Fundraising, Sales, Acquisitions, Crowdfunding... ESSEC Entrepreneurs Are on High Demand

9-figure fundraising, acquisition sprees, scale-ups taking on the international market... Here’s an overview of the biggest deals completed by ESSEC entrepreneurs these past few weeks.

Fundraising

Co-founded by Guillaume Alary-Raisonnier (M08), the corporate education platform 360Learning raised $200m to accelerate its development across the Atlantic, where it already generates 10% of its turnover. At the time of writing, 1500 companies are already using its services worldwide, including LVMH and Toyota.

Founded by Alexis Garavaryan (BBA 08), the video game publisher Kepler Interactive raised $120m in China. It will use the funds to open operations centres in London and Singapore, hire staff in 10 countries, add a mobile gaming range to its existing catalogue for PC and consoles, and open a studio to produce animated series adaptations of Kepler Interactive’s games.  

Vestiaire Collective, the French unicorn specialising in the online sale of second-hand luxury fashions, raised €178m to reach a total capitalization of €1.45bn. The platform, which is already recording 100% growth in the United States and 150% in Asia between the first halves of 2020 and 2021, plans to use the funds to penetrate new markets. Working behind the scenes in this transaction that was front page news in the press was: Sylvain Andries (E01), CFO, and Clara Chappaz (E12), CBO when the news was announced, just before she was appointed to lead La French Tech. 

Founded by Eric Martineau-Fortin (M97), the investment platform White Star Capital raised $360m to launch a third fund specialising in emerging technologies (artificial intelligence, e-health, fintech, mobility, etc.) and to open an office in Singapore.

Founded by Daniel Einhorn (E08), the veterinary practice network Sevetys (formerly VetDev) raised €109m to double its size and reach the 100-practice threshold. Its aim? To generate €60m in turnover with 300 to 350 practices on the books within the next two to three years.

Co-founded in Singapore by Fengru Lin (EXEC MBA 20) and Max Rye (EXEC MBA 20), TurtleTree Labs raised $30m to market its cow’s milk produced in a lab without ever having to touch an udder, thanks to a revolutionary cell reproduction technique. The funds will enable the start-up to build a production and R&D facility in California and expand its team of researchers to examine more applications for its technology. 

Co-founded by Henri Bong (E07) and Davy Lassagne (E96), UnaBiz, the leader in the Internet of Things in the Asia-Pacific region, raised €25m. Specialising in smart services and buildings, UnaBiz already has a presence in 28 countries and manages 1.4 million smart objects. It would now like to open offices in Japan, Southeast Asia, and Europe; develop its multi-technology platform, UnaConnect; and consolidate its work in asset traceability for logistics players, water and energy providers, and infrastructure managers. (To check out the ESSEC Alumni article, click here)

Co-founded by Eliane Lugassy (E13), Witco raised $14m for its all-in-one app for more serviced and collaborative spaces: dedicated newsfeeds, online room bookings, incident report platform, chat and directory for employees using the space, digital concierge, the collection of data on how the space is used, and more. 

Co-founded in London by Sandrine Zhang Ferron (E07) and Leslie Fournier (E07), Vinterior raised €9.3. This marketplace for vintage and designer furniture and interior decor pieces has recorded annual growth of 120% since it was founded, and a turnover of €170m in 2020. Already present in 30 countries, it is seeking to consolidate its presence in Europe and bolster its staff.

Co-founded by Isabelle Teboul Cohen (E10) and Ariel Boukobza (M10), Myre, the collaborative platform that provides and optimises the real-time management of property asset data, raised €7m. Already employed in around a dozen countries, the internet start-up’s ambition is to become the leading pan-European solution in its field. To get there, it plans to double its workforce, accelerate its growth in sales, expand its European operations, and target a new client profile: property managers for large companies.

Romain Palmieri (E17) and Dorian Perron (E17) raised €6m for Groover, the platform that connects musicians with media outlets, and that now boasts more than 70,000 artists from 100 countries, and annual growth of 75%. Groover’s aim? To grow its staff and open offices in the United States.

