Wiremind raises 35 million euros for revenue optimization software

Wiremind has raised 35 million euros from IronWave, Bpifrance, and Seaya Andromeda. The French scale-up, which develops revenue management, inventory, and distribution software for transport operators and players in the sporting event sector, is completing its first funding round since its establishment in 2014, having been self-financed for twelve years.

The company was founded by two former SNCF employees who worked in the revenue management department, a strategy that involves adjusting pricing and distribution based on demand. Wiremind initially developed a dedicated software for this activity and has gradually expanded its offerings to include several solutions covering ticketing, capacity management, pricing, and distribution.

"The objective is to cover the entire core of our clients' commercial engines to enable them to create, distribute, and optimize their offers," summarizes the CEO. Wiremind has attracted several major players in transport, its historical vertical, including SNCF, Transavia, and Eurostar. The company also collaborates with players in the sporting event sector, a market that is still minor in its activities, such as PSG.

Wiremind's offerings are modular, allowing clients to choose a single solution. "When we onboard a client, they often start by selecting our competition data module, which allows them to understand their competitors' positioning through data we collect via web scraping or public APIs. They then add other modules," the CEO explains.

All software developed by the scale-up is accessible via a SaaS subscription. After twelve years of self-financing, Wiremind has decided to open up its capital to external investors, a choice made after careful consideration: "We sense a genuine appetite in our market for technological equipping. We do not want to miss the boat and believe it is the right time to accelerate."

The funding will finance two priorities: international expansion with continued development in South America, the Middle East, and the Asia-Pacific region, as well as accelerating investments in AI, particularly to enhance pricing recommendations. To pursue these objectives, the company, which employs 180 people, plans to hire around fifteen more.

Reported by Journal du Net.