Observed Signal · Jul 3, 2024 · Funding · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
Swedish Analytics Startup Steep Raises €4M Seed Round
Stockholm-based analytics startup Steep has raised €4 million in a seed round led by Connect Ventures, with participation from existing investor Inventure as well as Alliance VC, Antler, and Greens. The company offers business intelligence tools that let organizations build a shared catalog of metrics, enabling non-analysts to run analyses and create reports. The new funding will be used to accelerate product development and help Steep reach more companies globally. Steep also announced an AI-enabled interface that allows users to input data requirements in natural language and then explore, share, or save generated charts to a report. Customer Voi confirmed it has adopted Steep to replace legacy BI tools. Connect Ventures said its investment decision was driven by Steep's user-centric product, the large BI market, and the semantic layer shift in data infrastructure.
Seed funding for an AI-enabled business intelligence startup highlights continued investment in analytics and data infrastructure; relevant to MarTech and enterprise data platforms, but the impact on the AdTech industry specifically is limited.
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Key Takeaways & Evidence Grounding
- Stockholm-based analytics startup Steep raised €4 million in a seed round.
- The round was led by Connect Ventures, with participation from Inventure, Alliance VC, Antler, and Greens.
- Steep is launching an AI-enabled interface that lets users query data using natural language.
- Steep's platform enables companies to create a catalog of metrics for analysis and reporting by all users.
- Steep counts Voi as a customer using its platform instead of legacy BI tools.
Connected Companies & Entities
1 Entity mapped“The round was led by Connect Ventures, along with existing investor Inventure, and participation from Alliance VC, Antler, and Greens....”
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