The Belgian startup Cumul.io just secured €10 million in funding to foster confident business decisions through improved data governance and analytics. The team has been rapidly expanding, and it currently includes offices in New York and Genk in addition to its current location.
Hi Inov-Dentressangle was the lead investor in the Series A financing round that raised €10 million. Along with them were seed investors Axeleo Capital, LRM, and SmartFin.
We live in a world that is driven by digital data, and organizations must take advantage of this to succeed. Data is being gathered by businesses at a never-before-seen rate, and it can offer significant insights into business outcomes. However, getting the data, interpreting it, and distilling it into useful insights and pertinent business intelligence isn’t always an easy operation; it can be time-consuming and require specialized knowledge.
With the help of its low-code embedded analytics platform, Cumul.io seeks to change this. The firm has just obtained additional funding to expand and build up the platform.
Cumul.io, a company founded in 2015, offers a plug-and-play data analysis platform with easy integration into existing SaaS platforms or apps. Karel Callens, Haroen Vermylen, and Thomas De Clerck developed it intending to enable organizations to make informed decisions by gathering practical and interactive insights in one location.
All organizations are evolving into data-driven software firms in today’s environment, according to Karel Callens, CEO, and Co-Founder of Cumul.io. But the information that drives these businesses needs to be presented in a clear and accessible way in the highly competitive business world of today when cost and time efficiency are crucial.
No of their level of technical expertise, any business user can create incredibly compelling customer-facing dashboards using our low-code building block approach to analytics. We think our platform, Cumul.io, which was created from the ground up to reimagine what confident decision-making looks like, is prepared for widespread adoption.
The embedded analytics market is anticipated to expand to $95.78 billion globally by 2026 at a CAGR of 14.2%, driven by enterprises increasingly seeking valuable insights inside applications rather than traditional BI setups.
Cumul.io is already entering this sector and establishing itself as a prominent player, serving over 240 SaaS companies worldwide, including Dixa, FastSpring, WorkMarket, and Selligent, spanning 37 countries.
The difficulty is knowing what to do with all the data that businesses are gathering, according to Wolfgang Krause, the managing partner at Hi Inov-Dentressangle. Data is transformed into useful insights through analytics, however, methods for constructing analytics based on conventional Business Intelligence (BI) or self-developed solutions are resource-intensive and necessitate specialized knowledge.
“After removing this complexity, Cumul.io’s user-friendly approach to embedding analytics is unseen in other solutions and is precisely where the B2B SaaS industry has been having trouble,” Wolfgang continued.
The business was founded in Leuven and maintains its headquarters there, in addition to having locations in New York and Genk. The team hopes to expand with the help of this additional cash and broaden its reach internationally.
With more than a third of its income already coming from North America, market expansion outside of Europe will unavoidably be a top priority.
In addition to substantially enhancing the platform’s usability, strong performance, and greater scalability, Cumul.io wants to increase its analytical capabilities.
Image Credit: Cumul.io
