Armed with a plan to unlock the power of field data, Captego has just raised €2 million of fresh capital. The Copenhagen-based startup is bringing powerful data-driven oversight on what is happening on-site to empower better decision-making processes.
Sustainability and digitalization have been two factors shaping, transforming and influencing industries over the past couple of years. While some markets have naturally gone digital faster than others, there are few sectors immune. Aiming to bring data-driven digital tools to the field, Copenhagen-based Captego is on the case.
The startup, founded in 2018, has created a pioneering way to unlock the value of field data, giving the industries that have been a bit hesitant to tech-first approaches enhanced oversight and optimized processes. The disruptive team has now just raised new funding and is set to soar.
The details
Captego has announced its €2 million seed round. It was led by ALFA Ventures (the venture arm of ALFA Development), with participation from Vaektsfonden (part of the Danish state’s investment fund).
Building on its recent success, the investment allows Captego to meet growing demand from new international markets, enhance its technology capabilities and build out its team, as the firm establishes the market’s first ‘field data engine’.
In addition to the funding, the company also just announced a new CEO – Jeremy Sparrow. Formerly the head of Renaissance Capital (Asia), Jeremy brings a wealth of experience to the role and will help drive forward ambitions.
Bjarke Bentzen, Co-Founder and Head of Customer Success: “At Captego, we are building a category-defining solution that finally unlocks the true value of field data. We are thrilled to have investors that share our bold vision and are committed to supporting Captego at this early stage. With ALFA Ventures and Vaektsfonden on board, we will be able to expand our presence across the continent and continue building on our world class technology. I’m also excited to bring a high caliber CEO to the company in Jeremy. His vast global experience will be invaluable as we scale up across Europe and beyond”.
Accessible onsite data
Launched in 2018, Captego has been built to make it possible for firms across the property, engineering, utilities and insurance to have complete control over what is happening onsite. It means that decision-makers, who were previously without such rich data, can now make more informed decisions.
Anders Dalskov, CEO at ALFA Ventures, comments: “The real estate industry is undergoing transformation when it comes to sustainability and digitization. With ALFA Ventures, we want to be part of the solution by supporting the companies we believe can lead the way in this transformation. Captego is a very good example of this with their platform that both simplifies but also raises the quality of the important inspection process. We observe significant efficiency improvements and a significant lift in data quality for customers using Captego. The potential for Captego is enormous – not only within the property industry but also within a wide range of other industries. We are proud to have had the opportunity to support Captego and look forward to rolling up our sleeves with the amazing team behind Captego.”
Described as the ‘Field Data Engine’, Captego’s platform increases the speed, quality and control across data-driven organizations by making data management as easy as taking a photo, to unlock powerful reporting and smarter decision making. It’s claimed that using Captego will save operatives collecting field data up to 4 hours each day, before organizing, structuring and enriching that data onto live dashboards, to provide the only complete picture of what is happening onsite at all times – a game changer for the market.
The tool can also create tailored reports and live field data, giving managers complete control at all times. It also integrates with internal tools to easily connect workflows and deliver powerful data-driven insights, through visualization and analysis.
Operating across the UK and Europe, the firm is an accredited RICS tech partner and is already trusted by the likes of DCC Shell, Marsh and Milton Homes. Now, the company wants to expand by building out its team and spreading to new markets.
Jeremy Sparrow, CEO, said: “Field professionals have lost too much time and for far too long. We’re here to change that. Our latest funding marks an exciting time for Captego as we build on our success in the homebuilding and telecoms sectors, into new verticals and markets. Thanks to our investors in this seed round, it unlocks our ability to scale across Europe and truly redefine how field data is collected, managed and actioned”.
Johan Bitsch Nielsen, Investment Manager at Vaekstfonden, added: “Vaekstfonden seeks out Danish companies that Denmark cannot afford to miss out on. With an innovative platform and potential to redefine the inspection business, Captego is clearly one such company. The Field Data Engine is a simple yet ingenious product that will save colossal amounts of time for users, whilst improving data visibility. We are proud to help fund a shining example of Danish ingenuity and are excited about the potential widespread adoption of the platform across several key markets.”
