Data navigation tool Supersimple raises $2.2M Pre-Seed

Supersimple, a ‘self-service’ business insights platform from Talinn, has raised $2.2M in Pre-Seed funding. The capital will be used to accelerate customer growth and strengthen data searching algorithms.

The platform enables users to navigate complex and exclusive data sets without any code. Designed specifically for teams at B2B SaaS companies to answer their own ad-hoc data questions, it lets team members use natural language processing to go beyond pre-built dashboards and get specific data insights in convenient formats. However, the issue of ‘hallucination’ — wherein models extract false answers from training data — is one that no generative AI service has successfully eradicated so far.

As Big Tech companies attempt to sign exclusive data deals and buy up intelligence to build their generative AI models, protected public access to high-quality data that drives innovation has become driven Europe into steadfast 'for and against' camps. In 2020, Van der Leyen decried the ‘untapped potential' of unused data insights in her European Strategy for Data; Supersimple's collation hopes to bring these painstakingly collected data-points straight to those who can make the most use from them in a way that's easy to understand, relate and question further.

Supersimple was founded after CTO Priit Haamer previously co-founded Sixfold, where other co-founder and CEO Marko Klopets was based already. The AI company merged with Transporeon and later sold for $2 billion. Most of Supersimple’s machine learning engineering team hails from Sixfold.

The round is led by Tera Ventures with participation from Specialist VC and a variety of angel investors that include the former CTO of Twilio and the founders of Sixfold and Grünfin.

“Over the last few years, data warehouses have become ubiquitous and data stacks are better than ever. Yet companies are still struggling to actually make use of their data,” said Eamonn Carey, partner at Tera Ventures. “When I heard Marko explain his vision and I saw the platform in action, it became crystal clear that this is what the future would look like.”