Cumul.io is a company that provides low-code BI analytics platform to SaaS companies. The aim of the company is to make it easy for these companies to collect data from their apps and integrate that data into near-real time business intelligence (BI) tools. Cumul.io’s funding round was led by Index Ventures, with participation from Accel Partners and JP Morgan Chase & Co.. This new round of funding will be used to expand the company’s customer base and bolster its product offerings.
Cumul.io may not be well-known yet, but the company is certainly making a name for itself in the BI space. Cumul.io functions as a sort of hybrid between established BI players such as Tableau and Looker, but focuses specifically on bringing embedded analytics to SaaS applications. This unique approach allows users to analytics data without having to install any software or make any changes to their existing services.
Embedded analytics is quickly becoming the preferred method for businesses of all sizes to gather and analyze data. This convenience and simplicity is a huge draw for growing companies who want to stay focused on their core competencies.
According to Cumul.io CEO and cofounder Karel Callens, many SaaS users are looking for insights and data to be made available directly inside their core apps, as a native component. This creates a demand for solutions that can be rolled out and marketed quickly, are easy to use, and can be scaled and adapted with minimal effort. These solutions typically require little setup or customization, which makes them affordable and perfect for quick deployment.
Cumul.io is a white-labeled analytics and dashboards platform that helps scale-ups such as Dixa integrate data from just about any source into customizable dashboards for end-users. By connecting data sources, copying snippet of code, and customizing the dashboard, Cumul.io makes it easy for companies to provide crucial insights to their users in a simple and engaging way.
Cumul.io is a unique cloud-based Cumulative Statistics tool that can help businesses track and better understand their business performance. The tool provides users with real-time data
Misconceptions
What sets Cumul.io apart from other comparable data discovery and analysis tools is its reliance on ancillary engineering teams to stitch together their own solutions—rather than relying on a third-party analytics provider. This might appeal to those who have a general aversion to using embedded analytics providers, as it allows them more control and ownership of the data they’re working with.
Some product and engineering teams find that using an embedded analytics vendor provides certain advantages, such as the ability to customize the platform. However, this flexibility can come at a cost: many teams are still unaware of the capabilities of low-code tools nowadays. As more teams start utilizing these tools, they will gradually learn that there is no need to limit themselves when it comes to analytics flexibility.
In light of its fresh funding, Cumul.io plans to bolster its headcount across its offices around the world in order to better serve its North American customers. With over a third of Cumul.io’s revenue coming from the North American market, this investment is clearly bearing fruit as the company looks to maintain and even grow market share.
Cumul.io’s Series A round was led by France-based early stage VC firm Hi Inov-Dentressangle, with participation from Axeleo Capital, LRM, and SmartFin. The round brings cumul.io’s total funding to $5 million and demonstrates the growing interest in blockchain technology among venture capitalists.
