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Today, quick and accurate analytics is the need of the hour. Companies want reliable insights for decision-making and are all in on BI tools, like Tableau, or internally built solutions for the task.
Now, while most of these platforms do the job well, companies often find them incomplete, as they don’t integrate fully with SaaS platforms. Teams, especially big ones, have to put in a lot of time, effort and resources to set up, scale and use these products. Plus, they have to leave their core business application to gain access to good data insights — which adds friction to the process.
Cumul.io’s embedded analytics
To address the challenge, Belgian startup Cumul.io provides enterprises with a low-code, drag-and-drop tool that enables teams to embed analytics in software platforms, web apps, or public websites without intervention from engineering. The company today announced it has raised $11.8 million in a series A round led by Hi Inov-Dentressangle.
The solution, as the company explained, integrates with the app/frontend technology or data sources — without lock-in — and makes insights directly available inside the product, as a core component.
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“An open API allows users to quickly build dashboards that can be customized to personal needs and create custom events or communicate with other products across the tech stack,” Karel Callens, Cumul CEO and cofounder, told VentureBeat. “As an example, for businesses gathering huge volumes of data that currently sits in static or generic dashboards, Cumul.io provides a way to offer analytics that can be embedded inside a SaaS product to keep customers engaged inside their own platform.”
While traditional analytics offerings like Tableau, Power BI, Sisense and Looker still continue to grow strong, Cumul claims to have drawn decent traction with its offering. The company says it works with close to 240 enterprises in 37 countries, including Selligent Marketing Cloud, Proximus, Dixa and Sellsy.
With this round, which also saw the participation of Axeleo Capital, LRM, and SmartFin, the company plans to grow its international footprint. Currently, a third of its revenue comes from North America, and the goal is to go “above and beyond” into other markets. In addition, the company will work to strengthen its platform’s analytics.
“Specific plans for the product are to increase the platform’s analytical power, in addition to further improving ease-of-use, robust performance and increasing its scalability,” said Callens. “Over the next twelve months, Cumul.io will be releasing a range of different capabilities covering performance and modular analytics.”
According to Mordor Intelligence, the global embedded analytics market was valued at $36.08 billion in 2020 and is expected to hit $77.52 billion by the end of 2026, with a growth rate of 13.6%
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