On a mission to drive confident business decisions through better data oversight and analytics, Belgium startup Cumul.io has just raised €10 million. The team has been growing fast, with offices also in New York and Genk, and now plans to scale further.
It’s a digital data-driven world that we’re living in – and that’s what businesses need to leverage to become successful. Businesses are gathering data at an unprecedented rate and it can provide powerful insights for business outcomes. However, accessing the data, analyzing and breaking it down into actionable insights and relevant business intelligence isn’t necessarily a simple task, rather it can be resource-intensive and require specialist skills.
Cumul.io is aiming to change this, offering a low-code embedded analytics platform. The startup has just secured new funds to develop the platform and scale.
Funding details
- €10 million raised in Series A financing
- The round was led by Hi Inov-Dentressangle
- Existing seed investors Axeleo Capital, LRM, and SmartFin also participated
Founded in 2015, Cumul.io provides a plug-and-play platform for data analysis with seamless integration into other SaaS platforms or applications. It was founded by Karel Callens, Haroen Vermylen and Thomas De Clerck to empower businesses with confident decisions by bringing actionable and interactive insights into one place.
Karel Callens, CEO and Co-Founder, Cumul.io: “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 needs to be presented in a simple and understandable manner.
“Our low-code building block approach to analytics offers a simple, yet powerful way for any business user, regardless of technical skillset, to build 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.”
Driven by businesses increasingly looking for meaningful insights inside applications rather than traditional BI environments, the embedded analytics market is projected to grow to $95.78 billion globally by 2026 at a CAGR of 14.2%. Serving over 240 SaaS companies worldwide including Dixa, FastSpring, WorkMarket and Selligent, across 37 countries, Cumul.io is already tapping into this market and establishing itself as a key player.
Wolfgang Krause, Managing Partner at Hi Inov-Dentressangle: “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 is unseen in other solutions and is precisely where the B2B SaaS segment has been struggling.”
Born in Leuven, and with headquarters still there, the company also has offices in New York and Genk. With this new funding, the team aims to grow the team and step up its international reach. With more than a third of its revenue already generated in North America, a priority will inevitably be to expand beyond the European market. Cumul.io also plans to increase the platform’s analytical power, in addition to further improving ease of use, robust performance and increased scalability.
