Cube raises $20M, appoints former Workday exec, Suresh Bala, to lead product innovation

Updated: March 18, 2024 |

Christina Ross

CEO & Co-Founder, Cube Software

Christina Ross
Christina Ross

Cube's founder and CEO, Christina Ross is a 3x CFO and former finance transformation leader. As a well-recognized finance expert in all things FP&A, she is passionately mission-driven to help finance leaders become the heroes of every org. She currently resides in NYC.

CEO & Co-Founder, Cube Software

Cube raises $20M, appoints former Workday exec, Suresh Bala, to lead product innovation

Big things are happening at Cube. 

Today, we're doubling down on our commitment to helping every company hit their numbers, and our journey toward accelerating FP&A for modern finance teams. 

First, Cube has secured an additional $20 million in funding to drive further advancements in the world of financial planning software. In tandem with this funding milestone, Cube welcomes Suresh Bala as its first Chief Product & Technology Officer (CPTO). Finally, with this new leadership and funding we will continue to invest in growing our headquarters and collaboration hubs.

Let’s unpack what this means for our journey and the exciting path ahead. Read more below:


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Funding: Fueling our future

In times of uncertainty, companies are tasked with balancing growth while maintaining efficiency, elevating the CFO’s role to strategize more than ever. Despite this, a surprising 80% of finance teams still rely on manual spreadsheets for FP&A, which can make it difficult to plan and respond quickly to market changes.

Cube’s spreadsheet-native FP&A platform directly addresses this pain, offering finance teams a way to boost efficiency and remain agile in uncertain times. And today, we're excited to announce we've raised an additional $20 million in funding to fuel our mission to help every company hit their numbers. 

This funding will allow Cube to fast-track our product development initiatives, focusing on innovative AI technologies and introducing advanced use cases in financial planning and analysis. Integrating AI into FP&A can transform how we predict and plan, giving us insights and efficiencies that were previously out of reach and ensuring that financial strategies are as informed and forward-thinking as possible.

Beyond the numbers, we’re also growing our team and spaces, investing significantly in our headquarters in New York City and setting up a hub in Toronto. This growth goes beyond merely increasing our size; these new hubs are really about connection. Being closer to our customers means we can really get what they need and build stronger, more personal relationships. It's all about tuning into their feedback directly and making sure our solutions keep pace with what they're really looking for. This kind of on-the-ground presence means we can move quickly and stay aligned with our customers' changing needs.

As Cube continues to scale, these strategic moves are setting the stage for us to accelerate our mission, delivering solutions that empower companies to navigate their financial futures with unprecedented clarity and confidence. 

Leadership: Suresh Bala joins Cube

Additionally, we’re thrilled to welcome Suresh Bala to our team as Cube’s first Chief Product & Technology Officer (CPTO). 

With a rich history of leading product innovation, most notably at Workday Adaptive Planning, Suresh's insights and expertise will be invaluable to the future growth of Cube. He has a clear vision for how machine learning, data proliferation, and advanced cloud technologies can transform the office of the CFO, and we couldn’t be more excited to have him as part of the Cube team.

Christina Ross on automation and finance teams (1)-1

Suresh brings a fresh perspective on the evolving landscape of investment and growth, pointing out that while investors once valued rapid growth above all, the emphasis in today's world has shifted to sustainable and responsible growth. This change reflects a broader expectation for startups to focus on solid business fundamentals, carefully manage their resources, and plan with a long-term vision in mind.

Suresh's approach aligns perfectly with these new expectations. His insights into the changing demands of investors—favoring longer runways and higher growth multiples supported by strong financial metrics—inform Cube's development under his leadership.

Suresh is as passionate as we are about the potential of combining the simplicity and familiarity of spreadsheets with the power of a dedicated FP&A platform. His leadership will play a crucial role in Cube’s mission to help companies hit their numbers.

➡️ Click here to read more about why Suresh decided to join Cube. ⬅️

Here’s to the road ahead

This announcement comes at a time when Cube has seen significant growth, with a more than 400% increase in top-line revenue following our Series B.

With this new funding and Suresh's leadership, we're set to make significant strides in helping companies navigate their financial futures with confidence. If you're interested in becoming part of this movement and connecting with like-minded finance professionals, check out Cube's Strategic  Finance Pros community. 

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