European growth in bid management accelerated by Altura's acquisition of Tendara
Dutch AI-driven bid management startup Altura has announced its strategic expansion plans in Europe, following its acquisition of Berlin-based Tendara. The deal signifies Altura's commitment to lead Europe's bid management market and capitalise on the continent's largest public sector procurement market, worth €500 billion.
Post-acquisition, Altura is focusing on several key initiatives to drive its growth:
**Expansion in Germany**
Altura aims to strengthen its presence in Germany by leveraging Tendara's established customer base, which includes high-profile clients like AFRY and Datagroup. Tendara's AI software, designed to help government contractors find, analyse, and win public tenders, will be integrated into Altura's platform to enhance its capabilities in the German market.
**AI-Powered Platform Integration**
Altura plans to migrate Tendara's customers onto its AI-powered platform, designed to help companies win complex public and private sector tenders more effectively. The integration will enable bid teams to collaborate better, centralise data, and use AI-driven workflows, making the bid management process more efficient.
**Market Leadership in Europe**
By acquiring Tendara, Altura is positioning itself to lead Europe's bid management market. The company is leveraging Germany's vast public procurement market to further its expansion plans across the continent.
**Investment and Funding**
The acquisition was preceded by Altura's €8 million Series A funding round, led by venture capital firm Octopus Ventures. This financial backing underscores Altura's commitment to expanding its operations and enhancing its technology to capture a larger share of the European market.
The fresh capital is fuelling Altura's expansion into the UK, marked by the opening of a new London office. Alongside Octopus Ventures, Altura has also secured investment from Curiosity, Fortino Capital, and P1ST investors' Perry Oostdam and Pawel Smoczyk.
In summary, Altura's growth strategy involves integrating Tendara's technology and customer base, expanding into Germany, and using AI to enhance its bid management platform, all while focusing on leading the European bid management market.
Tendara, founded in 2024, developed AI software to help government contractors find, analyse, and win public tenders. Within a year, the startup attracted high-profile customers in Germany. The acquisition is another step forward for Altura towards achieving its vision of becoming the European leader in Bid Management software.
Addressing the growing complexity in procurement processes is an area where intelligent automation and AI can make a real difference. Altura's software simplifies the entire bid management process by centralising knowledge, automating workflows, and facilitating organisation-wide collaboration.
Altura is utilizing Tendara's AI software to bolster its capabilities in the German market, aiming to capture a larger share of Europe's €500 billion public sector procurement market. With strategic investments from Octopus Ventures and other partners, Altura is leveraging AI, technology, and market expansion to lead as the European leader in Bid Management software.
As Altura grows its presence in Europe, it will continue to invest in artificial-intelligence technologies and build upon its existing platform to make the bid management process more efficient for businesses. This growth also involves expanding into new markets, such as the United Kingdom, and capitalizing on opportunities within the continent's diverse business landscape.
