As COVID-19 fast-tracks digital transformation, this Swedish startup is helping companies to adapt quickly; secures €2.1M

The COVID-19 has fast-tracked digital transformation. Businesses no longer have the luxury to be old-school, as the pandemic has pushed the customers to spend their money online; thereby causing the surge in ecommerce. Businesses, therefore, have to adapt quickly to new customer behaviour, which can be quite stressful. Occtoo, a Swedish startup, is helping companies to quickly build customer experience applications, suitable for all channels. 

Raised €2.1M

Recently, the Malmö-headquartered startup raised €2.1M in seed funding led by Münich based 42CAP and Sweden-based Industrifonden. The company will use the funding to accelerate its product development, recruitment in the go-to-market teams as well as international expansion.

“Occtoo helps companies to quickly build new digital customer experiences, deploy new sales channels, and launch new business models. Too many companies struggle when trying to innovate or react to new market circumstances because their technology is holding them back. Occtoo fast forward companies’ digital initiatives and something that previously took months to launch can now be done in days. We are very happy to partner with experienced investors that see the same opportunity as us,” says Niclas Mollin, CEO and co-founder, Occtoo.

The 42CAP investors Alex Meyer and Thomas Wilke invest in seed stage companies with global ambitions. They support data-and technology-driven business models, product-focused founders and sustainable venture development. 

Industrifonden is a Nordic venture capital investor based in Stockholm, Sweden. It invests in breakthrough technologies and science-based innovation. The investor’s portfolio includes companies like Funnel, Oatly and Nextory. 

Unify all experience

Founded in 2018 by Niclas Mollin, Jimmy Ekbäck, and Daniel Brdarski, Swedish startup Occtoo helps customers to unify all experience data and make it accessible in real-time in any frontend of choice. 

Built on a modern server-less SaaS-based architecture, the Swedish company delivers predictive & personalised content in real-time based on customer insights, third-party segmentation data, and geo-location, creating personalised user experiences.

According to an IDC report, over 500 million apps will be deployed using cloud-native technology with the majority of them being custom applications developed by companies to increase differentiation. 

Offers more than real-time APIs

The Swedish company claims that a new application through its technology can be launched within days compared to the traditional solution, which takes months. Notably, the company also offers pre-packed business applications and feeds, besides real-time APIs. The company’s technology is used by companies such as Cartier, Intersport, Fjällräven and Filippa K.

Jimmy Ekbäck, Co-founder and CTO at Occtoo, says “With Occtoo you don’t have to rip and replace core technology systems that handle business processes which most of the time is a very painful and costly exercise. Instead, Occtoo opens this up, making the necessary data easily accessible for marketers so they can spend less time integrating data and more time being creative with data. This also makes marketers more autonomous and less dependent on the IT department empowering them to innovate where it before was impossible to do so.”