Analytics platform ChartMogul raises $900k; to release new APIs

By MoneyTimes

Aug 28, 2015 03:48 AM EDT

ChartMogul, an analytics platform, is in the process of strengthening its product development, for which the Berlin-based company has raised new seed funding from Point Nine Capital. The just completed seed funding round is estimated to be $900,000 and the analytics platform provider will invest in speeding up the product development.

There was no official information about the valuation available from the company. ChartMogul will release new application program interface (APIs). The new APIs enables its customers to add more data sources to the platform.

With this latest seed round, the total amount of funding reached to $1.5 million including its first round of $600,000 in last January.

ChartMogul provides analytics products and services to companies such as PayPal. ChartMogul provides intelligence tools to PivotalTracker, Nitro, Pipedrive, etc.  

The seed round also included investors such as RTAventures VC, and Alexander Aghassipour, chief product officer and cofounder of Zendesk. In addition these investors, the round also had angel investorslike Michael Hansen, Tom James and Mathew Romaine, Chief Executive at Gengo.

ChartMogul offers Software as a Service (SaaS) to companies that run business based on subscriptions. The tools of ChartMogul helps its customers better understand the subscriptions-based business revenues flow, requirements of customers, etc. The SaaS from ChartMogul enables companies to know exactly from where the recurring revenues flowing in. The latest ChartMogul's SaaS tools are simple in usage as these are cloud-based intelligence platform. ChartMogul also customizes SaaS intelligence tools to generate more subscription revenues. 

Established in December, ChartMogul has been promoted by Nick Franklin, who was a team member at Zendesk, a customer service platform. Franklin says that the company has drawn an ambitious roadmap to strengthen and expand its business operations. The company is also planning to offer planned integration with PayPal shortly. This will make ChartMogul a first company to offer full subscription analytics for the payment provider. 

ChartMogul offers tools that enable customers to analyze, measure the business operations and how to enhance subscriptions volume. The SaaS tools are helpful in using data analysis avoiding the total dependence on spreadsheets, excel, etc. The recurring revenue metrics would be calculated automatically for the customers. The data is also automatically updated in real time. 

The users of ChartMogul need not depend upon spreadsheets as just one click takes them to integrate for Stripe, Braintree, Recurly and Chargify. It also helps customers to connect multiple data sources to a single ChartMogul account. 

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