Narrative BI Raises $1,2M in Pre-seed Funding


Big announcement!

We are excited to announce that we have raised $1,2 M in pre-seed funding from Elysium Venture Capital, Finsight Ventures, Digital Future, Adventures Lab, and angel investors from Google and ServiceNow. We are proud that our investors share our vision for the future, believe in what we're doing, and have chosen to back our one thousand step journey.

"We are grateful to our new global investors who placed their trust and capital in Narrative BI," — said Michael Rumiantsau, Founder and CEO of Narrative BI. "Advanced analytics is a game-changer for growth teams today with their ever-growing appetite for tools that are more intuitive and powerful than the ones they used before. The future is product-led growth powered by augmented analytics. Smart companies are already adapting to keep up. This is why we have chosen to fuel the fastest-growing product-led teams. With the support of our investors, Narrative BI will continue to innovate, building a powerful platform to augment human capabilities for the benefit of growth teams worldwide."

Why augmented analytics

AI is revolutionizing data analytics. It affects every aspect of business, far outperforming human cognitive abilities.

This power accelerates and magnifies the impact of innovation while increasing the risk of unforeseen consequences.

Democratizing data analytics has been a long-standing entrepreneurial focus of the Narrative BI founders. NLG technology, as part of a larger ecosystem in artificial intelligence, cognitive computing, and augmented analytics, serves those users who are in a rush or who lack data analytics skills, helping turn data into immediate, informed action.

The beginning

As you can imagine, we had to make a long and exciting journey, learning at every step along the way, incentivized by the challenges we faced.

While gaining this incredible experience, building excellent products, networking, pitching to investors, fundraising, making successful exits, we realized how much of our time we needed to spend cutting through the jungle of Google Analytics metrics.

Marketing data is ever-growing throughout the marketing cycle. It is created in website visits, downloads, advertising clicks, social media reactions, shares, conversions, transactions, purchases, streaming content, and much more.

Challenges never go away – instead, they get more complex as we learn how to solve them and succeed. We believe that advanced analytics should be as easy and intuitive as your favorite mobile app.

Making data accessible

We wanted to enable growth teams just like us to use data at any time to make decisions with no barriers to access, understanding, or interpretation. When properly analyzed, marketing data can help you better navigate in a speeding up world.

Our passion for problem-solving and inability to get actionable and relevant data insights motivated us to tackle these challenges with Narrative BI, an intuitive, lightweight no-code analytics platform for growth teams. It automatically turns raw data into actionable narratives helping startups keep track of their key metrics with an effortless but robust augmented analytics solution.

Anyone should be able to gain insights without months of training or relying on IT experts and data scientists. No gatekeepers, no bottlenecks at the gateway to the actionable data insights.

Narrative BI is as easy as a breath. Actionable insights should come to you in the easy-to-grasp natural language before you even have to ask.

Crushing complexity

We are targeting the largest and ever-evolving market of advanced data analytics technology.

There is so much excitement around augmented analytics space today, and we believe it is every bit justified.

However, growth teams have been limited to using legacy analytics tools developed nearly 1,5 decades ago. Today product-led teams find it challenging to access the right data at the right time. The existing legacy analytics solutions require significant IT and data engineering skills, resulting in a heavy reliance on the IT department, low technology adoption, and a high risk of human bias.

Businesses pull together data for analysis from multiple source systems such as Mixpanel, Google Analytics, Hubspot, and other applications, containing complex raw data. The legacy analytics systems cannot translate today's massive product data and signals into actionable insights to guide faster and wiser decisions.

In the world of enormous data volumes and high speeds, there is no space for blind business decisions. In order to address those risks we are building the platform that turns raw data into above-market growth for digital product creators.

The quill was good enough until someone invented the pen

In most cases, the problem is not the data but the inability to capture or understand it.

Google Analytics is a great legacy solution, but it is so confusing and hard to grasp! Without tedious drill-downs, it is impossible to understand what works or doesn't, and how to drive more conversions.

Growth teams often get stuck in Google Analytics data redundancy and inconsistency, so they end up wasting valuable time doing manual work to make sense of the confusing data.

Narrative BI is the answer to the age-old challenge

We are proud to announce the launch of the Narrative BI Public Beta! We are now ready to invite you to experience a Google Analytics data journey in augmented analytics reality.

It goes beyond legacy analytics, providing intelligent and actionable narratives powered by Natural Language Generation and Anomaly Detection.

Narrative BI for Google Analytics is a free self-service integration of Narrative BI with Google Analytics. It helps you stay updated on the most critical metrics and anomalies in your website data.

The value

Narrative BI enables quicker navigation across complex Google Analytics data with automated, easy-to-get narratives and alerts. Actionable, high-impact narratives are delivered at the speed of light.

Narrative BI empowers better marketing decisions, reduces cost, time, manual effort, and human error, provides straightforward answers without the heavy lifting.

You will never miss any critical events with Narrative BI's automated insights. Anomaly detection helps reveal critical events.

Our platform help customers detect the issues in the past and present, find opportunities, better predict the future, make informed and confident action.

The approach: value over features

Over the last 12 months, Narrative BI has grown from a concept in our minds to a full-featured application with more than 400 teams.

We are set out to solve real-world customer problems. We apply the timeless principle of Ask-Learn-Test in product development. Using real-world data is another fundamental approach to developing the platform. Every feature of Narrative BI had to go through 'the real-world customer data test.'

It helps us fine-tune the product and aligns with our mission around developing the robust and lightweight augmented analytics platform — a single source of truth for growth teams.

Building a product is not about acquiring a customer base. It is making human-to-human connections, listening, and talking to people. So, every day we get out there and talk to our clients, who are excellent feedback sources.

Growth happens outside your comfort zone, where negative feedback brings value and illuminates action. Entrepreneurs don't have to convince customers if the product offers what they want.

The feedback from our early users and their great ideas helped us test, improve, and get this far with Narrative BI.

The future

We continue to stretch the boundaries of possible. We are ready to accept new challenges and create new capabilities to overcome them.

We support our talented professionals in answering the question: What impact will you make?

We continually grow in size and ambition, pushing Narrative BI to deliver a higher quality product experience. We see growing our team as an important way to help us make a more significant change.

There are 100 ways to get there. Because our business is a living organism, we continue to:

  • Think Big
  • Be Curious
  • Drive Value
  • Earn Trust
  • Follow Up

Join our tribe

We've been building a team of people who share our values of bringing advanced data analytics anywhere anytime. Our incredible Narrative BI team is at the forefront of enabling augmented analytics that brightens the future today.

We are primarily focused on product development, aiming to transform Narrative BI into a robust analytics platform. Engineering talent is our # 1 priority today. So, if you have a passion for augmented analytics, apply for the currently open positions!

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