SaaS startup nuvo has closed €3 million in seed capital to further develop the universally applicable AI-powered API for external imports, enabling software companies to effortlessly accept and integrate customer data. Coined as “customer data onboarding”, this process is critical for every company to accelerate time to value, leading to increased user satisfaction and bolstered sales.
The funding round was led by La Famiglia, joined by new and existing investors including FoodLabs, APX and Collective Ventures, Exxeta Ventures and various business angels. nuvo will use the funds to further develop its artificial intelligence algorithms, solidify its position as Europe’s leading solution, as well as continue expanding globally.
nuvo is a SaaS company founded in Hamburg in 2022 by Michael Zittermann and Ben Hartig, which aims to provide the best possible import solutions for onboarding customer data. The idea first arose when they noticed millions of businesses still manually and painfully restructuring messy spreadsheets they receive from clients on a daily basis.
These companies ran into countless reformatting cycles, wasting months of time and internal resources and diverting focus from their own core product. To solve this recurring problem, nuvo began building powerful solutions supported by artificial intelligence to offer businesses a universally applicable platform for mapping and transforming any data into the desired structure and format.
“The complexities involved in onboarding data from various files and structures are enormous. With our AI algorithms, we strive to automatically handle every unique use case, thereby enabling all our customers to transform their external data into valuable assets,” said nuvo CTO Ben Hartig. “Once our SDK is implemented in our client’s application, it covers even the most complex edge case, freeing valuable development resources to focus on building core functionality.”
Since its pre-seed funding in April 2022, nuvo has grown their client base across a variety of market segments to include names like RiskMethods, Sastrify, Lano and FMS Logistics.
Paula Hübner from La Famiglia added: “We believe that file-based data will remain a common denominator in the overwhelming majority of companies – and nuvo has the potential to become a leading platform for heterogeneous data movements.”
Regardless of the industry, security and compliance is also a key factor for data exchange, and nuvo takes this obligation seriously. “Thanks to our unique front-end processing, we naturally adhere to Europe’s strict GDPR laws by not processing any of our customers’ sensitive data. We will continue building the most comprehensive API for file-based data while aiming to be the most secure and compliant solution for our customers,” commented Michael Zittermann, nuvo CEO.
nuvo was initially spun out of a former marketplace business after the founders Ben Hartig and Michael Zittermann noticed the huge amount of time and effort it took their clients to import product-related data into their software product. After building a Proof-of-Concept with a few retail-tech companies, they found that the problem actually occurs across any industry that imports structured data such as Excel, CSV and JSON – and that each would require a similar but adaptable solution, leading to the inception of nuvo.
Read the orginal article: https://www.eu-startups.com/2023/12/hamburg-based-nuvo-gets-e3-million-to-ensure-software-companies-can-effortlessly-exchange-and-integrate-external-data/
