[FW Radar] Foxintelligence, data for e-merchants
Founded in January 2016 by Nicolas Remia and Edouard Nattée, Foxintelligence carries out studies for companies on e-commerce and consumer purchasing behavior on the Internet. The start-up publishes two sites Cleanfox and Misterfox.
More details with Edouard Nattée, co-founder of Foxintelligence.
FrenchWeb: What needs does your service meet?
Edouard Nattée, co-founder of Foxintelligence: Today, e-commerce players are in a paradoxical situation:
they consume more and more data and try to support all their decisions with reliable data.
they know everything that is happening on their website but are blind to the rest of their markets and especially the performance of their competitors.
This is due to the fact that online distributors (Amazon, FNAC, Cdiscount, etc.) never share their transactional data. For physical commerce players, it is quite the opposite: thanks to Nielsen or GFK, which notably collect cash outflows, the data is available to the nearest comma (market share, average basket, etc.).
What is your value proposition?
Foxintelligence is revolutionizing the market data industry with its crowdsourced market-intelligence technology that allows it to have data of unparalleled quality and almost in real time.
Using Foxintelligence data, distributors, brands and analysts can accurately know market share, average basket, growth, churn rate, and more. from any competitor. Their decisions are finally based on reliable and precise data.
Crowdsourced market-intelligence exists thanks to the strong pact that we make with each user of its B2C services:
Foxintelligence offers consumers free services that save their users time and money (Cleanfox and Misterfox).
in exchange, users transfer their electronic receipts from their mailboxes.
these receipts are then fully anonymized and then aggregated for statistical purposes.
We are committed to being completely transparent with B2C users on their business model and never to resell any personal data. Our model is revolutionary in the sense that it is the first model around consumer data that does not generate any harm for personal data.
Who are the users of your solutions?
We give our clients access to reliable and precise data that they did not have access to before. In this way, we help companies to be truly data-driven and to make better strategic decisions.
We have three types of customers:
For example, we can shed light on any venture capital fund on the traction of a start-up, give an online retailer the turnover of one of its competitors or inform a brand about the bestsellers of its competitor.
What is your development plan?
Here is our development plan:
Work with the leaders of the retail market to define with them the new tools they will need tomorrow.
Reach the critical size allowing us to preempt the European business intelligence market.
In the short term, become the market intelligence leader in Germany, France and Great Britain, then in the medium term the European leader.
What are your challenges?
Here are our challenges:
We are the first in this market, so we must strive to maintain barriers to entry into this market.
Identify the needs of our B2B customers to develop the software most suited to their needs.
We have just raised € 6 million in funds from Global Founders Capital, Daphni, eFounders, Partech Ventures, Iron Capital and a group of business angels.
We are in dire need of development and data science resources to develop our entire B2B software suite.
Who are your competitors?
Our competitors are companies like Nielsen, GFK or Kantar. Unlike us, they have no reliable and precise way to measure e-commerce trends in detail.
Founders: Nicolas Remia and Edouard Nattée
Creation date : january 2016
January 2016: 200,000 euros of pre-seed with eFounders
November 2016: 1,000,000 euros in seed with Daphni, Partech
July 2016: 6,000,000 euros with our historical investors
Seat : Paris