“Next-generation analytics platform” Steep raises €1 million via Alliance Venture and Inventure

Stockholm-based Steep has raised €1 million in pre-seed financing and opened the taps on what the startup bills as its “next-generation analytics platform”. The funding is expected to help facilitate the company's product launch across European and US markets in tandem with continued product development, and a recruitment drive.

The round was co-led by Alliance and Inventure, The Nordic Web Ventures, Antler, Spotify alumni network Greens, and a host of angel investors, including Åsa Lidén (COO at Pitch), Peder Stahle (CPO at Kry), Carl Pei (Co-Founder Nothing), and angel collective Framtid participating.

The modern data stack has dramatically altered the collection and cleaning of data. But having data is not enough. The real value is getting it out to all the right people across an organisation at the right time, a problem that is the last mile of analytics. With the status quo hovering around solutions that are either too technical or non-intuitive to use, workers are in constant need of the analytics team to help find and interpret the data.

Where Steep is turning left where others are turning right is with a product that is easy and intuitive to use, where users can customise their dashboards with ready-made widgets and can freely explore and analyze whatever KPIs they want. 

For instance, this will help teams stay on top of relevant metrics, allowing them to comment on and discuss specific trends in real time. It enables a structured and opinionated approach to analytics where a few data experts can efficiently serve a vast organization and remove the bottlenecks in building data-driven companies.

"There is a macro trend for workplace SaaS to go from singleplayer and specialist to multiplayer and to involve all roles in the process. Figma has shown this clearly in the design space, where designers are now iterating fluidly with product and tech roles that are deeply involved from start to hand-off. We believe the time is now to make the same journey for the analytics space," said Steep co-founder and CEO Johan Baltzar. "That is why we are very proud to have Alliance and Inventure and a handful of influential angels join Steep's ambitious mission and be part of our journey building the next-generation analytics product for the modern workplace."