Occtoo, a Malmo, Sweden-based SaaS startup, has secured €4.6 million in a seed round led by Amsterdam-based Newion, with participation from 42CAP and Industrifonden. Last month, the Amsterdam VC launched Newion IV, it’s fourth investment funding to invest in about twenty new early-stage B2B software startups.
The Swedish company will use the funds to accelerate expansion and grow the partner network and product development.
“Investing in MACH/Composable systems has traditionally been reserved for tech-savvy organizations. With our Experience Data Platform, we make that setup available for more companies and teams that want to reap the benefits of a composable approach but don’t have a developer-heavy organization. We remove that complexity and take Composable from a developer-heavy approach to a business user-first approach. It is something new and puts the digital team in the driver’s seat instead of having to lean on the IT organization to stitch everything together for them,” says Niclas Mollin, CEO of Occtoo.
What does Occtoo solve?
Today companies need to digitalise all parts of the customer journey with new digital experiences and self-service tools. However, in the present situation, this is executed too slowly and very expensive because their data is locked into silos and digital teams rely on tech resources to build integrations to access the data. That’s where Occtoo comes into play!
Founded in 2019 by former inRiver founders Niclas Mollin (CEO) and Jimmy Ekbäck (CTO), Occtoo is an Experience Data Platform that helps digital teams to build digital experiences and apps faster.
The company does this by providing the team instant access to all necessary data and content without building time-consuming and expensive integrations.
Additionally, they can match the right content with the right customer and create an API with a click to publish and collect real-time data on all kinds of devices, touchpoints, and channels.
Several brands, including Cartier, Intersport, and Fjällräven, trust Occtoo to orchestrate their digital experiences across channels. Octoo offers an easy-to-use interface where people with no coding skills easy can just slice and dice data and pick the specific assets they need for the digital experience they want to build.
Currently, the company employs around 45 people from 16 different nationalities and 14 countries globally (mostly Europe), of which 35% are female.
“We’re very excited about this investment. The team has built an impressive product that provides customer value in this emerging space and will make life much easier for digital teams. We see that Occtoo is well positioned to take the leadership role in this new category”, John Sjölander, Partner, Newion.