# Snips

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/snips

- Industry: Software
- Headquarters: Paris, France
- Website: www.snips.ai
- Total disclosed funding: $13M
- Latest round: Series A (Aug 7, 2017)
- Investors on record: 7

## About

Snips SAS is a French company specializing in embedded voice recognition technology that enhances audio experiences by enabling natural language interactions with devices.Founded in 2013 in Paris, France, Snips SAS focuses on providing embedded voice recognition solutions. The company underwent a significant transition when it was acquired in November 2019 by Sonos, Inc. for USD 37.5 mn. The acquisition marked a pivotal shift in Snips' operations, aligning it with Sonos' product ecosystem. The founders, Alex Zverev and Maël Primet, established Snips with the intent to revolutionize voice interaction in smart devices. As of now, the company has successfully completed five funding deals, with the latest being an Add-on Trade Sale led by Sonos, Inc., amounting to USD 37.5 mn. The total amount raised by Snips to date is USD 8.499 mn.Snips specializes in embedded voice recognition technology that integrates seamlessly with various sound systems, enhancing the audio experience for users. Their core offerings are designed to provide advanced voice interaction capabilities, enabling users to control devices using natural language commands. This technology targets a diverse clientele, including manufacturers of smart home devices, consumer electronics brands, and businesses in the hospitality sector looking to incorporate voice-activated solutions into their services. Snips' products are tailored for markets in North America, Europe, and Asia, where there is a growing demand for smart, voice-activated technologies. The company's focus on operating from Paris allows it to serve both regional and international clients, ensuring that its products meet the evolving needs of consumers who seek convenience and efficiency in voice-driven interactions.The revenue model for Snips revolves around strategic partnerships and B2B transactions, particularly with hardware manufacturers and software developers who integrate Snips' voice recognition technology into their products. The company engages in contractual agreements that allow clients to license its technology for a fee, structured around usage metrics or flat-rate subscriptions. Such partnerships enable Snips to capture value from its innovative offerings while providing clients with the tools necessary to enhance their product lines. The flagship technology can be positioned as a premium feature within smart devices, allowing manufacturers to differentiate their products in competitive markets. Specific pricing details and individual transaction structures are not publicly disclosed, but Snips' approach reflects a commitment to fostering long-term relationships with its clients through tailored solutions and support.Looking ahead, Snips intends to leverage its recent acquisition by Sonos, Inc. to expand its offerings and enhance product integration across Sonos' devices. The company aims to launch new embedded voice recognition products that will further streamline user interactions. Additionally, Snips plans to expand its reach into the Asian market by 2022, capitalizing on the increasing demand for voice-activated technologies in that region. The USD 37.5 mn funding from the recent acquisition will be utilized to support these initiatives, enabling Snips to innovate and grow its market presence effectively.

## Funding rounds

- Series A, Aug 7, 2017, $10M — Equitis, Bpifrance Investissement, MAIF
- Seed, Jul 10, 2015, $3.3M — 500 Global, Eniac Ventures, The Hive, Kima Ventures

## Investors

- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed
- Eniac Ventures (https://capitalatlas.ai/funds/eniac-ventures) — Seed
- The Hive (https://capitalatlas.ai/funds/the-hive) — Seed
- Kima Ventures (https://capitalatlas.ai/funds/kima-ventures) — Seed
- Equitis (https://capitalatlas.ai/funds/equitis) — Series A
- Bpifrance Investissement (https://capitalatlas.ai/funds/bpifrance-investissement) — Series A
- MAIF — Series A