The startup, specialized in automatic natural language processing (NLP), raises €6 million from Arjo, Holnest, Odyssée Venture and business angels.
Founded in 2012 by Guillaume Liegey, Arthur Muller and Vincent Pons, Explain (ex: LMP) became known for its electoral mobilization software, particularly for presidential campaigns.
For the past 3 years, it has specialized in language models used by artificial intelligence.
Its new objective? to help manufacturers simplify the drafting and synthesis of administrative documents, in particular to respond to public tenders or to apply for building permits.
Companies in the real estate, telecom, energy and transportation sectors need accurate information to carry out commercial projects or respond to calls for tender. However, they may face legal, political or financial obstacles that can make the process tedious and frustrating.
That's where Explain comes in with its innovative solution that automates the reading of administrative documents. With this tool, companies can easily identify tenders or calls for expressions of interest, conduct active intelligence on topics or geographical areas, among others. In the future, the startup intends to simplify the process even further by facilitating the drafting of response files to calls for tender or requests for administrative authorizations.
Explain indexes a huge amount of data from local authorities such as municipal council deliberations and metropolitan area reports. The platform currently contains 50 million documents, with about 50,000 new ones added every day.
It is able to extract all text documents from public sites and automatically summarize local decisions.
This round of funding allows Explain to develop its platform.
Within 2CFinance's CFO department, Pierre-François Gourhand, senior manager in charge of the Bordeaux office, has been supporting the Explain startup in its financial structuring since 2018.
