VCs in €3.5m round for Cumul.io

Axeleo is currently investing from its debut fund, which closed on €45m in March 2018. The VC provides seed backing and takes part in series-A rounds via equity tickets in the €500,000-4m range.

SmartFin is currently investing from its second-generation fund, which closed on €240m in January 2020. It provides equity tickets in the €500,000-12m range.

The funding will be used to continue growing the company's market presence worldwide with a special focus on Europe in the UK, France and Germany, as well as the US. It will also go towards developing the firm's technology, including its embeddable dashboard editor and query engine.

Stijn Christiaens, co-founder and CTO at Collibra, will continue to act as an independent board member.

The company was planning to raise more than €6m in two financing rounds, according to a report published in Unquote sister publication Mergermarket in October 2020.

Previous funding
The company received €50,000 from an undisclosed investor in 2016, and SmartFin invested €500,000 in 2017.

Cumul.io's backers also include broadband provider Telenet Group and Imec, according to Mergermarket.

Company
Founded in 2015 and based in Leuven, Cumul.io has developed an interface to create and embed dashboards, mainly for analytics software-as-a-service providers. Through the firm's New York City office, 25% of the company's revenues are generated in the US. It also operates an office in Genk and employs 20 people.

People
Axeleo Capital – Eric Burdier (founding partner).
Cumul.io – Karel Callens (CEO).

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