Agorize

Agorize's business model is centered on a Software as a Service (SaaS) platform that facilitates open innovation challenges. It connects its corporate and government clients with a global community of ten million innovators, which includes students, developers, startups, and employees. The company generates revenue by providing this platform for clients to organize programs like hackathons, startup competitions, and internal idea challenges. These initiatives help client companies to source novel ideas, accelerate project development, scout talent, and enhance their brand visibility. Agorize has worked with over 300 enterprise clients, including prominent names like Microsoft, L'Oréal, PepsiCo, and Schneider Electric.

The core of Agorize's offering is its highly customizable open innovation platform. This technology allows organizations to launch, manage, and promote their innovation challenges. Key features include tools for filtering and assessing proposals, a fully white-labeled interface for a consistent brand experience, and the ability to manage both internal and external innovation communities simultaneously. The platform supports the entire innovation lifecycle, from ideation to implementation and project management. For participants, it provides an opportunity to collaborate, submit solutions, and potentially win financial awards, training, or employment opportunities. The company has facilitated over 2,000 such programs.

Financially, Agorize has progressed through several funding rounds, raising a total of $17.6 million. Notable funding events include an initial seed round of approximately $390,000 in 2012 from Bouygues Telecom Initiatives, a Series A round of $2.5 million in 2014, and a larger Series B round of €13 million ($14.5 million) in 2019. This capital has fueled its international expansion, with offices established in Europe, Asia, and North America. The acquisition by Bloomflow in late 2024 has combined the two companies, creating an entity with over 100 employees and more than 300 corporate clients across 26 countries, aiming to offer a comprehensive, AI-powered software suite covering the entire innovation process.