Cumul.io, which is behind a low-code business intelligence (BI) analytics platform for software-as-a-service (SaaS) companies, has officially raised $10.8 million during a Series A round of funding, led by France-based early stage VC firm Hi Inov-Dentressangle, with participation from Axeleo Capital, LRM, and SmartFin.
Cumul.io was founded back in 2015 differentiates itself from the competition by focusing on bringing embedded analytics to SaaS applications specifically.
“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,” Cumul.io CEO and cofounder Karel Callens said, according to TechCrunch.
“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” Callens added. “Many product and engineering teams still have the misconception that using an embedded analytics vendor will limit their flexibility, compared to building it out on their own,” Callens added. “There’s still a lot of education involved on how powerful and flexible low-code tools nowadays can be.”
Cumul.io had raised around $3.4 million in funding prior to this raise.