Copenhagen-based software startup Custimy.io has developed a Customer Data Platform (CDP), to help SMBs challenge e-commerce giants through smarter use of customer data. In a recent development, the company has raised more than $800K (approx €669.5K) in its pre-Seed round of funding.
Speaking on the development, Kristoffer Degn, co-founder of Custimy says, “This investment confirms what we have been telling ourselves from the beginning. We have the potential to change the way marketing is today. Pre Seed Ventures’ trust in us is incredible, but it also obliges. We need to work harder than ever to reach our potential!”
Besides the funding, Custimy also brings in a chairman of the board Mikkel Salling, founder and CEO at Firtal Group, a health and beauty e-commerce company in Denmark.
Also, Silicon Valley-based CMO Matterport Robin Daniels is guiding the young startup to help it challenge the big guys from Silicon Valley. He is an advisory board member, and has 20 years of experience from companies such as WeWork, LinkedIn, and Salesforce.
The Investor
The startup raised the funding from Pre Seed Ventures. This investor has a long history of investment in technology startups such as wine app Vivino, Banking platform Lunar, and customer review page Trustpilot.
Investment Director at Pre Seed Ventures, Anders Bach Waagstein says, “We first and foremost invest in people and the team. The team behind Custimy combined with how far they have made it in such a short space of time meant that it was an easy decision for us to invest in them. There are rich opportunities to create something great here.”
Capital utilisation
The funding comes in less than a year after Custimy came into its existence. With the raised capital, it looks to take the next steps in their journey by empowering SMBs through data insights.
Speaking on the use of the capital, Degn explains, “We have spent the last nine months building the software, and we have now reached the point where our product is ready to be pushed on the market. This investment helps us do exactly that.”
He further adds, “Looking at the future, we have big goals. Since the inception of Custimy, it has been our goal to become a unicorn in five to seven years. So we are looking at that billion-dollar valuation.”
How was Custimy born?
The idea behind Custimy started through the founders’ own experiences with data and e-commerce. Both Martin Navne and Kristoffer Fløjstrup Degn, joined forces with two very different backgrounds from respectively tech and marketing. And together they built a software company with a CDP that uses AI, machine learning, and tech to deliver a product specifically for marketers in small and medium-sized businesses.
In the current market, e-commerce businesses have different departments, tools, and data points to figure out some degree of a full picture. Custimy’s CDP collects all data points from the webpage, apps, and tools, and cleans, sorts, and analyses the data for the users.
The founders say, “Our CDP presents the insights they need to make data-driven decisions and have a full view of their business in one tool. We need to help SMBs and bring them away from gut-based decisions and into the 21st century, where data is king. We can not afford to lose them in the digital era.”
Transforming e-commerce businesses
Founded in July 2020, Custimy says it is on a mission to change the competition between SMBs and multinational enterprises through its Customer Data Platform (CDP). The startup claims its software will give SMBs access to the same tools, and data-based insights that have been reserved for larger enterprises over the last years.
CDP has been developed with a no-code platform through which it minimises the complexity, maintenance need, and friction for SMBs to access and utilise data to extract strategic insights about their customers, marketing, and products. This allows e-commerce professionals to deliver better and more precise customer experiences in the digital sphere.
Besides, the company has managed to bring in its first customers, spanning from publicly traded companies to soaring startups, in Denmark and the UK.
