Cube, the provider of the universal semantic layer for every data app, is announcing the completion of its latest funding round—led by new investor Databricks Ventures—having raised $25 million. Seeing participation from existing investors Decibel, Bain Capital Ventures, Eniac Ventures, and 645 Ventures, this latest funding round will help Cube invest in its growth and development strategies for its flagship product, Cube Cloud.
Cube has seen significant growth in the last year, having experienced a 4x growth in new customers, 3x growth in average deal size, and 3x growth in bookings. Installed on 90,000 servers and used by 4.9 million users—including 20% of Fortune 1000—Cube’s universal semantic layer solution, Cube Cloud, establishes a robust data context layer to connect siloed data, define consistent metrics, and power AI and analytics with context.
With the latest funding round completed, Cube has raised a cumulative total of $48 million, empowering the company’s go-to-market efforts for its universal semantic layer solution, including a full roadmap for new AI functionalities.
"We look forward to further advancing Cube Cloud's capabilities and reaching more companies struggling to create consistent data to fuel their BI tools, AI programs, and data apps," said Artyom Keydunov, co-founder and CEO of Cube. "This funding will pave the way for us to help more companies bring consistency, context, and trust to all their analytics."
Part of Cube’s growth is attributed to the ongoing need to manage the demand for data that BI tools, embedded analytics, chatbots, and LLMs incur. Cube Cloud aids in mitigating those challenges by working seamlessly with the modern data stack to cultivate a single source of truth applicable to every data experience, according to the company.
New investor Databricks Ventures emphasizes the shared interests and goals between Databricks and Cube, its investment marking a commitment toward establishing an understandable, unified data foundation.
According to Andrew Ferguson, VP, Databricks Ventures, "Databricks and Cube are both working towards an intelligent, AI-enabled future. Cube has been a standout partner for Databricks and the Cube Cloud universal semantic layer complements what we offer customers with the Databricks Data Intelligence Platform.”
"The semantic layer is critical to data intelligence and provides necessary context for AI agents to analyze data with higher accuracy. We're thrilled to deepen our partnership with Cube and participate in this round as we continue to invest in the data and AI ecosystem,” concluded Ferguson.
To learn more about Cube, please visit https://cube.dev/.