🌱Outmind raises €500k to make workplace information more accessible with its smart search engine
We are proud to make this early bet in the Paris-based startup along with Sharpstone Capital, BPIFrance, and Business Angels. Outmind recently joined the Future 40, the 40 most promising companies among 1200 of Station F.
Outmind accelerates access to relevant data which is spread among today’s workplace applications : CRM, ERP, collaborative tools (such as Office 365 or Google Drive), e-mails, project management tools… In total, there are on average 88 different SAAS tools used per company (Okta 2020). In this context of data dispersion, 20% of working time is lost looking for information (McKinsey). To address this issue, Outmind has developed a technology that understands users queries thanks to AI and allows finding the right elements within the various workplace tools. It also indicates which person to ask for when enough data isn’t shared to the user.
The user is thus supported in his daily work life: he saves time on finding files, avoids recreating what already exists, and knows the right person to reach when something is missing. In addition to the productivity gains, this strongly reduces the risk of errors.
Grace Mehrabe, Co-founder & CEO: “Business habits have changed with data proliferation. Today, each employee uses on average more than 10 different tools daily. Native search modules are proving to be inefficient and incomplete. We’re aiming to make internal information much more accessible, to enable better and quicker decision-making. With the pandemic, the problem became stronger: remote workers can’t ask their next desk colleague anymore, but they still need to access knowledge. We’re more than ever commited to create the best experience for them. In the longer term, our goal is to go beyond search, to bring the information to the user in a contextual way, when he needs it. This means continuing our R&D to be at the forefront of semantic analysis and machine learning techniques”.
Outmind targets an international market, estimated at more than 10 billion euros and plans to expand in the English-speaking world in the coming months, which it already started with first customers in France and Europe. The company is now preparing to deploy the solution to more than 30 partner companies of various sizes, from SMEs to large groups.
Henry Wigan, Managing Partner of MSM: “Search has changed the world in the last 30 years, with the advent of the likes of Google. Information previously available to the privileged few is now available to every person on the planet with access to an internet connection. It is our conviction that the next frontier of search is within organisations, where at present information is poorly distributed and shared. Making this information transparent and discoverable offers a significant productivity opportunity, in particular in education and healthcare. Arthur and Grace are a bright, technical and driven young team, and MSM is excited to be partnering at this early stage in their mission.”
Founded in 2019 by Grace Mehrabe (CEO, ESCP Europe, serial entrepreneur), and Arthur Caillaud (CTO, engineer from Centrale Paris), Outmind is disrupting the field of knowledge management softwares. The team created a smart search engine, connected to the company’s internal tools, to save up to 4 hours per week per employee. The solution is based on the latest indexing and machine learning techniques, to offer the most relevant results to the user in a fraction of a second. Outmind is accessible for small teams (from 10 people) as well as larger populations (mid-cap companies and entities within large groups).
Prior to this fundraising, Outmind was already supported by experienced entrepreneurs such as David Thoumas (ex. EMEA Director of EXALEAD, Enterprise Search leader sold to Dassault Systems), Jérôme Lefebvre (Stratumn), Philippe Poux (ex Contextor, sold to SAP), and was accelerated at l’Ecole Polytechnique before joining Station F.