NY-base Cube, a real-time financial planning and analysis software platform, raised US$ 10M in Series A funding round on 9 March 2021.
Investors: The Series A funding round was led by Mayfield, with participation from Bonfire Ventures and Operator Collective. Cube’s investors include current and former executives from Anaplan, Planful, Carta and Rent the Runway.
Purpose of Funding: The funds will be utilized to expand Cube’s next-generation CFO Intelligence Platform.
About Cube
Founded in 2018 by Christina Ross and Josh Holat, Cube is a real-time FP&A platform that helps strategic finance professionals move from numbers to the narrative quickly. It aims to disrupt the decades-old Enterprise Performance Management (EPM) industry with an innovative offering combining the power of SaaS with the familiarity with spreadsheets. The software automates spreadsheet-based planning and analysis by connecting the spreadsheets and source systems to its cloud platform and system of record. This helps users to save considerable time and ensure that the right data is accessible at anytime.
The startup is focusing on mid-market growth companies for now. Some of its clients come from a handful of unicorns and public companies. Cube claims that its clients have quadrupled since the company’s seed round last year. Cube is planning to expand its team and nearly triple the headcount by end of 2021 across engineering, product and go-to-market teams.
What the CEO has to say: “Our mission at Cube is to empower Finance professionals to become the strategic value-drivers and storytellers in every organization. Armed with faster, smarter insights, Finance teams will actively influence the key decisions that propel the business forward.” — Christina Ross, founder and CEO of Cube Software.
What the investors have to say: “Cube is creating the foundational financial system of engagement and intelligence for every company in the world. Prior Mayfield portfolio company, Hyperion, did this for the Fortune 1000, but Cube’s approach of meeting finance users where they are, in their spreadsheets, and giving them the power of the cloud to do their job, is a 100X market expansion opportunity. When we met Christina, we were immediately struck by her empathy for her end-user and her vision for the role of planning to create immense value for businesses. We are excited to be part of her journey, as Cube is not just a company but a movement to elevate the role of Finance, much like other companies we have partnered with have done, such as Outreach for sales teams and Marketo for marketing teams.” — said Rajeev Batra, Partner at Mayfield.
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