Business intelligence startup Cumul.io just raised €10 million during its Series A funding round to keep moving forward with its mission of empowering software-as-a-business (SaaS) by allowing them to offer highly customizable data-driven dashboards.
This Belgium-based company was founded in 2015 by Karel Callens, Haroen Vermylen, and Thomas De Clerck. According to data from Crunchbase its lead investors were Axeleo Capital and Smartfin.
Before founding Cumul.io, Callens worked as a business intelligence and data analytics expert in two different European firms for more than 8 years. The company he founded is a competitor of well-known platforms such as Tableau and Looker.
What is Cumul.io and How Does It Work?
Cumul.io caters to a growing group of SaaS companies that are looking to create stylish, data-driven dashboards that their users can look at to understand how their services are working.
These companies can incorporate Cumul’s dashboards into their interfaces as part of a reporting module or as a separate feature to be offered to premium users.
“More and more users of SaaS products or software platforms expect insights and data to be made available directly inside their core apps, as a native component”, Callens, who is also the CEO of the firm, stated in an interview with TechCrunch.
He added: “SaaS companies are looking for solutions that can be rolled out and marketed quickly, are easy to use, and can be scaled and adapted with minimal effort to keep costs low”.
What Makes Cumul.io a Unique BI Solution?
One of the things that make Cumul.io stand out from its competition is that nearly no coding is required to build its intuitive dashboards. Instead, SaaS engineers can use a simple drag-and-drop tool to select the data they would like to display on the dashboard and they can tweak the design as needed to make it look as if it was always a part of the company’s user interface.
Cumul.io supports all types of data sources and they can be connected to the company’s solution by using an API. After the data has been incorporated into the system, developers can turn to the editing tool to build the dashboard they need.
Cumul offers multiple subscription tiers starting with the Basic package, which costs $1,150 per month or $950 per month if paid annually. This basic package allows developers to create an unlimited number of dashboards but only supports 100 monthly active viewers and only one designer can be logged in at a time.
One of the most important hurdles to overcome to persuade more customers to turn to their solution is the misconception that using third-party software will limit the flexibility that engineers would have to create insightful and data-driven customer-facing dashboards.
However, Cumul already has a decent number of positive case studies with companies including Dixa, Proximus, and Unifiedpost, all of which have embraced the firm’s solution successfully
More Information About the Business Intelligence (BI) Industry
Cumul.io is a player in the up-and-coming business intelligence (BI) industry. In 2021, this industry reportedly generated $24 billion in revenue and it is expected to produce twice that much 5 years from now, growing by 8.7% on average every year.
This company belongs to the data visualization and storytelling segment of the market, which is used to inform users. Companies such as Tableau compete with Cumul.io to deliver this kind of service.
The increased reliance on cloud-based solutions, the growing popularity of big data analytics, and technological advancements in the fields of machine learning and artificial intelligence (AI) are tailwinds that could further help companies like Cumul.io advance their mission.
Meanwhile, the cost of creating and running cloud-based BI software is still quite high and companies have to figure out how to make services that are both highly effective but also affordable to companies in the SaaS space, most of which are constantly looking to save money.