Cumul.io raises 3.5 million euros from Axeleo Capital, LRM and SmartFin
Moving from the era of big data to that of smart data is the challenge facing companies around the world. To support them in this context, the Belgian start-up Cumul.io is developing a platform to simplify data visualization. Based in Leuven, Belgium, the company has just completed a funding round of 3.5 million euros led by Axeleo Capital, LRM and SmartFin, its historic investor.
Founded in 2015 by Karel Callens, Haroen Vermylen and Thomas De Clerck, Cumul.io has designed a low-code platform to create dashboards and analytics features that software vendors can integrate into their own applications to have better visibility of their data. Aimed at CTO and CPO of SaaS application publishers, the Belgian company’s platform is now used by more than 190 SaaS companies in 29 countries.
25% of revenue generated in the United States
Positioned in the flourishing data analysis market, the Belgian start-up intends to use this funding to accelerate its development at a time when teleworking, which is becoming the norm due to the coronavirus crisis, is amplifying the business needs for data analysis and visualization. “Cumul.io has a major opportunity to take up in this new market which combines data cloud and business intelligence», Estimates Eric Burdier, co-founder and president of Axeleo Capital.
With this funding round, Cumul.io wants to strengthen itself in Europe, as well as in the United States, where 25% of its turnover comes from. “We are taking a leading position in Europe, from our headquarters in Louvain and our relays being set up in the United Kingdom and France. To accelerate our development plan, our establishment in New York will be key in our expansion in the United States. We plan to rapidly double our workforce and recruit new sales, marketing and customer service talent, both in Europe and the United States.», Says Karel Callens, co-founder and CEO of Cumul.io.
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Cumul.io: the key data
Founders: Karel Callens, Haroen Vermylen and Thomas De Clerck
The head office : Leuven
Sector: data visualization
Market : low-code platform for data analysis
Funding: 3.5 million euros from Axeleo Capital, LRM and SmartFin in November 2020 …