Leuven, Belgium & New York, United States, 17 January 2023 – Cumul.io today announced it has raised €10M Series A financing to capture global demand for its low-code embedded analytics platform that drives quicker and more confident business decision-making. The round was led by Hi Inov-Dentressangle, with returning participation from seed investors Axeleo Capital, LRM, and SmartFin.
Wolfgang Krause, Managing Partner at Hi Inov-Dentressangle, said, “Businesses are accumulating more data than ever before, but the challenge is knowing what to do with it. Analytics transforms data into actionable insights, but approaches to building analytics centered around traditional Business Intelligence (BI) or home-grown solutions are resource-intensive and require specialist skills. Stripping away this complexity, Cumul.io’s user-friendly approach to embedding analytics in software platforms, web apps, or public websites is unseen in other solutions and is precisely where the B2B SaaS segment has been struggling.”
Driven by businesses increasingly looking for meaningful insights inside applications rather than traditional BI environments, the embedded analytics market – which covers the seamless integration of analytics features into any business application – is projected to grow to $95.78 billion globally by 2026. Serving over 240 SaaS companies worldwide, including Dixa, FastSpring, and Selligent, Cumul.io is already answering this demand. Its intuitive, low-code drag-and-drop interface enables product managers and customer success teams to build an engaging interactive analytics experience without intervention from engineering. The platform brings product data to life with visually appealing dashboards that customers can digest and understand instantly and seamlessly as part of their daily workflows.
Reflecting the rapidly growing need for fast, confident business decision-making, Cumul.io has raised over €13M to date. Headquartered in Leuven, Belgium, with offices in New York and Genk, the Series A financing will be used to further augment its global team of over 40 people with experienced specialists across all areas of the business. With more than a third of its revenue already generated in North America, the recruitment drive will support continued growth efforts and adoption in international markets beyond Europe. The company plans to increase the platform’s analytical power, in addition to further improving ease of use, robust performance and increased scalability.
“In a world that is now almost entirely powered by technology, all businesses are becoming data-driven software companies. But in today’s highly competitive business environment where cost and time efficiency is critical, the data driving these companies need to be presented in a simple and understandable manner,” explained Karel Callens, CEO and Co-Founder, Cumul.io. “Our low-code building block approach to analytics offers a simple, yet powerful way for any business user, regardless of technical skillset, to create highly engaging customer-facing dashboards. Cumul.io has been built from the ground up to redefine what confident decision-making looks like, and we believe our platform is ready for mass adoption.”