Estonian start-up LiTech, developing a data observability solution to help companies save hundreds of thousands, has raised €500,000 from investors to expand into Europe and further develop the application.
The world of data is constantly evolving, and it can be challenging for businesses to keep up with the rapid pace of change. More and more companies rely on data to drive their decision-making, and the need for accurate, reliable data will only become more crucial. LiTech, an Estonian startup developing a data observability solution, has raised €500,000 from investors to further develop the application and enter new markets.
“We are glad to have strategic investors on board to grow our business and expand into the Nordic and Baltic markets. In addition to the raised capital, we have also brought in a strong development partner, with whom we are working together to develop a cloud-based platform for our application, allowing us to expand our market and offer our services to new customer segments,” said Raiko Limmart, CEO, and co-founder of LiTech. With their innovative solution, LiTech helps customers ensure that the decisions they make are based on accurate and trustworthy data.
With their cutting-edge technology and a team of experienced professionals, LiTech has the potential to revolutionize the data observability industry. Their product is already gaining traction in the market, with a growing number of satisfied customers who have seen firsthand the benefits of using LiTech’s platform.
“As an investor, I see that LiTech has a clear vision for the future, and is focused on developing its product to meet the ever-changing needs of the Data Observability market. I am delighted by the opportunity to be part of this journey,” said Gert Lõhmus, investor and advisor to the company.
LiTechs journey began in late 2019 when it became clear that companies are struggling with validating data in large and rapidly changing databases, building complex in-house solutions to try to deal with issues in data. LiTech was founded from personal experience to provide companies with a solution to detect errors and anomalies in data, monitor data integrity and improve data quality. During the next couple of years they researched the market and bootstrapped the company to develop the platform while working closely with customers in Estonia.
“We can see a growing need for companies to validate and manage data to ensure that their processes and systems are functional. In Estonia, we are already working with government and financial institutions, as well as several other companies, to identify critical errors in data before they have any negative impact on the company or its processes. We have already taken the first steps to enter new markets and are planning cooperations with new users,” added Limmart. For example, in Estonia, LiTech is helping the local government entity Centre for Registers and Information Systems and the biggest Estonian telecom operator Telia to manage data quality.
LiTech’s data quality management tool is an easy-to-use, automated, and secure platform for data quality management. It is used as a collaborative platform by data teams for data testing, profiling, and monitoring. LiTech works closely with its customers to provide the best solution for their data and integrate data validation into internal processes and data pipelines.