Cube Dev, the open-source company behind Cube.js that is developing a data platform to assist developers compose analytics applications for both internal and external users, today announced that it has actually raised a $6.2 million seed round led by Bain Capital Ventures. Previous financiers Eniac Ventures, Betaworks, Development Endeavors and Slack Fund also participated, in addition to brand-new financiers Uncorrelated Ventures and Overtime.vc.
The two co-founders, Artyom Keydunov and Pavel Tiunov, in fact constructed the core of what is now the successful Cube.js job for another business they established in 2016: Statsbot. Statsbot is an organization intelligence platform that assists business create reports and dashboards– and there’s a Slack bot, too.
“While dealing with Statsbot we developed what is Cube.js today to power the Statsbot application,” Keydunov said. “But over time, as users were utilizing Statsbot, we began to see that they were asking us about how they might utilize this innovation to power internal application or customer-facing applications for analytics. […] We dealt with a number of business to have some proof of principle of using Cube.js as a standalone technology and we got actually positive feedback about that.”
The basic concept behind Cube.js is to replace a great deal of the busywork of developing the backend facilities for linking information sources and constructing visualizations. The open-source tool is essentially a middleware layer that sits in between the databases and the frontend which deals with the SQL generation, orchestration, security and caching so that designers can concentrate on writing their applications. Thanks to its caching technology, it likewise solves a great deal of efficiency concerns for designers.
Image Credits: Cube.js As Keydunov argued, if you are a data expert or data engineer, there are currently lots of tools on the marketplace today that will offer you most of what you need. Developers, though, who generally require to develop customized applications, need to depend on a variety of disconnected libraries. “They don’t have any solutions they can use specifically for building analytics applications,” he noted.
“We invest extremely often in open-source business. And one of the locations of discomfort points that we’re very well aware of is this difficulty of building applications that connect to lots of various data sources,” Bain Capital Ventures partner Stefan Cohen told me. “The arrival of the public cloud and the heterogeneity of the information sources that are out there and being taken in at such a rapid pace by engineers and developers simply makes it truly hard to pull all this things together in a manner that can present helpful and aesthetically enticing applications for the business.”
Yet business desire these applications due to the fact that they can help them unlock new income and enhance their workflows. That puts Cube Dev right in the middle of this trend.
Like most open-source companies, the Cube Dev team is taking a look at providing a commercial cloud and SaaS service for enterprises, with all of the typical enterprise accouterments like additional security and sign-in functions.
As Keydunov informed me, the group expected to spend 2020 developing out the open-source community around Cube Dev through events and meetups. And while that has obviously gotten a bit harder, the team still focused on talking to potential customers and neighborhood members as much as possible.
“I believe the huge obstacle– and the opportunity for us– is to make this leap from open source to a business product,” Cohen noted. “And it’s terrific to see a lot of designers and companies utilizing the Cube.js open source. What we really need to do is get that completely included cloud product offered and then start to drive use of it. And not even necessarily monetizing it but just ensuring that our business features are the best ones for the marketplace which we’re resolving a significant discomfort point. And I believe if we might get that right, the world’s our oyster– but we need to get that product out and then start driving some preliminary usage.”
Unsurprisingly, that’s also what the group plans to focus on with this new round of moneying it now has in the bank.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.