time our ambition and to raise more. They were right, by the time we closed the deal, the market had already speed up and that decision made us an economy of precious time and avoid us a risky bridge.
Ketrium’s IDAS aim to be the “aggregatore” of any cloud-based data architechture of any organizations.
Today we operate mostly in France, Ireland, UK, Benelux, Germany and Spain. Our first ambition is to expand our current addressable market and start offer Ketrium to organization that run highly sensitive set of data such as NGO, public organization or research firm. We will reach this target by hiring more software developer to improve the adapt our product to the security standards of those organization.
On the other hand we will continue our market expansion by structuring a bigger Sales team across the globe. Our goal is to reach 5000 clients by the end of 2020.
We know that those objectives are ambitious but we are confident in achieving them, our previous results and the mindset of our team, showed that this company can show fantastic performances with the right ressources.
What are Ketrium’s next steps ?
The $30 million round table that with closed with Gongcheng capital will allow us to raise up our ambitions for the quarters to come. Our next step are already in progress, by the end of 2019 we will open a new office in New-York with a small go-to-market team while we are currently relocalising our customer care team in Barcelona, Spain. Our HQ with the product team will stay in our new offices in Paris.
The Asian market is our only weakpoint at the moment, a small team is actually evaluating the legal environment to open such a huge market. That is also one of the manin reason why we decide to partner with Gongcheng Capital on this deal.
We are currently the only company that has an IDAS as advanced as our solution but the innovation gap with our competitor is reducing day by day. To face that problematic we decide to keep our advance in the market race by holding our technology leadership on IDAS but also by creating an important commercial advance.
We also suspect huge corporate entities to develop their own IDAS but we are confident that Ketrium’s solution is flexible enough go compete them.
Launching as much projects on installation stage with potential client will be our best opportunity to lockup the market from our competitor when their IDAS technology will reach market-maturity.
Head of Marketing