Raft of private investors back cloud-based business intelligence company cube19

Analytics start-up cube19 has secured a seven-figure funding round to go with additional seed capital provided by the company's founder.

A group of private investors, including CEO of SThree Russell Clements, are backing visual analytics business cube19.

Launched in May 2012 by entrepreneur Dan McGuire, cube19’s software-as-a-service (SaaS) product provides real-time information to individual users irrespective of location or device.

McGuire previously built Broadbean Technology before selling it to DMGT. He will now be joined on the board by new investor Clements as well as Graham Palfery-Smith and Ian Temple, executive chairman of Hydrogen.

As well as the £1.1 million of funding raised, McGuire is providing a ‘substantial’ amount of seed capital himself.‘We set out to create a product that is genuinely different and I believe we have done that,’ McGuire says. ‘The fact that such an illustrious group of investors has decided to put their time and money into cube19 demonstrates the excitement that is building around this business.’

New chairman Clements is retiring from SThree in 2013 and has invested in and joined cube19 as part of his plans to build a portfolio.

He comments, ‘cube19 is a technology start-up with a truly innovative business analytics product that has many potential applications, not least in the recruitment field.

‘I’m looking forward to working with Dan and the team to help accelerate the growth of the business.’

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for GrowthBusiness.co.uk from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.