Data and AI firm Sifflet closes $18 million round from EQT, Mangrove, and new investor Capmont Capital

Sifflet, a data observability platform whose customers include Penguin Random House, Carrefour, and Auchan, has raised $18 million in funding from existing shareholders EQT Ventures and Mangrove Capital Partners, with Capmont Technology joining as a new investor.

This takes it to $35.8 million in total.

Founded in 2021, Sifflet announced its official product launch in 2023. The new investment will go towards allowing it to focus on expanding its North American presence to meet demand and accelerate product innovation. 

Chief Data Officer at Penguin Random House, Pete Williams, says: “Sifflet has become an essential part of how we ensure data reliability across the business, not just within engineering. What sets them apart is their ability to combine technical depth with real-world usability. Their AI native approach doesn’t just detect issues, it gives our team the context to act faster and smarter. That’s game-changing at our scale.”

“We’ve always believed that data quality is both a technical and organisational challenge - and the market is now confirming that belief. With this new capital, we’re doubling down on product innovation, AI native capabilities, and North American expansion to help enterprises unlock trusted, actionable data at scale,” says Salma Bakouk, Co-founder and CEO at Sifflet.

“Backing a company once is a bet. Backing a company three times is conviction. What Sifflet has accomplished in the past year - tripling their customer base and revenue - is extraordinary. The team is not just creating a new product but defining a new standard for how data driven companies operate,” says Yannick Oswald from Mangrove Capital Partners.

Meanwhile, Rémi Bastien (ex-Content Square) is joining to scale global operations and Romain Doutriaux (ex-Pigment) will lead pipe gen efforts.

“We invest in category defining companies built on clarity of vision and execution." says Torsten Kreindl, founding partner at Capmont Technology "Sifflet stood out immediately: a sharp team solving a complex, enterprise critical problem with both speed and precision. As AI adoption accelerates, the need for trusted, usable data becomes non-negotiable. We’re excited to support Sifflet as they scale this capability globally.”

EQT Ventures partner Carl Svantesson adds “We’ve seen Sifflet grow from a compelling vision into a platform that’s setting a new standard in data observability. The team’s ability to pair deep technical innovation with commercial traction - especially as they expand into North America - is impressive. We’re proud to continue supporting them in this next chapter.”

RTIH AI in Retail Awards

RTIH, organiser of the industry leading RTIH Innovation Awards, proudly brings you the first edition of the RTIH AI in Retail Awards, which is now open for entries. 

As we witness a digital transformation revolution across all channels, AI tools are reshaping the omnichannel game, from personalising customer experiences to optimising inventory, uncovering insights into consumer behaviour, and enhancing the human element of retailers' businesses.

With 2025 set to be the year when AI and especially gen AI shake off the ‘heavily hyped’ tag and become embedded in retail business processes, our newly launched awards celebrate global technology innovation in a fast moving omnichannel world and the resulting benefits for retailers, shoppers and employees.

Our 2025 winners will be those companies who not only recognise the potential of AI, but also make it usable in everyday work - resulting in more efficiency and innovation in all areas.

Winners will be announced at an evening event at The Barbican in Central London on Wednesday, 3rd September.

This will kick off with a drinks reception in the stunning Conservatory, followed by a three course meal, and awards ceremony in the Garden Room.

Please email our Editor, Scott Thompson, if you have any questions or need further information: scott.thompson@retailtechinnovationhub.com

Key 2025 dates

Friday, 18th July: Award entry deadline 

Tuesday, 22nd July: 2025 finalists revealed

Wednesday, 23rd July - Friday, 8th August: Judging days

Wednesday, 3rd September: Winners announced at the 2025 RTIH AI in Retail Awards Ceremony, to be held at The Barbican in Central London.