18 Aug, 2020, 09:00 ET
NEW YORK, Aug. 18, 2020 /PRNewswire/ -- Cube, the next generation Financial Planning & Analysis (FP&A) platform for Finance teams, announced that it has closed a $5M seed round to expand their go-to-market efforts. Cube is disrupting the decades-old enterprise performance management (EPM) industry with an innovative offering that combines the power of SaaS with the flexibility and familiarity of spreadsheets.
"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 is already in market, having launched its paid offering in 2019. Their platform is the only solution of its kind that is easy enough for a growing company to adopt, yet powerful enough to scale into the enterprise.
The solution seamlessly integrates with Google Sheets and Excel, allowing the user to work within the environment they know best, thus eliminating the time, cost, and steep learning curve normally 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.
In addition to improving ease-of-use, Cube automates the manual workload associated with spreadsheet-based planning by hooking existing spreadsheets and source systems into its powerful engine and system of record, enabling 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."
Despite the global pandemic, investors saw the value and need for Cube and their round was raised entirely over Zoom in mid April. The round was led by Bonfire Ventures with participation from Operator Collective, Clocktower Technology Ventures, Techstars, PLG Ventures, Alumni Ventures Group, The Fund, as well as Angel investors including former executives from Anaplan, SAP, and Host Analytics.
"Winning companies need to plan, analyze, and re-adjust their businesses in real time," said Brett Queener, Partner at Bonfire Ventures. "We are thrilled to partner with Christina and Cube. We are convinced that they can become the new standard that unlocks this new level of required financial agility for companies of any size."
Cube is the next-generation FP&A platform that empowers Finance teams to deliver faster, more impactful strategic value across the organization. Built by Finance for Finance, Cube streamlines manual workflow, reduces errors, and improves collaboration, all from the comfort of your spreadsheet. Go live in record time.
For more information, visit cubesoftware.com or follow CUBE on Twitter or LinkedIn.
Media contact is Travis Claytor at [email protected] or 813-951-1822.
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