Lettria raises 5 million euros to democratise Natural Language Processing (NLP)

Paris, October 17th, 2022 - Lettria, the platform specializing in automating natural language processing, announced a fundraising round of 5 million euros from Galion.exe, Jezby Ventures (Octave Klaba, OVH), and Business Angels. With this new round of financing, Lettria, which already counts major groups like La Poste and Leroy Merlin and startups amongst its customers, intends to continue developing its no-code AI platform and international expansion.

A market in full structuration

Although the NLP (Natural Language Processing) sector is experiencing unprecedented growth and advancement in technological capabilities, 85% of projects continue to fail. This is in large part because going from ideation to production requires not only specialized tools, but also a large number of varied and highly technical expertise: including data science, data engineering, machine learning engineering, and linguistics. This means that only a limited number of companies have the resources required to develop the dedicated data lab necessary to make the most of their textual data.

In this context, it becomes essential to help all companies regain control of their data, in order to:

  • Automate tasks that are done by hand today (answering support tickets, reading online reviews, listening to and transcribing phone conversations, etc.)
  • Make better decisions (analyze 1000 pages of company documentation to decide on a stock purchase order).

A no-code platform accessible to business experts

Our solution consists of a unique platform that everyone can use in a few clicks with minimal configuration. Thanks to our in-depth knowledge of the field and technology that is entirely based on low-code and no-code trends, we offer a fluid experience and involves business experts throughout the entire project. Our platform brings together all the players in a single collaborative space, from data teams to business experts to project managers. This is a rewarding experience that allows the various participants to contribute their skills, help each other and communicate. Our collaborative approach maximizes the project's chances of success and allows everyone to take ownership of the innovation.

We guarantee to divide the average time of an AI project by 4 and to achieve tangible results in only a few weeks.

Ambitious technological and business goals

Three years of R&D led by a solid technical, scientific, and linguistic team have enabled us to successfully complete our project. We have been awarded the deep tech label and are supported by BPI France and the Ministry of Higher Education, Training and Scientific Research. We are also a member of the CNRS think tank, the BOPA innovation chair led by the University of Paris-Saclay, and the APHP.

With the funds raised from Galion.exe, Jezby Ventures, and the Deeptech fund of BPI France, our objective is to now establish ourselves in France and evangelize the international market. We plan to distribute our solution in the United States, where AI platforms are particularly well-developed but not yet specifically designed for text. Our team 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.

The SaaS (Software as a Service) model also requires an investment in sales and marketing resources. Several positions in these areas are already available.

“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 formed 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 staff”, explains Charles Borderie, co-founder of Lettria.

"Lettria's ability to make an extremely complex problem simple appealed to us. The platform allows any company to succeed in an advanced engineering project and to restore value to the assets that lie dormant in their servers. Lettria allows them to significantly improve their business processes and offerings, through the understanding of their users' exchanges and the knowledge they have capitalized on," says Willy Braun, co-founder and general partner of Galion.exe.

About Galion.exe

Galion.exe is a venture capital firm that brings together a professional investment team and a community of iconic entrepreneurs. As part of Galion, the leading collective of tech entrepreneurs, the company offers startup founders access to knowledge, support, and an unparalleled network to ensure the best possible development of their company.

The launch of Galion.exe is the logical continuation of The Galion Project's work with the ecosystem over the past six years. More than just a financial contribution, Galion.exe offers support to accelerate the growth of startups by taking them through to the closing of their Series A.

Website: https://galion.exe.vc/

About Jezby Ventures

Jezby Ventures was created by Octave Klaba, founder of OVHcloud, to support those whose mission is to rethink our future and bring large-scale actions to life. Jezby Ventures mainly supports disruptive initiatives in 5 areas: SaaS, IaaS, and PaaS, digital training, renewable energy infrastructures, and industrialization of music production.

Website: https://jezby-ventures.com/

About Lettria

Lettria develops a no-code AI platform dedicated to word processing. Founded in 2019 by Marian Szczesniak, Victor Goguet de la Salmonière and Charles Borderie, the company now brings together 15 experts in data science, linguistics, and software development. It supports both large accounts (La Poste, ADEO) and start-ups (Konsistent App, Juisci, Julia).

Contacts

assia@lettria.com - Head of Marketing

charles@lettria.com - CEO

2 min read

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