The Silicon Review
By helping our customers manage their risks, we, in turn, contribute to their ability to deliver high-value goods and services to their customers.
Headquartered in London, CubeLogic was founded in 2009 by industry veterans; Lee Campbell, David Priestley, and Riyaz Mulla. The opportunity presented itself as the existing technology providers in this space were using antiquated technology, and no one was addressing the market need to apply new “big-data” tools and techniques to risk management reporting. CubeLogic was established with a clear vision to provide out-of-the-box risk and reporting solutions using the latest Business Intelligence platforms and concepts. Through rapid, global growth, the company serves major organizations within the energy, commodities and financial services sectors. With offices in the UK, USA, Singapore, and Bangalore, CubeLogic benefits societies and consumers by helping to stabilize commodity markets.
CubeLogic: Contain, Mitigate, Profit
CubeLogic’s first customer was Mercuria Energy Trading who immediately saw the benefit of applying BI and Cube technology to their portfolio to rapidly deploy data insights to their trading, credit, risk, and treasury teams. The initial deployment was for enterprise credit risk management across their global operations, which then quickly transitioned to position and profit-and-loss (P&L) reporting to their trade floors.
Mercuria’s deep and wide trading profile proved to be an excellent test bed for the CubeLogic platform. By virtue of trading, multiple asset classes and commodities in a wide array of geographies, the firm were able to quickly and effectively validate the ability of the underlying model to respond to almost any customer need, regardless of their business model or location. That first implementation proved to be a resounding success and the company moved quickly from there to new customer acquisitions in the utility, transportation, and oil and gas sectors.
The value the CubeLogic’s team brought to the table with this first project, and all subsequent ones included all the lessons learned from the prior 15 years of building and supporting similar solutions for similar customers. No one else on the market has this prior experience, and all other solutions are first-generation attempts at solving these challenges.
Initial Challenges and Growth
A challenge presented itself after the company had acquired its first few customers in Europe, and it began seeing interest from US-based companies. With no real presence in North America at the time, CubeLogic had to choose between making a large capital investment to establish a US office or find a partner to help with distribution. That process ended up with CubeLogic being acquired by a large multi-national technology corporation that proved to be a huge benefit at the time that significantly expanded its market access. Over the next 4 years, the company added over 15 new customers in all major markets and established itself as the leading provider in its space. CubeLogic subsequently separated from that organization and is now an independent company, but that relationship served them well and happened at a very opportune time in CubeLogic’s early growth stages.
The company prides itself on being highly responsive to its clients and allowing them to drive CubeLogic’s product roadmap. CubeLogic’s strategy is informed by the client focus group sessions, which are held multiple times a year, and a perfect example of how clients have shaped CubeLogic’s strategy is its move to mobile and expansion into trade accounting.
The Roadmap Ahead
The company aims to continue to focus on expanding its domain. CubeLogic hopes to see good client adoption in Asia-Pac, more customers using more of the platform, and an expanded presence in the Tier 1 space of the industries it serves. CubeLogic’s long-term interests tend toward exploring the application of data analytics and AI. One particular area of R&D that the company is excited about has to do with Key Risk Indicator benchmarking for the energy industry that CubeLogic is working on collaboratively with the Committee of Chief Risk Officers.
Benefitting this goal, CubeLogic has just released Version 6 of its platform that includes a new HTML5 framework for improved performance and user experience, and cutting-edge capabilities to model Trade Credit Insurance with the rest of the portfolio. Currently, CubeLogic is working on some very exciting capabilities in the trade accounting space that will be released early in 2018 that is quite unique. Furthermore, CubeLogic is also working on leveraging big data and social media feeds to bring market and counterparty sentiment into its risk management offerings.
“I love the elegant way that CubeLogic have organized their star schema. It allows me to ask any question I want and get the answers I need in the certain knowledge that I am working from accurate data” - Krista Lewis, EoN.
“It’s very intuitive you almost don’t need to train users, it’s a dream” - Chris Mudry, CRO, Mercuria.
“It’s amazing what you have done with the Cube I had no idea how extensive the functionality is” - Troy Martin, Founder, Trailstone.
Greet the Thought Leaders
Lee Campbell, Co-Founder, and CEO: Campbell has over twenty years of experience in the architecture, development, sales and project management of software systems for the front and middle office. He has a strong background in the finance and energy sectors and a proven track record of technology innovation.
David Priestley, Co-Founder, and Executive Chairman: Priestley is a career technology entrepreneur for the Finance and Commodities sectors; founder of six successful start-ups over a thirty-year career. Responsible for the creation of several hundred technology jobs in the sector and with an excess of over £100 million in exports achieved over the years; Priestley remains committed to deploying the very latest technology using the very best software engineering talent.