We are thrilled to announce that we have secured additional funding to support the continued growth for Occtoo from Newion, 42CAP and Industrifonden.When Occtoo was founded in 2019 it was based on a strong idea of what was missing in the digital experience/commerce market. Since then the market has taken leaps forward in developing in that direction. Gartner also predicts that by 2023, 60% of companies seek composability in their tech investments to gain speed and agility.
Occtoo is uniquely positioned as the missing piece in the composable stack that enables companies to connect all data, content and APIs from all systems in a low-code user interface so digital teams can work autonomously with the data without having to spend most of their time and budget on data integration. With the data at their fingertips they can easily combine context, content and customer data to infuse their custom applications with relevance and orchestrate all digital experiences from one single place.
“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 more teams in the organization, that also wants 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 totally 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, Occtoo
With our Experience Data Platform a new digital experience/application can be launched within days and easily be scaled globally. Comparing this to using legacy technology it would take months or even years to build similar applications with maintenance costs skyrocketing.
“The relevance of our product is even stronger in this unstable market, companies need to focus creating a relevant customer experience using the resources they already have and with less risk. We help them do that” Niclas Mollin, CEO & Co-founder, Occtoo
We are especially thrilled to see the value Occtoo has proven to add among retailers with a need to support their omnichannel sales strategy such as Cartier, Intersport and Nordic Nest. You can find examples of digitalization efforts that spans across web/e-commerce, in-store, partner/merchant, marketplaces and employee experiences from our customers here.
With this additional seed funding of €4.6M we will:
- Invest more in our product development. Making sure to build a product that makes lifes easier for digital teams so they can spend all their time and energy on the fun innovative efforts and less on data integration
- Invest and further develop our global team
- Invest in our partner network into becoming a true global community
Most importantly we will continue to work to be the best workplace and partner for everyone that has believed in us and our vision.
Welcoming seasoned investors onboard
We are thrilled to continue our collaboration with Industrifonden and 42CAP, and in addition welcome Newion to the Occtoo family. This is seasoned investors that will add, and continue to add, great knowledge to our company that is beneficial for our entire community, team members, customers and partners alike.
A few words from our investors:
“We’re very excited about this investment. The team has built an impressive product that provides a lot of customer value in this emerging space and will make life a lot easier for digital teams. We see that Occtoo are well positioned to take the leadership role in this new category”, John Sjölander, Partner, Newion
”We invested early in the team because we believed in them and their unique idea within the Composable space, now we see that the market is maturing and catching up to their vision. They have built a product and company that is well positioned to be the category leader in this emerging space” Alex Meyer, Partner, 42CAP
”We are especially impressed by the fact that Occtoo can implement a new digital experience for a digital marketing department in days, whereas it today can take months to get hold of the data needed. We’ve been following Occtoo for a couple of years now and can see that the customers are adapting their platform beyond expectation. We are happy to continue supporting the team on their mission to create relevant customer experiences” Tomas Bie, Investment Director, Industrifonden
Occtoo is an Experience Data Platform that supports retailers and brands to build relevant digital experiences and applications at rapid speed. Occtoo’s SaaS platform makes it easy to access and unify enterprise data from backend systems such as CRM, ERP, PIM, etc. and combine it with behavioral and contextual data to create relevant digital experiences that can be deployed in any channel or frontend in real-time at a global scale. Occtoo was founded in 2019 and has companies such as Cartier, Fjällräven, and Nordic Nest on their customer list.
Learn more about our Experience Data Platform.
For further inquiries contact Niclas Mollin, CEO at Occtoo, firstname.lastname@example.org