The Parisian tech startup, Magency, known for their mobile solutions for corporate events and training, raises €3M ($3.3M) in Series A funding led by Alliance Entreprendre and Sigma Gestion to continue international expansion and research & development.
“This funding will allow us to accelerate our product development, as well as achieve our goal of becoming the leading mobile solution provider for events and training,” said Vincent Bruneau, Founder and CEO of Magency Digital.
Magency Digital currently staffs 50 employees in Paris, New York and Tokyo, with a customer base of 80 international companies — over 30 percent Fortune 500 companies. Magency Digital has achieved 200 percent growth each year since inception in 2011 with a turnover of €4M ($5M) in 2014 (vs. $2.6M in 2013).
“[Magency Digital has] attracted big accounts through their innovation and the quality of their team,” said Mathieu Rouxel, Director of Investments at Alliance Entreprendre. “Previously auto-financed, Magency Digital now has all the advantages to continue their growth in the corporate events and training industry and accelerate their conquest of international clients.”
“With additional funds our plan is to strengthen R&D by leveraging technology like big data, machine learning and mesh networking, as well as integrate our solutions into existing enterprise software ecosystems. We aim to innovate to increase productivity of corporate training, seminars and meetings.”
Magency Digital currently offers customized apps for the event and training industries with numerous activities focused on networking, autonomy, interaction, and collaborative learning. Their offer also includes network infrastructure, iPad rental, onsite support and IT integration.
What also makes Magency Digital unique is the experience of their founder,
Bruneau, a former magician and tech illusionist, who has incorporated magic throughout the company, such as with sales and marketing initiatives.
Magic has also always been a large inspiration for product development. With their technology, the company helps speakers, trainers, facilitators, and organizers achieve the same outcomes as a magician, including the ability to capture attention, surprise, and engage their audience.
Their unique approach is well-received by clients. In four years, Magency Digital has become a global leader in the digital events and training industry, hosting over 500 events on five continents, in 29 different countries with 20 different languages. Magency Digital is a trusted partner of Procter & Gamble, Nissan, Airbus, LVMH, Chevrolet, Novartis, and more.
“The global events and meeting industry is large at $565 billion and the training industry as well at $135 billion. Additionally corporations in these industries are increasingly relying on mobile solutions for more productivity,” said Bruneau. “We are thrilled to be at the forefront of this transformation and hope to continue building the next generation of digital engagement tools.”
About Alliance Entreprendre
Since 1995, Alliance Entreprendre manages investment funds oriented in taking participations in French companies through transmission and capital development in all business sectors. Alliance Entreprendre currently manages a Venture Capital Company, four Professional Equity Funds and 12 Local Investment Funds, representing total active assets under management of approximately $325 million. Composed of 15 professionals, the Alliance Entreprendre team has been investing more than $270 million since inception in almost 150 operations. For more: www.allianceentreprendre.com
About Sigma Gestion
Sigma Gestion is a management company approved by the AMF. They put their expertise in the French SME growth through investment vehicles dedicated to individuals. It manages nearly $217 million of investments and has succeeded over 150 operations in SME capital. Its operations cover all sectors and all phases of development from creation, to development and transfer of businesses. For more: www.sigmagestion.com