Unless you’ve lived in a cave for the last year or so, you must have witnessed the shockwaves that AI is sending through the SaaS space. User onboarding is no exception. We have already seen user onboarding platforms such as Product Fruits and Transak raise investments. Now, its the turn of AI-powered secure, and scalable data onboarding solutions provider nuvo to raise funds. Unlike traditional user onboarding, AI is better at addressing unique user needs with high-quality resources in less time and at a lower cost.
The Hamburg-based SaaS startup has snapped €3 million seed funding led by La Famiglia which invested in Mistral AI and EthonAI. It was joined by new and existing investors, including FoodLabs, APX and Collective Ventures, Exxeta Ventures and various business angels.
nuvo will use the funds to further develop its AI algorithms, solidify its position as Europe’s leading solution, and continue expanding globally. It will develop its AI-powered API for external imports, enabling software companies to effortlessly accept and integrate customer data.
How was the idea born?
nuvo was initially spun out of a former marketplace business to address the huge amount of time and effort it took their clients to import product-related data into their software product. Founders Ben Hartig and Michael Zittermann noticed millions of businessesl manually restructuring messy spreadsheets they receive from clients on a daily basis. These companies ran into countless reformatting cycles, wasting months of time and internal resources and diverting focus from their own core product.
To solve this recurring problem, nuvo began building powerful solutions supported by AI to offer businesses a universally applicable platform for mapping and transforming any data into the desired structure and format. It aims to provide the best possible import solutions for onboarding customer data.
Since 2022, nuvo has grown their client base across a variety of market segments, including RiskMethods, Sastrify, Lano and FMS Logistics.
“The complexities involved in onboarding data from various files and structures are enormous. With our AI algorithms, we strive to automatically handle every unique use case, thereby enabling all our customers to transform their external data into valuable assets”, said nuvo CTO Ben Hartig. “Once our SDK is implemented in our client’s application, it covers even the most complex edge case, freeing valuable development resources to focus on building core functionality.”
Paula Hübner from La Famiglia added, “We believe that file-based data will remain a common denominator in the overwhelming majority of companies – and nuvo has the potential to become a leading platform for heterogeneous data movements.”
“Thanks to our unique front-end processing, we naturally adhere to Europe’s strict GDPR laws by not processing any of our customers’ sensitive data. We will continue building the most comprehensive API for file-based data while aiming to be the most secure and compliant solution for our customers.” added Michael Zittermann, nuvo CEO.
