Total amount raised
$46.7 Millions
Latest funding date
06/01/2024
Location
Cube Dev has successfully raised $25 million in its latest Series B funding round, which closed on June 6, 2024. The company is backed by 11 investors, including Eniac Ventures and Bain Capital Ventures.
Cube Dev offers a universal semantic layer platform designed to unify data models and metrics, transforming how enterprise teams manage and consume data. 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, founded in 2019 by Artyom Keydunov and Pavel Tinuov, is headquartered in San Francisco, California. The company operates in the analytics, business intelligence, and SaaS industries, employing between 11 to 50 people.
Cube Dev offers a universal semantic layer platform designed to unify data models and metrics, transforming how enterprise teams manage and consume data. Their product, Cube Cloud, helps optimize analytics workflows by centralizing governance and security, and integrating with various data endpoints.
How Much Funding Has Cube Dev Raised?
- Seed Round
- Amount Raised: $6.2M
- Date: September 2020
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Cube's universal semantic layer platform.
- Series A
- Amount Raised: $15.5M
- Date: July 2021
- Lead Investors: Decibel Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Funding Round
- Amount Raised: Not disclosed
- Date: December 2023
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth initiatives.
- Series B
- Amount Raised: $25M
- Date: June 2024
- Lead Investors: Databricks Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance Cube's growth and development strategies, particularly for Cube Cloud, and to develop new AI functionalities.
Total Amount Raised: $46.7M. Current Valuation: Not publicly disclosed.
Key Investors
- Databricks Ventures
- Details: Databricks Ventures is the venture arm of Databricks, a company that provides a unified analytics platform. They focus on investments that align with Databricks' mission to simplify and democratize data and AI.
- Investment Focus Areas: Data, AI, analytics.
- Notable Investments: Companies that complement Databricks' data and AI platform.
- Decibel Partners
- Details: Decibel Partners is a venture capital firm that invests in early-stage technology companies. They aim to support innovative startups with high growth potential.
- Investment Focus Areas: Early-stage technology, innovation, startups.
- Notable Investments: Various early-stage technology companies.
- Bain Capital Ventures
- Details: Bain Capital Ventures is a venture capital firm that invests in seed to growth-stage companies across various sectors. They are known for their strategic investments and support for high-growth companies.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, DocuSign, Jet.com.
- Eniac Ventures
- Details: Eniac Ventures is a venture capital firm that invests in early-stage technology startups. They focus on providing seed funding and strategic support to innovative companies.
- Investment Focus Areas: Technology, startups, innovation.
- Notable Investments: SoundHound, TapCommerce, Vungle.
- 645 Ventures
- Details: 645 Ventures is a venture capital firm that invests in early-stage companies with a focus on technology and innovation. They support startups that have the potential to achieve significant growth.
- Investment Focus Areas: Software, internet technologies, early-stage companies.
- Notable Investments: Iterable, FiscalNote, Goldbelly.
What's Next for Cube Dev?
Cube Dev is poised for significant growth, driven by the increasing demand for consistent data in business intelligence and AI applications. With $25 million in new funding, the company plans to enhance Cube Cloud's capabilities, focusing on AI functionalities and expanding its market reach. The opportunities are vast, with Cube Cloud already installed on 90,000 servers and used by 4.9 million users, including 20% of Fortune 1000 companies.
Future fundraising seems likely as Cube continues to innovate and grow. The company may attract more investors by demonstrating its success in the data and AI ecosystem. However, challenges such as competition, scalability, and rapid technological advancements in AI and data analytics could pose hurdles. Maintaining seamless interoperability and addressing data privacy concerns will be crucial as Cube Dev navigates its path forward.
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