Wiremind takes €35m after 12 years without outside capital
The Paris software firm turned down the venture route from 2014 until this month. Its founders keep majority control and say the reason to raise now is how fast transport operators are buying AI.
Wiremind has closed a €35 million round, the first outside money it has taken since it was founded in October 2014.
Three investors came in: IronWave, formerly Wendel Growth, Bpifrance Investissement through its Large Venture fund, and Seaya Andromeda.
Co-founders Colin Girault-Matz, the chief executive, and Charles Pierre, the chief technology officer, will remain majority shareholders and keep control of the business, according to the company.
That is the unusual part. Twelve years of self-financing leaves founders with something to sell from a position of strength rather than need.
The two met at SNCF, the French state rail operator, where they saw that transport operators had no machine-learning tools for managing revenue and capacity.
The product that came out of it is CAYZN, a revenue management system for passenger transport operators. Wiremind says it has delivered revenue gains of between 5 and 15 per cent on average for the operators that adopted it.
CAYZN's annual recurring revenue grew 81 per cent year on year in 2025, on the company's figures.
Three more products followed: PAXONE for inventory and distribution, CARGOSTACK for air cargo, and EVENTORI, a ticketing and revenue tool aimed at sports clubs and event organisers.
Wiremind says group revenue grew 67 per cent in 2025 and that it now has more than 80 clients, 23 of which signed during that year.
The money is earmarked for two things: international expansion and more spending on AI research and development.
The company is already in Europe and North America, is growing in South America, and now intends to push into the Middle East and the Asia-Pacific region.
Girault-Matz's stated reason for raising is timing rather than cash. Transport and cargo operators are making their AI buying decisions now, and a bootstrapped balance sheet funds R&D at the speed the balance sheet allows.
For a founder weighing the same choice, the sequence is the point. Wiremind reached profitability, a four-product range and more than 80 clients before any investor had a say, and the founders set the terms of the round that followed.