Mindfuel secures €3.75M Seed for data monetisation SaaS solution

Data product management company Mindfuel, today announced the closing of a €3.75 million seed funding round led by Project A Ventures. 

Every organisation aims to monetise its data one day. But many organisations struggle to manage, steer, and monitor their data initiatives across all business functions, resulting in a lack of measurable and meaningful business impact from data.

Data leaders lack comprehensive overviews and transparency of their data investments, making it hard for them to identify and prioritise the most valuable initiatives and justify the return on investment.

Mindfuel's software, Delight, incorporates product management into the data value-creation process. With Delight, AI and data professionals can actively manage their data initiatives from a measurable financial impact perspective and facilitate a goal-oriented conversation between data and business teams. 

The AI-driven portfolio management provides data teams with a clear overview of all their data products, supporting both strategic prioritisation and governance. 

According to Nadiem von Heydebrand, CEO and co-founder of Mindfuel:

"The world of data is lacking the product mindset.

Nowadays, every data leader is challenged to demonstrate the ROI of data initiatives. With Delight, they have everything they need at their fingertips to illustrate their value contribution to the company's strategy and excite stakeholders and C-levels with their efforts."

 D. Florian Heinemann, General Partner at Project A Ventures and new board member at Mindfuel shared:

"Creating measurable value from data and monetising it is at the top of mind for many data leaders in 2024. Mindfuel drives this space and provides essential expertise to empower data leaders within their C-leadership role and board of directors."

Mindfuel supports customers in the insurance, telecommunication, consumer packaged goods, and publishing industries, such as Vodafone, HelloFresh, and Cornelsen, in getting the most out of their data products.

The company's B2B enterprise SaaS solution is being launched in key European markets, including Germany, Austria, the UK, Sweden, Finland, the Netherlands, Belgium, Switzerland, the Czech Republic, Poland, and Iceland. 

The funding round will accelerate the company's go-to-market in Europe and the US and further develop the software with over a dozen enterprise customers in Europe.