ChapsVision, a French Big Data startup often called ‘Europe’s Palantir,’ is making waves in the tech world. The company recently raised €85 million in funding and has been on a buying spree, acquiring 27 firms to boost its capabilities. Founded in 2019 by Olivier Dellenbach, ChapsVision provides mass data collection and analysis services to businesses and governments.
The company now has 1,000 employees and expects to earn €200 million in revenues this year, with an EBITDA margin of 20%. ChapsVision is set on a European IPO, with plans to list on the Euronext exchange. “Euronext will be a very good vehicle for us,” says Dellenbach, noting the dynamic market for large-cap companies valued over €5 billion.
A big part of ChapsVision’s business involves government contracts. The company started targeting these in 2020, responding to a call from France’s General Directorate for Internal Security to replace Palantir with a homegrown French technology. ChapsVision has since won numerous government deals, including providing AI-powered video surveillance across various French regions.
Government work now accounts for 40% of its revenue.
ChapsVision aims for pan-European growth
“Our objective is to establish a lasting player that can help Europe with the challenge of sovereignty when it comes to data,” says Dellenbach.
This is despite privacy concerns raised by French NGOs like La Quadrature du Net about using such technologies. ChapsVision’s rapid growth is largely due to its aggressive M&A strategy. The company recently acquired Belgian video analysis firm ACIC and French data analytics startup Owlint.
“The M&A market is a growing one,” notes Dellenbach, adding that current market conditions favor buyers. “Valuations have fallen, and investors are more reasonable […] It’s a complicated period for sellers, meaning it’s a good time for buyers.”
ChapsVision plans to double down on its pan-European expansion by acquiring established local players in other countries. The goal is to enhance its technology, unlock new market segments, and grow its customer base.
ChapsVision is aiming for 50% growth next year while maintaining profit margins of 20-25%. “We have financial metrics that show profitable growth and are adapted to the European market,” Dellenbach confidently states. With a strong financial foundation and clear growth strategy, ChapsVision appears well-positioned for its next chapter—an IPO on Euronext.
The company aims to remain a key player in the European Big Data landscape, helping both businesses and governments manage and analyze massive datasets.
