BlogInspiring Stories

RG Challenge16 participant CubeRM receives new funding from Marathon VC

By May 4, 2018 No Comments

Cube Revenue Management, who participated in RG Challenge16, has completed an initial investment round with Marathon Venture Capital. Since participating in our accelerator programme, CubeRM have expanded their portfolio to include Fortune 500 clients and they now have thousands of users in more than 20 countries across Europe. The cloud product offering and revenue planning start-up will utilise the investment to support increased demand, accelerate its expansion in Europe, and establish a larger presence in the US. 

George Tziralis, Partner at Marathon Venture Capital, said “Clarity about revenue is key when running a business – no matter its size. Cube Revenue Management provides large corporates with the tools they deserve to become more successful and has been received with enthusiasm by the industry; we are excited about joining Cube RM in this journey.”

Large medical equipment, pharmaceutical and technology companies lose hundreds of millions of euros and thousands of hours of productivity every year in revenue-related management processes. Procedures such as identifying the best price per customer and efficient bid management, from simple proposals to complex tenders and compliance issues, are some of the major problems. Identifying the optimal price per customer and efficiently managing the sales process, including Quotation, Tenders, and Contract Compliance, are core parts of these challenges and key elements of Cube Revenue Management’s solution.

The founders of CubeRM bring together experience in building and delivering enterprise software applications. Costas Economopoulos, CEO, is a life-long entrepreneur with a track record in establishing and growing enterprise software companies for the global printing and life sciences industries. George Boretos, CMO, is a Senior executive of the IT industry and an accomplished data scientist, having served in key leadership positions in marketing and sales and Philip Kytinos, CTO, has been designing cutting-edge enterprise software solutions and leading large engineering teams for the last 15 years.

When we previously discussed their participation in RG Challenge16, George Boretos mentioned that he enjoyed the interaction with the RG community, mentors, judges, and RG members most. George said ‘’I was especially impressed by their openness and agility but also by their willingness to freely give their expert advice and insights. RG Challenge helped me to quickly identify the weaknesses in my offering and business model. The result of this ‘awakening’ was the decision to join forces with my now partner and Co-Founder Costas Economopoulos, to create Cube RM, with a broader team and a considerably improved offering and market presence. Perhaps the most important lesson I learned from the RG community, and something that I try to use every day, is to keep an open mind and challenge my own views. It is the only way to continuously evolve yourself and your company, and adapt to the rapidly changing market conditions.’’

It’s fantastic to hear about CubeRM’s new funding and we look forward to following their entrepreneurial journey further.