Oneio Enhances Cloud Integration With $7.85M Infusion

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Oneio, an integration services provider based in Helsinki, Finland, has raised $7.85 million to build its platform, expand across Central Europe and North America and grow its team of approximately 45 employees.

The company’s cloud-based integration platform provides both internal and external IT and technology service providers with a way to collaborate between customers, suppliers, vendors and subcontractors. Oneio has approximately 75 customers, including service providers such as CGI, CDW, Bechtle, Cancom, Atos, TietoEvry and companies such as Bayer, Volkswagen and Schindler.

The company has a long history, but is just starting to grow to take advantage of the burgeoning need to connect the dots between different apps. Founders Juha Berghäll, Janne Kärkkäinen, Kai Virkki and Olli Nuortila started Oneio in 2010 to solve business integration challenges. The company started out as a consultancy to help enterprise IT and IT service providers implement business-to-business integration projects.

“We were in a constant battle between finding the best possible solution for our customers and charging for the complexity and vendor lock-in caused by the technologies they were using,” Berghäll told VentureBeat. The integration technologies at the time were complex and expensive, difficult to maintain, and the delivery models old-fashioned.

Realizing that it couldn’t solve its customers’ integration problems with advice alone, the team turned it into a product-driven SaaS company in 2015. “We wanted to break through current business models to provide an enterprise-grade cloud service with an affordable pay-per-use pricing model,” Berghäll said. So the team built a cloud integration automation platform as a cloud-native no-code solution that combined automation and AI to automate integration development and management tasks.

Different areas of cloud integration

The company plays in the confusing landscape between companies that provide integration functionality as a service and service providers that code custom integrations. Oneio combines aspects of its integration automation technology with a service provider offering.

The company has three types of competitors: Integration platform-as-a-service (IPaaS) providers such as MuleSoft, Boomi, Celigo and Jitterbit help enterprises build their own integrations more efficiently; integration developers implementing custom integrations using traditional manual approaches; and some IT service providers that include integration services as part of their offerings.

“Rather than trying to build and maintain IT process and data integrations on an integration platform, enterprise IT and service providers choose our solution where they can simply subscribe to the integrations they need,” said Berghäll,

Oneio claims to set up complex multipoint process integrations in days, compared to the weeks or months required with more manual approaches. It also offers an integration service level agreement with a 100% integration success guarantee.

The Swedish investment company Fairpoint Capital led the financing round. This builds on previously unannounced bridge funding raised by Tesi and Inventure during the pandemic.

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