Cube is disrupting the decades-old enterprise performance management (EPM) industry with an innovative offering that combines SaaS's power with the flexibility and familiarity of spreadsheets
FREMONT, CA: Cube, the next generation Financial Planning & Analysis (FP&A) platform for Finance teams, raised $5M in seed round of financing to expand their go-to-market efforts. The round was led by Bonfire Ventures with participation from Operator Collective, Clocktower Technology Ventures, Techstars, PLG Ventures, Alumni Ventures Group, The Fund, and Angel investors, including former executives from Anaplan, SAP, and Host Analytics. Despite the global pandemic, investors saw the value and need for Cube, and their round was raised entirely over Zoom in mid-April.
"Cube's mission is to empower the Finance function to become the strategic hub of the organization. We're excited to use this capital to help us accelerate our growth and fund further product innovation for our customers," said Cube's Co-founder and CEO, Christina Ross. "As a former CFO, I was consistently challenged with the manual nature of FP&A. In searching for a product to use, I found that existing solutions in the market were heavy and difficult to adopt, requiring months-long implementations and years of training. When I learned that so many of my peers faced similar challenges, I became driven to build a faster, smarter, and simpler solution in a space that is ripe for innovation."
Cube's platform is the only solution that is easy enough for a growing company to adopt yet powerful enough to scale into the enterprise. The solution easily integrates with Google Sheets and Excel, enabling the user to work within the environment they know best, thus eliminating the time, cost, and steep learning curve commonly associated with replacing spreadsheets entirely. Cube's clients typically launch in less than one week, a distinct advantage over other EPMs that can take months or even years to onboard.
Cube also automates the manual workload related to spreadsheet-based planning by hooking existing spreadsheets and source systems into its powerful engine and system of record. It allows users to save time, reduce errors, and ensure that the right data is shared with the right individuals.
"Cube has been invaluable for us," said Cube customer, Nigel Glenday, CFO of Masterworks. "As a lean, fast growing company, we needed a flexible FP&A solution that leveraged our existing Excel models linking them with our accounting software and internal systems. It's the perfect FP&A solution for spreadsheet junkies."