Co-founded by Karena Belin (E98) in Hong Kong, the investment platform AngelHub raised €3m to accelerate its growth in the tech sector – and the blockchain, in particular – and launch its international expansion. 

Co-founded by Jeanne Depond (E12), Lyanne raised €1.2m for its solution that analyses insurance contracts (home and contents, car, borrower, debit card, etc.) to help you optimise your cover and support you when making a claim. The aim? To level the playing field between insurers and policyholders and bring some transparency to the sector. 

Sales, Mergers, Acquisitions

Co-founded by Vincent Nallatamby (E16), Tempow has been acquired by the industry giant, Google, for a sum of between €10m and €20m, according to French newspaper Les Échos. It comes as a kind of recognition for this software solution that overcomes compatibility issues between different pieces of audio equipment, so that users can stream music through any Bluetooth speaker from a single interface. 

Co-founded by Alban Denoyel (E08) in the USA, Sketchfab, the online platform for posting and buying 3D content, is now part of Epic Games Group, the leading video game developer and publisher known primarily for Fortnite. This is a fine achievement after eight years of growth that saw the website reach more than 2 million monthly views, build a community of 6 million users, and forge partnerships with Google, Apple, Facebook, Amazon, and Microsoft. (To check out the ESSEC Alumni article click here)

Led by Alexandre Eruimy (E10), PrestaShop merged with MBE Worldwide to become the leading e-commerce platform that helps companies create their own online store and use digital technology to easily accelerate their growth. Together, the two websites already have more than 1 million customers worldwide.

Co-founded by Justin Bignon (E00), Batibig made 14 acquisitions in 18 months. The building maintenance and renovation company already boasts 465 staff members and completes more than 80,000 jobs every year, and it is now consolidating its growth dynamic with a turnover that should reach €75m in 2021, compared to €50m in 2019, signifying 50% growth in just two years. This strategy will enable Batibig to cement its positioning in its existing fields, diversify its range of services through the acquisition of companies operating in the electricity and difficult access sectors, and move into a new region thanks to a structural transaction in Lyon. 

Co-founded by Sylvain Gasc (BBA 15), Hivency, the platform that brings brands and influencers together, joined Skeepers Group, which specialises in influence marketing and customer experience. This represents a move up to the next level for the start-up, which already boasts more than 150,000 micro-influencers and 250,000 nano-influencers on its books in 140 countries, and which serves 1000 brands whose number includes names like L’Oréal, Cdiscount and TF1.

Founded by Sylvain Dadé (E97), Sowine is a marketing and communications agency specialising in wine. It has now opened a subsidiary in New York, one year after opening its first branch in London. This transatlantic expansion is yet more proof of the esteem in which French winemaking expertise is held around the world.

Crowdfunding Campaigns

Co-founded by Jean Desportes (E06) and Grégoire Hababou (E08), Sloft Magazine, the first architecture and interior design website dedicated to urban spaces of 15-70m², has used KissKissBankBank to fund the first print issue of its magazine, Sloft Édition 01.

Co-founded by Antoine Gillain (E93), Bubble It! has doubled its presale targets on KissKissBankBank for its new range of 100% natural sparkling drink sachets that are free from sugar, intense sweeteners, preservatives and colourings.

Taken over by Nelson Burton (E08), the specialist press group Au Cœur des Villes ran a successful Ulule crowdfunding campaign for its culinary magazine, Yam: “Every 2 months, 132 pages and 22 recipes to explore gastronomy with the people who define it!” 

Launched by Léa Chonier (E22), Poécile has sold every last drop of its first collection of gender-neutral, vegan perfumes made with organic wheat ethanol, each variety of which evokes a specific French region.

Founded by Ryvka Adda (E22), the educational, non-digital, and made-in-France toy Ryvdoll proved to be a hit with parents on Ulule, with its 2D doll whose outfits represent a city or culture from all over the world, accompanied by a binder to serve as a launchpad for a whole universe of stationery and creativity.

On Ulule, Clotilde Hibon (BBA 06), has successfully launched her “7 Families of Emotions” game through her publishing house, Emotions Games. “Each family is made up of educational cards that represent the emotional cycle, to help children aged 5+ identify and better understand what they are experiencing”. 

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