Scoop Analytics, the business analytics tool powered entirely by spreadsheets, today announced it has raised $3.5 million in seed funding. Scoop will use the new funds to expand the features of its solution – the first ever to make it easy for anyone with spreadsheet skills to get data from any application, blend data from different sources and tell visually compelling data stories through slide presentations based on live, drillable data to advance their business.
Ridge Ventures led the round, with Industry Ventures and returning investor Engineering Capital also participating. Yousuf Khan, a partner at Ridge Ventures, is joining Scoop’s board. A former chief information officer, Khan has advised startups like Material Security, Productiv, and Zoom.
Brad Peters, founder and CEO of Scoop, stated, “With the help and additional experience of these partners, Scoop is well-positioned to eradicate the time and money that businesses waste preparing data for business analytics and take our work to empower operations teams in finance, marketing, and revenue to the next level.” In the past, businesses had to invest heavily and spend months establishing data warehouses in order to provide businesspeople with “self-service” data analytics capabilities, which were ultimately quite limited.
Self-service business intelligence is becoming a reality thanks to Scoop’s mission to provide data analytics in a format that eliminates the need for a data team, Khan said. “To further this innovative strategy and strengthen businesses, Edge Ventures is thrilled to collaborate with Scoop and its incredible founders Brad, Janet, and Gabe.”
Experts in the field of business analytics created Scoop. Peters started out at Morgan Stanley as a financial analyst, utilizing spreadsheets. After leaving HBS, he went on to lead Siebel’s analytics product, which served as the foundation for Oracle Business Intelligence following the acquisition. In 2005, he founded Birst by utilizing his expertise in data systems and business intelligence, a concept that was completely novel at the time.
Peters maintained communication with his Birst team, who had also experienced the issues with the traditional data stack firsthand. The visualization team at Birst was led by Scoop co-founder and CTO Gabe Jakobson, who saw what people could do with the Birst product but didn’t have time for. At Birst, where she oversaw SMB go-to-market, Janet Gehrmann, co-founder of Scoop and Head of Customer, heard from hundreds of prospective clients with analytics requirements who were unable to obtain the resources required from their BI teams to put the solution into practice.
The concept for Scoop Analytics, which is based on the novel notion that data-driven decisions can and should be made daily for all members of an organization, was inspired by these customer pain points. Individuals shouldn’t have to
“With the most comprehensive and up-to-date data available, everyone from CEOs to line-of-business leaders should be able to solve problems, but that hasn’t been possible until now,” stated Scott Whitaker, head of finance at Codesmith. Scoop eliminates the need for a data team to set up any infrastructure beforehand by enabling our operations teams and executives to work with any data in our company right away using just their existing spreadsheet skills. It completes the task.
About Ridge Ventures
Founded in 2007, Ridge Ventures is a seed and early-stage venture capital firm investing in founders who are redefining how the world interacts with data and code. Ridge takes a fast, flexible, and founder-focused approach, and backs companies delivering advanced technologies, new distribution models, and incredible user experiences. Find out more at www.ridge.vc.
About Scoop Analytics
Scoop is the only platform that lets revenue, marketing, and finance operations teams action each stage of the data lifecycle. Pull data from any source, blend it from multiple applications using spreadsheets, and present it seamlessly in beautiful, filterable Scoop slides during your Monday morning meetings. It’s also fully automated, freeing you from IT, APIs, imports, and “how old is this data?” Developed by industry veterans who pioneered cloud-based data analytics, Scoop is designed for non-technical business analysts seeking the shortest path from data to decision-making.
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