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Botify, provider of search engine optimization tools and apps, announced today that it has raised $ 55 million, bringing the total to $ 82 million. CEO Adrien Menard says the funding – a Series C led by InfraVia Growth with participation from Bpifrance, Eurazeo and Ventech – will allow the company to expand its platform, develop its partner ecosystem and expand its global footprint, as it focuses on the product R&D.
As more businesses move to online as their primary channel, ensuring high rankings in web searches has become a priority. 80,000 searches are performed per second, which is 53% of web traffic today. But it’s a moving target. Google alone made 4,500 algorithm updates and changes to Google search in the past year.
New York-based Botify provides a platform for identifying and fixing problems with the aim of making websites more discoverable for search engines. Working with major search engines and internet infrastructure companies, the company develops and maintains AI-enabled analytics and automation tools that use more than 1,000 metrics to understand a website’s content, search engine behavior, and user intent.
Photo credit: Botify
Botify was founded by Menard, Thomas Grange and Stan Chauvin who previously worked at a digital marketing agency. As Menard explained, the trio concluded that companies are spending too much time optimizing content and keywords without knowing if Google and other search engines are crawling their web pages at all.
“Almost half of the pages of large corporate websites are not crawled by Google. If a page is not crawled or seen by Google, it will never be ranked in search engines and therefore cannot increase traffic or sales, “Menard told VentureBeat via email. “This is how Botify was born – some of [our] The first customers included eBay, BlaBlaCar and Expedia in France. [We] entered the US market in 2016. Fast forward to today, and the US now makes up more than 60% of that [our] Revenue.”
According to Menard, Botify uses a 2 petabyte data set that contains raw crawl data, server logs, search data, and conversion and sales data to train its algorithms. The algorithms support tools like RealKeywords that help customers understand what keywords visitors are looking for, how they get to the pages, and where else they might go.
“When you look at a site’s query data, it can be difficult to understand the intent,” Menard said. “For example, when users click on the website with the keyword ‘pizza’, are they looking for a pizza place in their area or for information about pizza making? By applying natural language processing techniques and unsupervised machine learning algorithms, we extend ours [platform] with functions to improve the visibility of the millions of search queries that are searched and analyzed every day. “
To help manage its data science stack, Botify created a custom architecture for developing, training and optimizing algorithms. To date, the company has used it to develop algorithms that automatically identify “strategic” websites, recognize critical problems, forecast decreases in traffic and generate missing links, texts and metadata.
“Because organic search can increase up to 30% of the traffic and revenue on a corporate website, organizations need a comprehensive solution to optimize performance,” added Menard. “Brands need to equip their teams with the right skills to analyze their performance, decide action plans, and implement the solutions to generate incremental revenue. Botify is the perfect answer as our platform enables organic search teams to analyze, decide and implement optimizations faster. “
Botify only occupies part of the $ 80 billion search engine optimization (SEO) industry. In 2020, companies spent $ 47.5 billion on SEO-related products and services, and the market is projected to grow at an average annual growth rate of 20% through 2025.
However, Botify, with 200 employees, reports that annual sales and valuation have tripled since the last round of funding in 2019, with annual growth of nearly 60% and revenue of nearly $ 100 million. Current customers include Expedia, Macy’s, Marriott, L’Oréal, Crate & Barrel, Conde Nast, Groupon, GitHub, The New York Times and 500 others in e-commerce, travel, and media and publishing.
Botify Says US-Based Brands Make Up More than 60% of Its Sales; The company entered the market in 2016. The company plans to use part of the new financing for expansion in the Asia-Pacific region, in particular by expanding activities there and working with “key brands and partners” in the region.
“If 2020 has proven anything, it is first and foremost that search is an integral part of our lives,” Menard said. “For companies, this means that there is a greater chance than ever of being found in search to generate brand awareness and online sales – [even as] Marketing teams are encouraged to do more with less and focus on the most profitable channels. “
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