Scoop Analytics, the business analytics tool powered entirely by spreadsheets, 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.
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The round was led by Ridge Ventures, with participation from Industry Ventures and returning investor Engineering Capital. Ridge Ventures partner Yousuf Khan is joining Scoop Analytics’s board. Khan is a former CIO and has been an advisor to early-stage companies such as Material Security, Productiv and Zoom.
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“With the support and added expertise of these partners, Scoop is strongly positioned to eliminate the wasted time and money companies spend preparing data for business analytics and take our work to empower operations teams in finance, marketing and revenue to the next level,” said Brad Peters, founder and CEO of Scoop. “Companies traditionally had to make large investments and spend months setting up data warehouses just to give businesspeople ‘self-service’ data analytics capabilities that were ultimately very limited. It was incredibly painful. Scoop now makes it extremely easy for anyone with spreadsheet skills to access, combine and use data to bring data stories to life in a way that is repeatable and automated – and they can do it all without a six-figure minimum commitment or the involvement of a data team.”
Scoop Analytics was built by veterans in the business analytics space. Peters began his career using spreadsheets as a financial analyst at Morgan Stanley. He then went to HBS and later led the analytics product at Siebel, which became the basis of Oracle Business Intelligence after the acquisition. He leveraged his knowledge of business intelligence and data systems to start Birst in 2005, introducing an idea that was entirely new at the time – that data-driven decisions should happen every day. That’s why Gartner, Forrester and others considered Birst, which made sophisticated analytics accessible to a much broader audience, a revolutionary product. Before that, it was extremely complicated and labor-intensive for companies to use data to make strategic decisions.
About Scoop Analytics
Scoop Analytics 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.
