Total amount raised
$46.7 Million
Latest funding date
06/01/2024
Location
Cube Dev has successfully raised funding over three rounds, with the latest being a Series B round involving six investors, including Databricks Ventures as one of the lead investors. The company is backed by a total of 13 investors, with notable names such as Eniac Ventures and Bain Capital Ventures.
Cube Dev offers an analytical application platform designed to help companies manage and optimize their analytics workflow. Keep reading to explore the intricacies of Cube Dev's fundraising journey and the investors backing this innovative platform.
What Is Cube Dev?
Cube Dev is a private company based in San Francisco, California, specializing in analytics, business intelligence, developer APIs, developer tools, and SaaS. The company provides an analytical application platform designed to help companies manage and optimize their analytics workflow.
Founded with the aim of enhancing data management, Cube Dev employs between 11 and 50 people. The platform is known for its universal semantic layer, business intelligence, and embedded analytics, allowing the deployment of AI agents to model, analyze, and report on data efficiently.
How Much Funding Has Cube Dev Raised?
- Seed Round
- Amount Raised: USD 6,200,000
- Date: September 2020
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of Cube's analytical application platform and establish a market presence.
- Series A
- Amount Raised: USD 15,500,000
- Date: July 2021
- Lead Investors: Decibel Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the development team and enhance the platform's capabilities, focusing on scalability and performance.
- Series B
- Amount Raised: USD 25,000,000
- Date: June 2024
- Lead Investors: Databricks Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in the growth and development of Cube Cloud, particularly its AI functionalities, and to expand its go-to-market efforts.
Total Amount Raised: USD 46,700,000. Current Valuation: Not publicly disclosed.
Key Investors
- Databricks Ventures
- Details: Databricks Ventures is the investment arm of Databricks, a company known for its data and AI platform. They joined Cube Dev's Series B funding round as a lead investor.
- Investment Focus Areas: Data technologies, AI, machine learning.
- Notable Investments: Databricks.
- Decibel Partners
- Details: Decibel Partners is a venture capital firm that invests in early-stage technology companies. They led Cube Dev's Series A funding round.
- Investment Focus Areas: Enterprise software, infrastructure, early-stage technology.
- Notable Investments: LaunchDarkly, Gremlin.
- Bain Capital Ventures
- Details: Bain Capital Ventures is a venture capital firm that invests across various stages of a company's growth. They were the lead investors in Cube Dev's seed round.
- Investment Focus Areas: Enterprise software, fintech, healthcare, consumer technology.
- Notable Investments: LinkedIn, DocuSign, SurveyMonkey.
- Eniac Ventures
- Details: Eniac Ventures is a venture capital firm focusing on seed-stage investments in technology startups. They participated in Cube Dev's Series B funding round.
- Investment Focus Areas: AI, machine learning, enterprise software.
- Notable Investments: SoundHound, Alloy.
- 645 Ventures
- Details: 645 Ventures is a venture capital firm that invests in early-stage technology companies. They participated in Cube Dev's Series B funding round and have a representative on Cube's Board of Directors.
- Investment Focus Areas: Software, data infrastructure, AI.
- Notable Investments: Iterable, Goldbelly.
What's Next for Cube Dev?
Cube Dev stands at the cusp of significant growth opportunities, driven by the increasing demand for data management solutions. With a 4x increase in new customers and a 3x rise in average deal size, the company is poised to enhance Cube Cloud's capabilities and expand its customer base. The development of new AI functionalities and the introduction of low-code tools are set to empower more data professionals, making Cube Dev a key player in the data intelligence space.
Future fundraising opportunities appear promising, given the recent $25 million investment led by Databricks Ventures. This financial backing, coupled with strategic partnerships, positions Cube Dev to attract further investment to accelerate its roadmap and market expansion. However, the company may face challenges in maintaining technology-agnostic solutions and ensuring consistent data insights across diverse sources. Balancing fast, interactive analytics with the flexibility of live connections to cloud data warehouses will be crucial for sustaining growth.
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