Cumul.io, the company behind a low-code business intelligence (BI) analytics platform for software-as-a-service (SaaS) companies, has raised €10 million ($10.8 million) in a funding round from Serie A.
Founded in Belgium in 2015, Cumul.io works in a similar space to well-established BI incumbents such as Tableau and Looker, but distinguishes itself with its focus on bringing embedded analytics to SaaS applications specifically.
Embedded analytics, for the uninitiated, is where companies deliver data reporting and visualizations directly within their software, rather than having to use a separate, stand-alone BI application; This brings convenience and simplicity to growing companies that prefer to focus their resources on their core competencies. .
“More and more users of SaaS products or software platforms expect information and data to be available directly within their core applications, as a native component,” Cumul.io CEO and co-founder Karel Callens told TechCrunch. “SaaS companies are looking for solutions that can be deployed and quickly to market, are easy to use, and can scale and adapt with minimal effort to keep costs down.”
With Cumul.io, its clients, including SaaS extensions backed by companies like Dixa, can integrate white-label dashboards and analytics into their software by connecting almost any data source, dedicated drag-and-drop features to customize their dashboards, and , then copy and paste a code snippet into your app to serve thousands of end users.
Cumul.io in action image credits: Cumul.io
misconceptions
While Cumul.io is certainly comparable to Looker and Tableau in terms of the sphere in which it operates, Callens acknowledges that its most direct competitor is actually engineering teams that may have a general aversion to third-party embedded analytics providers, choosing to bind your own solution instead.
“Many product and engineering teams still have the misconception that using an embedded analytics provider will limit their flexibility, compared to building it yourself,” Callens added. “There’s still a lot of education involved in how powerful and flexible low-code tools can be today.”
So far, Cumul.io had raised around 3.1 million euros ($3.4 million) in funding, and with its new cash injection, the company said it plans to bolster its staff at its Leuven and Genk offices. in Belgium, as well as its New York center. In fact, the company said that more than a third of its revenues already come from the North American market.
Cumul.io’s Series A round was led by French early-stage venture capital firm Hi Inov-Dentressangle, with participation from Axeleo Capital, LRM and SmartFin.