Recently, Cube announced that it has closed a Seed round worth over $5 million. The software startup turned to a larger fish in the market, enthralled on financial planning and analysis work, raised $3.8 million of the total, with remaining $1.25 million coming in an earlier pre-Seed round.
Christina Ross, the CEO and founder of Cube told, she has been raising the most recent whack of the capital amount in March, collaborating with a few term sheets within a few weeks.
The startup picked up Bonfire Ventures Brett Queener to lead the round, with Operator Collective, Clocktower Technology Ventures, Alumni Ventures Group, and larger organizations taking part in it.
Why is Cube attracting so many investors?
If you want to know where to found a startup, hit the doors of a big company, walk around until you figure out where they still use the spreadsheets and build them something that will replace it.
Ross is doing something similar with the Cube. During all her career at Deloitte, The Runway, Criteo, and Eyeview, she has helped growing companies manage and track their monetary resources, and draw a plan for the future.
She has spent an ample amount of time doing the Financial Planning & Analysis, a business process where she says there are still numerous traditional spreadsheets.
What cube does is collect information from a company’s general ledger (Quickbooks), CRM (salesforce), and HRIS (ADP) into a single repository. After that the company’s FP & A burgesses can control and sort the necessary data, viewing it using the Cube’s visualization tool, spreadsheets, or even web interface.
With the help of the data drawn out, you can continue with sketching out the future. Resulting in providing the company’s leadership with profit and loss forecasting, and various operating details.
The work is a neat problem to solve, and one that Cube can charge substantially for giving a handout. The minimum plan for the service is $850 per month and goes in the upward direction from there.
The startup wants to build a part of the organization’s financial brains and as its product will set next to the nexus of the money in and out, it is right to demand a higher fee.
The price point along with the business importance are the reasons that Cube didn’t struggle to raise during the pandemic. Cube, based in New York City, intends to increase its staff size to triple as of now in the coming year and currently has closed its funding cycle.
The software of the Cube that isn’t something that lures you, but I can sense the time when it began to mature its accounting and financial functions. At most times, it’s a struggle to get the numbers in line, let alone handle everything graciously that you can raise your eyes of the fine print to glance at the horizon.
Cube’s CEO, Christiana Ross has been in the Financial Planning and Analysis all her career. Quite recently, Cube announced that it has closed a Seed of over $5 million to scale its financial planning software.