Tengo leverages AI technology to efficiently discover, evaluate, and respond to public tenders. Positioned as a software-as-a-service tool, Tengo aids companies in managing public tenders on a scalable level – much like Govly in the U.S. Initially incubated within the startup studio Hexa, Tengo secured a €3 million funding round spearheaded by Point Nine ($3.2 million at the current exchange rate).
Public tenders present a vast, yet often untapped market for most companies due to the substantial resources they demand. In France alone, there are over 200 platforms hosting public tenders. Identifying opportunities and crafting compelling applications can be time-intensive.
Tengo’s vision is to simplify the entire process of public tenders using technology, believing it can streamline the value chain significantly.
Tengo facilitates the creation of a customized feed of public tenders based on defined criteria by clients. The tool then scours various public portals hosting tenders to discover relevant opportunities.
Public tenders are meticulously detailed to ensure integrity, often requiring companies to sift through lengthy documents outlining governmental needs. Tengo automates the identification of essential criteria, such as the case with OpenClassrooms, who specifically seek online training courses.
Tengo employs artificial intelligence to analyze tender documents, highlighting crucial details and referencing pertinent pages efficiently.
With features akin to modern software-as-a-service tools, Tengo serves as a central hub for all things related to public tenders. Companies gain insights into ongoing applications, can collaborate internally, and receive alerts for upcoming tender deadlines.
Tengo’s AI integrations aid in generating submission documents seamlessly, streamlining the application process.
Tengo envisions enabling collaborative applications among its customers for public tenders, promoting SMEs’ participation and leveraging public funds sensibly. While the startup is still early in its journey with a client list including notable names like OpenClassrooms, Citron, Theodo, and Carrefour Pro, the challenge lies in scaling the platform to cater to the vast market of companies engaging in public tenders in France.
