Greek revenue management software startup – Cube RM– announces the receiving of its first investment from Marathon Venture Capital. The amount of the funding has not been yet officially disclosed, but reportedly the final figure is between 500.000 and one million Euros.
The money, as announced by the Cube’s Managing Director Costas Economopoulos in an interview for startupper.gr, will be used to further strengthen their offices in Europe and open new not only throughout the Old Continent but in U.S. as well. The idea, as noted by Economopoulos, is to strengthen their R & D divisions with more talent to make the most of its skills to produce new innovative solutions and software applications. Besides increasing their R&D divisions, the company will further invest in developing their sales and marketing department.
“The ultimate goal is the creation of a truly powerful company with an international horizon, which will be a reference point in the world of very large enterprises and multinational organizations for the specialized solutions, applications and products in its portfolio”, says Economopoulos.
Founded in 2017 in Athens, Greece, by Costas Economopoulos, George Boretos and Philip Kytinos, Cube RM offers software solutions for next-generation Revenue Management. The startup offers a software platform with integrated price predictive analytics that helps companies to identify optimum pricing, efficiently manage quotes and tenders, understand what their customers are thinking, and better evaluate their business and optimize their processes.
“Loss of revenue is a major problem for large companies. Our mission is to help our clients respond to this by shaping the right price at the right time in an efficient way. We work hard by constantly investing in Cloud and Machine Learning technologies to become the next generation of revenue management software,“ explains Economopoulos.
At the moment, as announced by the company, their products and services are used by Fortune 500 clients with thousands of users in more than 20 countries across Europe. As disclosed by their CEO, the startup is currently focusing on solution for the pharmaceutical companies, development and disposal of medical equipment industry, supermarkets as well as high technology and the sub-sectors of the manufacturers of electronic and electrical appliances.
Marathon VC is a venture capital investing, as they say, in those who are willing to go after the seemingly impossible. The company aims to bring together everyone who can enable founders to realize their ambitions.
According to the Marathon VC’s Partner, Giorgos Tziralis, the investment in Cube RM is because of the experienced team and integrated technology that “will change the revenue management to big companies and we are glad we take part in their journey“.
The Cube’s team has a great experience in business software applications. Reportedly their CEO, Costas Economopoulos, has great experience in developing business software in Life Sciences and other disciplines. Giorgos Boretos, CubeRM’s CMO, has a 20-year career in managerial positions for marketing and sales in many software companies, while Philip Kytinos, plans critical software business applications by organizing large groups of software developers over the past fifteen years.