Lettria, a platform specializing in the automation of natural language processing, has announced a seed round of €5 million from Galion.exe, Jezby Ventures (Octave Klaba, OVH), and Business Angels. Thanks to this financing, Lettria, which already counts among its clients large groups such as La Poste and Leroy Merlin as well as startups, intends to continue the development of its no-code AI platform and its international expansion.
Founded in 2019 by Marian Szczesniak, Victor Goguet de la Salmonière and Charles Borderie, Lettria develops a no-code AI platform dedicated to word processing. Its team now consists of 15 experts in data science, software development and linguistics.
After having sold 20% of its capital to Sia Partners in 2019 to accelerate its commercial deployment, it has access to €5M financing to boost the commercialization of its solution, which began a few months ago thanks in particular to the recruitment of new sales and marketing teams.
A no-code platform accessible to business experts
According to the start-up, although the NLP sector is experiencing unprecedented growth and progress in technological capabilities, 85% of projects continue to fail due to a lack of expertise in the field.
The company initially focused on a monolingual approach, in French, one of the most complex languages in terms of morphology and syntax, and thanks to three years of R&D, the support of the French Ministry of Research and Higher Education and other renowned public institutions, it has developed one of the most powerful solutions on the market, which is now fully functional in French and English.
This solution consists of a unique platform that everyone can use in a few clicks with minimal configuration, involving the business experts throughout the project. It brings together all the players in a project in the same collaborative space, from data teams to business experts to project managers. This collaborative approach maximizes the project’s chances of success, allows everyone to take ownership of the innovation, while dividing the implementation time by 4, according to Charles Borderie.
Willy Braun, co-founder and general partner of Galion.exe, states:
“We were seduced by Lettria’s ability to make an extremely complex problem simple. The platform allows any company to successfully complete an advanced engineering project and restore value to the assets sitting on their servers. Lettria enables them to significantly improve their business processes and offerings, thanks to the understanding of their users’ exchanges and the knowledge they have capitalized on.
Lettria supports both large groups (La Poste, to analyze online reviews and improve customer service, Leroy Merlin, for product search and recommendation, AP-HP for patient data structuring, etc.) and start-ups (Konsistent App, Juisci, Julia).
The next objectives
The start-up’s objective is now to establish itself in France and to evangelize the international market. It plans to distribute its solution in the United States and is also counting on strategic partnerships with major tech players (Microsoft, Salesforce, Neo4j) as well as with consulting firms, in particular with Sia Partners and its 700 consultants across the Atlantic.
Charles Borderie explains:
“There is a lot of evangelizing to be done around NLP, but the opportunities are numerous and the fields of application very broad. We have already established strategic partnerships with major tech players and this round of financing will allow us to accelerate our international development and support our SaaS solution by recruiting new sales and marketing teams.