Supersimple closes on $2M pre-seed round to deliver big data insights with explainable AI

Estonian startup Supersimple Technology OÜ has created what it says is a “super easy” artificial intelligence-powered data analytics platform for business staff, and now it’s trying to speed up its growth after landing $2.2 million in pre-seed funding.

Today’s round was led by Tera Ventures and saw contributions from Specialist VC, Tiny VC and various angel investors, including the previous chief technology officer of Twilio Inc. and the founding father of Grünfin AS.

The startup’s AI-native data analytics platform is claimed to meld a semantic data modeling layer with sophisticated “explainable AI” techniques to offer a reliable and consistent stream of data-informed business insights. Because the name suggests, it’s designed to be easy to make use of, aimed especially at business-to-business software-as-a-service firms, letting them answer their very own ad-hoc data questions and surface the insights they should make higher decisions.

Supersimple reckons that many organizations are still struggling to acquire insights from their data, even with today’s modern data stacks. One in all the foremost reasons for that’s the complexity of massive data tools, which could be difficult to navigate and use. Supersimple says its platform is super-simple since it avoids the complex dashboards related to other data analytics tools that require a certain skill set to navigate, meaning even the least technical staff can use it.

In keeping with the startup, advances in data warehouses and AI have made it possible for it to design a completely recent experience that makes it easier to detect and explain useful business insights.

The startup said it’s a firm believer in transparency, and to that end its AI models are based on the concept of “explainable AI,” which refers to algorithms whose actions can easily be understood. It contrasts with the “black box” approach of enormous language models equivalent to OpenAI’s ChatGPT, which use opaque algorithms that make it unimaginable, even for its creators, to clarify the way it got here to a certain decision or conclusion.

With this approach, Supersimple says, it will possibly explain every step it has taken to reach at its end result. Meaning there’s much less risk of AI “hallucinations,” which occur when AI algorithms simply make stuff up.

Supersimple reckons explainable AI is essential to make sure trust in data-based insights, and it goes further too, also supporting follow-up questions in natural language, so users can make clear anything they don’t understand. With traditional data analytics platforms, users have to have knowledge of technologies equivalent to Structured Query Language or Python to get this sort of additional context.

Co-founder and Chief Executive Marko Klopets says Supersimple is the antidote to the static dashboards and bland, ChatGPT-style chat interfaces that dominate today’s business intelligence landscape.

“A lot of the value in data doesn’t come from watching a dashboard, but as an alternative comes from deep, specific questions, testing hypotheses, exploring and iterating,” he said. “Supersimple was built around this insight to assist teams at all times have the proper information to make great decisions.”

The startup believes its approach will enable it to turn out to be way more than simply an information analytics platform. “Making structured data from data warehouses accessible and usable is step one toward Supersimple becoming the operating system of the fastest-growing firms,” he said.

Holger Mueller of Constellation Research Inc. said AI is transforming almost every area of enterprise software, and the information analytics field is a main goal for its capabilities.

“Supersimple is innovating with AI analytics to make business intelligence more accessible to on a regular basis users, in a more intuitive way based on using natural language,” the analyst said. “What’s clever is it’s using AI not only to handle the queries, but in addition to clarify the insights and findings it delivers through its platform. It’s a small funding round as $2.2 million doesn’t go far nowadays, however it’s enough to provide Supersimple a head start because it bids to vary the longer term of labor.”

Tera Ventures Partner Eamonn Carey said that although data warehouses and data stacks are ubiquitous and higher than ever, most persons are still struggling to extract maximum value from their data. “After I heard Marko explain his vision and I saw the platform in motion, it became crystal-clear what the longer term would seem like,” he said.

Supersimple will use its pre-seed funding to grow its customer base and deliver recent advances in explainable AI, the CEO added. His team has loads of experience in growing startups. Klopets, together with co-founder and Chief Technology Officer Priit Haamer, previously co-founded Sixfold.

Image: Supersimple