Malmö-based startup Occtoo collects €4.6 million in a seed round led by Newion with the participation of existing investors 42CAP and Industrifonden. The startup was founded in 2019 by Niclas Mollin, Jimmy Ekbäck and Daniel Brdarski to help digital teams create relevant customer experiences with speed. Occtoo will use the funding to accelerate expansion, grow the partner network and product development.
Digital transformation and increased agility are top priorities for companies. The current market landscape has also increased the demand to see quicker return on digital investments and an ability to do more with the resources (team and data) companies already have in place. Occtoo’s SaaS-based Experience Data Platform helps them to achieve this.
Gartner predicts that by 2023, 60% of companies seek composability in their tech investments to gain speed and agility. Occtoo is 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.
With Occtoo’s Experience Data Platform a new digital experience/application can be launched within days and easily be scaled globally. Comparing this to companies using legacy technology it would take months or even years to build similar applications with maintenance costs skyrocketing. The solution has become especially popular among upper mid-market and enterprise sized retailers with a need to support their omnichannel sales strategy such as Cartier, Intersport and Nordic Nest.
“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.
“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.
The global digital experience platform market is expected to reach $17.5 billion in 2026 at a CAGR of 12.6%.