- Tengo uses AI to automate finding, evaluating, and responding to public tenders.
- Founded within Hexa startup studio, Tengo secured €3 million funding led by Point Nine Ventures.
- Addresses complex public tender processes in France with over 200 hosting platforms.
- Clients like OpenClassrooms benefit from automated tender scanning and criteria matching.
- AI integration helps generate and manage tender documents, enhancing efficiency and collaboration.
Main AI News:
Tengo leverages AI to streamline the complexities of public sector procurement, offering a software-as-a-service solution designed to assist companies in managing public tenders efficiently. Originally incubated within startup studio Hexa, Tengo recently secured €3 million in funding led by Point Nine Ventures ($3.2 million USD). The platform addresses the substantial market opportunity presented by public tenders, which often require significant time and resources to navigate effectively.
In France alone, where over 200 platforms host public tenders, identifying and responding to opportunities can be daunting. Tengo automates this process by allowing clients to define criteria and then scanning multiple public portals to discover relevant tenders. These tenders, known for their detailed specifications, can span up to 50 pages, detailing specific requirements to prevent corruption and overspending.
For instance, OpenClassrooms uses Tengo to identify online training courses tailored to their needs without manual parsing. Tengo’s AI capabilities analyze tender documents, extracting key information and referencing critical details, streamlining the application process. As a comprehensive software solution, Tengo also serves as a centralized hub for managing tender applications, facilitating collaboration among team members and providing alerts for upcoming deadlines.
Moreover, Tengo integrates AI to generate application documents seamlessly, enhancing efficiency for users. Looking forward, Tengo aims to foster collaboration among its clients, enabling joint applications for public tenders. With early adopters including OpenClassrooms, Citron, Theodo, and Carrefour Pro, Tengo is poised to transform its innovative approach into a sustainable business model, serving a market where thousands of companies vie for public contracts annually in France.
Conclusion:
Tengo’s AI-driven approach marks a significant advancement in simplifying the intricate landscape of public sector procurement. By automating tedious tasks and offering a centralized platform, Tengo not only streamlines operations for its clients but also sets a precedent for innovation in the competitive public tender market. This technology-driven solution positions Tengo well to capitalize on growing demand for efficient, scalable procurement solutions across industries.
