The seven-digit investment by BE Beteiligungen Fonds will help Salzburg e-commerce search spinout Findologic accelerate its international expansion and introduce new product features.
Findologic, an Austria-based e-commerce search technology spinout of University of Salzburg, attracted a mid-seven-digit euro (€5m = $5.7m) investment on Tuesday from fund management firm BE Beteiligungen Fonds.
Founded in 2008, Findologic provides e-commerce clients with a search engine that is directly embedded into their websites, relying upon targeted algorithms to supply each customer with personalised product results.
The company also offers merchandising and consultancy services. Findologic currently serves more than 1,000 e-commerce outlets in 23 countries and is targeting further growth beyond the so-called Dach countries of Germany, Austria and Switzerland.
The company is currently expanding its Salzburg headquarters and also plans to upgrade its platform to support technologies such as voice search, conversational shopping and virtual reality.
Findologic previously secured undisclosed sums of funding in 2012 and 2014, however investors could not be ascertained for either round.
University of Salzburg graduate Matthias Heimbeck founded the…
