Sia Partners 2022 International Mobile Banking…
with the participation of Studio by Sia Partners since 2019
Lettria, the platform specializing in automating natural language processing, supported by Sia Partners since its creation, 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, who already counts major groups including the likes of La Poste and Leroy Merlin amongst its customers, intends to continue developing its no-code AI platform and international expansion.
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.
To enable companies to extract the full value of their textual data, Lettria has developed a unique platform that requires minimal configuration, allowing anyone to use it in just a few clicks. Having been supported from the start by the investment vehicle of Sia Partners Studio, Lettria has used its in-depth knowledge of the field to develop cutting-edge technology that is perfectly suited to the trends for a low-code and no-code approach.
This offers an intuitive user experience that allows business profiles to participate throughout the entirety of the project. Business teams will be able to import their textual data (contracts, customer call transcripts, emails, etc.), automatically process it, analyze it via Lettria’s off-the-shelf language models, and customize the AI in only a few steps.
By simplifying the adoption of NLP technology and enabling a collaborative approach, Lettria makes it possible to reduce the average implementation time for an AI project by 75% and allows users to achieve tangible results in just a few weeks.
Started three years ago, Lettria is supported by BPI France and the French Ministry of Research and Higher Education. The start-up has been given the ‘deep tech’ label and has won awards for innovation in the field of AI. It is also a member of the CNRS think-tank and the BOPA innovation chair led by the University of Paris-Saclay and the APHP.
With this new round of funding, Lettria plans to continue to grow its business in the United States, where AI platforms are particularly developed, but not optimized specifically for text.
“There is a lot of evangelizing to be done around NLPs, 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 the marketing of our SaaS solution by recruiting new sales and marketing staff’, explains Charles Borderie, co-founder of Lettria.
In this adventure, Studio remains a leading shareholder of the startup and wishes to continue to develop business synergies, in particular through the use of the platform for solution projects of the Heka team (250 data scientist consultants worldwide) and also more directly on business projects managed by the firm's 2800 consultants. As the platform is now ready to be used in no-code, a whole new horizon of collaborations is opening up.
Lettria developed a no-code AI platform dedicated to textual data processing. Founded in 2019 by Marian Szczesniak, Victor Goguet de la Salmonière, and Charles Borderie, the start-ups team now includes 15 experts in data science, linguistics, and software development. It is suitable for both large enterprise accounts (La Poste, ADEO) and start-ups (Konsistent App, Juisci, Julia).