Cumul.io, the corporate behind a low-code enterprise intelligence (BI) analytics platform for software-as-a-service (SaaS) firms, has raised €10 million ($10.8 million) in a Sequence A spherical of funding.
Based out of Belgium in 2015, Cumul.io works in an analogous area to well-established BI incumbents comparable to Tableau and Looker, however units itself aside with a deal with bringing embedded analytics to SaaS functions particularly.
Embedded analytics, for the uninitiated, is the place firms supply information reporting and visualizations straight inside their software program, relatively than having to make use of a separate, standalone BI software — this brings comfort and ease to rising firms that might relatively focus their assets on their core competencies.
“Increasingly customers of SaaS merchandise or software program platforms count on insights and information to be made out there straight inside their core apps, as a local element,” Cumul.io CEO and cofounder Karel Callens defined to TechCrunch. “SaaS firms are searching for options that may be rolled out and marketed shortly, are straightforward to make use of, and might be scaled and tailored with minimal effort to maintain prices low.”
With Cumul.io, its prospects — which embrace venture-backed SaaS scale-ups comparable to Dixa — can combine white-labeled analytics and dashboards into their software program by connecting nearly any information supply, drag-and-drop particular options to customise their dashboards, after which copy-paste a snippet of code into their software to serve 1000’s of end-users.
Cumul.io in motion Picture Credit: Cumul.io
Misconceptions
Whereas Cumul.io is actually corresponding to the likes of Looker and Tableau by way of the sphere through which it operates, Callens reckons its most direct competitor is definitely engineering groups who may need a normal aversion to third-party embedded analytics suppliers, selecting to sew their very own answer collectively as an alternative.
“Many product and engineering groups nonetheless have the misunderstanding that utilizing an embedded analytics vendor will restrict their flexibility, in comparison with constructing it out on their very own,” Callens added. “There’s nonetheless numerous training concerned on how highly effective and versatile low-code instruments these days might be.”
Before now, Cumul.io had raised round €3.1 million ($3.4 million) in funding, and with its contemporary money injection the corporate stated that it plans to bolster its headcount throughout its workplaces in Leuven and Genk in Belgium, in addition to its New York hub. Certainly, the corporate stated that greater than a 3rd of its income already emanates from the North American market.
Cumul.io’s Sequence A spherical was led by France-based early stage VC agency Hello Inov-Dentressangle, with participation from Axeleo Capital, LRM, and SmartFin.
