Tengo funding news – SaaS Platform Tengo Secures €3 Million in Funding

It is the only product on the market that enables companies to quickly find, evaluate, and reply to public tenders in one location thanks to artificial intelligence at its core.

Over 40,000 companies in France participate in open bids, and the government awards these contracts for half a billion euros every day. It increases a business's chances of success by assisting it in locating pertinent tenders and providing support during the entire response process. Fundamentally based on AI.

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."

OpenClassrooms, Citron, Theodo, and Carrefour are a few of its clients. These original customers have turned into platform investors as well. Tengo's initial clients are already able to find and acquire public contracts worth over €35 million today.

It intends to use this financing to quicken the process of incorporating AI into its product, hence increasing the accessibility of the public tender market for all enterprises. It will improve the response help features driven by AI, which a number of clients have already tested.

Read also - Hive Technologies funding news – Operations platform Hive Technologies Secures €28.2 Million in Series A extension at an Increased Valuation.

It intends to use this financing to quicken the process of incorporating AI into its product, hence increasing the accessibility of the public tender market for all enterprises. It will improve the response help features driven by AI, which a number of clients have already tested.

About Tengo

Tengo is a software system (founded in 2023 by Hugues Renou and Yoann Gauthier) that centralises all public tenders. Tengo uses artificial intelligence (AI) to find possibilities and then provide the best offer, helping public procurement responses win more tenders.