Stockholm-based analytics platform Steep, which provides all collected data to every employee, has raised €4 million led by Connect Ventures along with existing investor Inventure. The fresh funding will enable Steep to further develop its product and grow its workforce.
- Co-founded in 2021 by Johan Baltzar and Nino Höglund, Steep develops an analytics platform for the entire organization, consolidating all metrics in one place, enabling easy analysis without SQL or training, and assisting teams in answering their own questions.
- Steep released its new AI-enabled interface, making data exploration more engaging and efficient. It allows users to write in natural language, generate relevant charts, and share or save reports.
- Steep’s team is comprised of analysts, designers, and developers. The startup is utilized by several firms, including VOI, Stravito, Once Upon, Frever, and Bounce.
Details of the deal
- The investment was led by Connect Ventures, a London-based venture capital firm that backs startups focusing on B2B, SaaS, financial technology, consumer software, and digital health sectors. The firm’s portfolio consists of 78 companies, including Dust, Torg, Belong, Truelayer, Lifebit, and Faks. Connect Ventures has had 39 successful exits, including Bellman, Citymapper, and Ourspace.
- The fresh funding saw participation from existing investor Inventure, a Helsinki-based VC, as well as Oslo-based Alliance VC, Antler, and Stocklom-based Greens Ventures.
- With the capital raised, Steep plans to grow its workforce, accelerate product development, and reach more companies internationally.
