Sweden-based SaaS startup Occtoo has raised €4.6 million in a seed round headed by Amsterdam-based Newion, with participation from 42CAP and Industrifonden. To invest in roughly twenty new early-stage B2B software firms, the Amsterdam VC this month established Newion IV, its fourth investment fundraising.
The Swedish business will put the money toward accelerating growth, expanding its network of partners, and developing new products.
“Traditionally, tech-savvy firms have been the only ones to invest in MACH/Composable systems. According to Niclas Mollin, CEO of Occtoo, “we make that arrangement available for more businesses and teams with our Experience Data Platform who wish to benefit from a composable approach but don’t have a developer-heavy company.
Niclas continued, “We transform Composable from a developer-heavy approach to a business user-first one and reduce that complexity. It is novel and puts the digital team in charge rather than requiring them to rely on the IT department to put things together for them.
Today’s businesses must use new digital experiences and self-service capabilities to digitize every step of the consumer journey. However, because their data is trapped in silos and digital teams rely on tech resources to construct integrations to access the data, this is now carried out too slowly and at a high cost. Occtoo steps in to help in this situation.
Niclas Mollin (CEO) and Jimmy Ekbäck (CTO), former inRiver founders, founded Occtoo in 2019. Occtoo is an Experience Data Platform that enables digital teams to create digital experiences and apps more quickly.
The business accomplishes this by giving the team immediate access to all pertinent information and materials without having to spend time and money on labor-intensive integrations.
With a click, they can also develop an API to publish and gather real-time data on a variety of devices, touchpoints, and channels. They can also match the appropriate content with the appropriate customer.
Cartier, Intersport, and Fjällräven are just a few of the businesses that rely on Occtoo to manage their digital interactions across platforms. People without coding experience may easily slice and dice data on Occtoo’s user-friendly interface and select the precise assets they need for the digital experience they want to create.
“This investment has our full attention. The team has created a remarkable product that adds value for customers in this new market and will significantly simplify life for digital teams. We can see that Occtoo is in a good position to lead this new category. Partner at Newion, John Sjölander.
Image Credit: Occtoo