12 Apr, 2022, 08:00 ET
SAN FRANCISCO, April 12, 2022 /PRNewswire/ -- Kubit, a leading innovator in the product analytics industry, has raised $18 million in a Series A round led by New York-based global venture capital and private equity firm Insight Partners, with participation from existing investors Shasta Ventures and TSVC. The round quickly follows the company's $6M seed announcement and 50X growth in 2021.
This investment will be used to strengthen Kubit's position as the Self-Service Product Analytics category leader. Kubit's pipeline of top consumer tech companies is accelerating its growth trajectory as the company is projected to triple its revenue this year.
Kubit has become an enterprise favorite in the product analytics space by providing a revolutionary No-Code solution to Self-Service analytics. Kubit enables product teams to gain insights about user behavior, measure campaigns and A/B tests, and also drive engagement and retention in real-time instead of waiting for others to get answers. Through their innovative No-ETL approach, Kubit is disrupting incumbents with a significant architectural advantage by giving the control of data back to their customers.
"Cloud data warehouses have empowered every enterprise to take control of their data. The days of requiring SDK or ETL for product analytics are over," says Alex Li, Founder and CEO of Kubit. "Self-Service analytics must be established upon the data model controlled by the customers. Kubit is founded to challenge the status quo of these siloed blackbox solutions in the market."
"We have seen tremendous growth in the ecosystem surrounding the Modern Data Stack. The trend towards control and transparency is only going to continue in building the next generation of data apps," said George Mathew, Managing Director at Insight Partners. "Kubit's No-ETL platform is a game changer not only for product managers, but for any business user that is building digital products. We're excited to partner with Kubit's founding team as they continue to innovate and grow the product analytics market."
In 2021, Kubit saw massive growth in its enterprise client list, which includes leading brands like Paramount/Viacom CBS, Wish, and Quizlet. Kubit looks to continue expanding in a market that is ripe for growth. Added Li, "Product analytics has proven its significance in many large enterprises' successes. As an industry, product analytics is still young and has become more open and transparent. No enterprise wants to be locked into a siloed blackbox solution that demands control of a customer's precious data. Kubit is the only self-service product analytics platform that offers transparency and No-ETL integration for any cloud data warehouse to fully utilize a customer's existing data model while guaranteeing One Single Source of Truth."
Kubit is the only Transparent Product Analytics platform that works with any cloud data warehouse through No-ETL integration. They help product people optimize user acquisition, engagement and retention through Self-Service analytics.
Founded in 2018, Kubit has enabled Paramount/ViacomCBS, Quizlet, Wish and many more enterprises to gain insights about user behavior, measure campaigns and A/B tests, and also drive engagement and retention. They beat siloed blackboxes like Amplitude and Mixpanel with No-ETL integration and can directly use customers' existing data model to provide complete transparency and data freedom.
For more details, check their web site at https://kubit.ai.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of February 24, 2022, the closing of the firm's recent fundraise, Fund XII, brings Insight Partners' regulatory assets under management to over $90B. Insight Partners has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Insight Partners meets great software leaders where they are in their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
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