Jen Andre 
- Portfolio News
- 21 November, 2024
Toucan Toco raises €12M to bring data storytelling to a global audience
BY BALDERTON
The previously bootstrapped firm has raised its first round, led by Balderton, to accelerate product development and growth in the US and Europe.
Toucan Toco, created 5 years ago by Kilian Bazin, Charles Miglietti, Baptiste Jourdan and David Nowinsky, offers a unique data storytelling solution which helps organisations provide actionable insights to non-technical business users. Toucan Toco‘s platform is easy to access and simple-to-use, so it can be implemented throughout an organisation, and used by anyone – from CxOs, HR directors and financial managers to operational staff. The solution has a drag-and-drop interface and pre-formatted data visualisation templates, which can be easily connected to multiple data sources.
The technology’s simplicity has already led to the platform being used by household names such as l’Oréal, BNP Paribas and Sodexo. President Emmanuel Macron and his ministers also chose the solution to track the progress of his reforms. Toucan Toco already has 100+ Fortune 500 clients and is used by +50% of CAC 40 enterprises in France. Already present in four European countries and the United States, Toucan Toco now plans to accelerate its growth on the other side of the Atlantic. Over the next year, the company will aim to double its team in the United States, with CEO Charles Miglietti also relocating to Boston. The new funds will also help Toucan Toco to push simplicity to the next level with a new “business in a box” product. This self-serve product will offer a wide library of ready-to-use data storytelling templates. Users will be able to pick one and connect it with data sources, such as Stripe, Shopify or LightSpeed in a few clicks, creating a bespoke tool in minutes.
Worldwide investments over the past two decades have amounted to more than $200 billion, but BI is still not fully delivering on its promises. Toucan Toco has the ability to complement first-generation BI players such as MicroStrategy, Cognos or Business Objects without having to spend a fortune.
