Kubit Raises $4.5M Seed Round to Democratize Data with AI

  United States, California, Fremont - 11/06/2019 (PRESS RELEASE JET)

Alex Li, Repeat Entrepreneur and Former Smule CTO, Founded Kubit to Empower Citizen Data Scientists to Build Exceptional Products by Democratizing Analytics

Kubit, a pioneer in augmented analytics, announced that it raised a $4.5M seed investment round from Shasta Ventures, a leading early-stage boutique venture capital firm. Kubit’s sophisticated technology 

empowers citizen data scientists with AI-enabled behavioral analytics and automated diagnostics that provide clear answers about user engagement and retention. The funding will propel Kubit’s go-to-market strategy as the startup invests in customer acquisition and growth. 

“What I appreciate about Kubit is that you don’t have to be a numbers person to understand the data. It’s like everyone on our team took a master class in product analytics,” said Chung-Man Tam, CEO of 2nd Address. 

Repeat entrepreneur Alex Li is the founder and CEO of Kubit. While serving as the CTO of Smule, Li recognized that existing product and user behavior analytics tools are labor intensive. At Smule, Li handled the data generated by 50 million monthly active users. To gain the insights and understanding needed to make data-driven decisions, his product teams had to input a significant amount of data manually. Then they had to use screenshots of charts to communicate their findings in long email threads. Li knew that there had to be a better way, so he built Kubit to leverage machine learning and AI for automated augmented analytics.    

“After building several generations of data infrastructure and analytics practices, I wasn’t happy with the analytics products on the market. There was no automation, they lacked intelligence, and collaboration was difficult,” said Li. “With help from Shasta Ventures, I founded Kubit to help all product people make better, data-driven decisions through AI-enabled behavioral analytics and automated diagnostics.”

Kubit offers product teams new analytics software that can determine how large datasets of customers interact with ecommerce and mobile application products. The software processes high volumes of user-generated data in real time, and it can automatically discover the root causes of anomalies and deliver clear answers. Kubit provides access to hundreds of domain-optimized, out-of-the-box ready KPIs and benchmark analytics. Automated diagnostics help companies avoid costly mistakes by identifying anomalies quickly and easily with machine learning algorithms. Users can then share their entire thought processes with colleagues through Kubit’s intuitive workspace and evidence boards. With the help of AI, Kubit empowers all citizen data scientists to build exceptional products.

Augmented Analytics to Dominate Business Purchases by 2020

Gartner, a leading research and advisory company, predicts that by 2020, “augmented analytics—a paradigm that includes natural-language query and narration, augmented data preparation, automated advanced analytics and visual-based data discovery capabilities—will be a dominant driver of new purchases of business intelligence, analytics and data science and machine learning platforms and of embedded analytics.” In addition, “the number of users of modern business intelligence and analytics platforms that are differentiated by augmented data discovery capabilities will grow at twice the rate and deliver twice the business value of those that are not.”

“Kubit represents the next generation of smart software,” said Shasta Ventures partner Nitin Chopra, who has joined Kubit’s board. “Technology is moving faster than ever, and Kubit provides product teams with a scalable, cutting-edge solution that brings product analytics to the next level. We’re thrilled to support Alex as he executes his vision and leads Kubit to success.”  

About Kubit

Kubit democratizes data by empowering citizen data scientists with AI-enabled behavioral analytics, automated diagnostics and collaborative workspaces that provide clear answers about user engagement and retention. We help all product people monitor KPIs and discover insights without need of expert advice. Kubit instantly identifies the root causes of anomalies and allows teams to share their thought processes, which makes for better, data-driven decisions. Check it out at www.kubit.ai.

About Shasta Ventures

Shasta Ventures puts entrepreneurs first. A leading early-stage venture capital firm, Shasta partners with bold, creative entrepreneurs who are passionate about building great products that deliver amazing work experiences. Founded in 2004, Shasta Ventures has more than $1B under management and specializes in smart software for the enterprise. Our portfolio features Anaplan, Apptio, Glint, Mint, Nest, Zenprise, Zuora, and many promising private companies, including Cequence, HighSpot, Lattice, LeanData, and Valimail. Find out more at www.shastaventures.com.