Tengo searches for, assesses, and reacts to public tenders using AI. Similar to Govly in the US, it's a software-as-a-service application that assists businesses in managing public tenders on a large scale.

The startup, which was first developed within the Hexa startup studio, has raised €3 million in investment, with Point Nine leading the round (now worth $3.2 million). Due to their high resource requirements, public bids represent a sizable, unexplored market for the majority of businesses. Public tenders are held on more than 200 platforms in France alone. Furthermore, creating a compelling application takes a significant amount of effort, even in cases where you have chances.

This is the reason why a lot of businesses outsource this kind of work to consultants or independent contractors. However, Tengo thinks that AI procurement solutions technology might be able to streamline the public tendering process as a whole.

Clients first specify their requirements and establish a feed of public sector tenders. Tengo then searches every public portal that posts tenders for fresh bids that meet those requirements.

Public sector tenders are typically very exact in order to prevent fraud or excessive spending. As a result, businesses frequently have to sift through up to 50-page documents outlining the government's search criteria.

OpenClassrooms is one of Tengo's clients. Every day, bids for training programs are released. But only fully online training courses appeal to them, according to Renou. Tengo recognizes this element and forty more criteria automatically, saving time and effort compared to document processing.

Tengo analyzes the data in the documents using artificial intelligence, as you could have predicted. It can draw attention to significant details and make page references.

Similar to other contemporary software-as-a-service applications, Tengo serves as the central clearinghouse for all matters pertaining to open bids through its proprietary AI technology. Businesses receive a summary of every application that is active at any given time. Workers have the ability to share a tender with another team member and make comments. Customers of Tengo are also able to receive notifications when a tender is due to expire or be renewed.