Big data analytics company SiSense has raised $30 million in a financing round led by DFJ Growth. Also participating in the investment are Battery Ventures, Genesis Partners and Opus Capital. To date the company has raised $44 million.
This is DFJ Growth's first-ever investment in an Israeli company. DFJ Growth has previously invested in Skype and Tesla.
SiSense was founded in 2005 by CEO Amit Bendov.
Bendov told "Globes," "We do not need this money now. In fact we raised $10 million a year ago and haven't yet touched the money. You raise money when you can, not when you need it. An opportunity was created and we were approached by many funds and investors and so we opened the door."
Since the financing last year SiSense has tripled its work force to 90 while revenue has risen tenfold. Bendov added, "We are still not profitable but it is very close. The company has grown and we are generating cash at a good rate. Our next stop in several years will be an IPO."
DFJ Growth Managing Director Randy Glein said, “SiSense is leading a new generation of business intelligence and analytics applications with a technology that is robust and sophisticated yet simple to use. SiSense allows business users to take advantage of Big Data and make sense of it instantaneously by revolutionizing the way enterprises gather and analyze information. Customers rave about SiSense and its ability to easily integrate multiple data sources, scale far beyond competitive solutions, and be adopted directly by business users with little to no support needed from IT specialists. With its unique technology and experienced leadership team, SiSense has rapidly emerged as a leader by disrupting legacy approaches that simply can’t match the scale or performance of this powerful BI platform.”
Bendov said, “Many companies claim to tackle Big Data. What sets us apart is that we’re more than just a pretty face as our motto states, we’re the whole package brains, brawn and beauty. We provide a full-stack BI solution, with a powerful in-chip technology back-end, along with a beautiful front end that enables non-technical business users to create visualizations and share interactive dashboards on every device including smartphones and tablets.”
Published by Globes [online], Israel business news - www.globes-online.com - on June 12, 2014
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