Israeli big data startup Sisense has closed $50 million in Series D financing. Bessemer Venture Partners led the investment with all key investors joining the latest financing round including Genesis Partners, Battery Ventures, Opus and DFJ. The company has raised $100 million to date and this latest financing reflects a company value of hundreds of millions of dollars. Sisense has 170 employees, two thirds of them in Israel and annual revenue of tens of millions of dollars. The workdforce is expected to rise to 300 over the next year.
The new funding will be used to continue investing in innovation, focused on simplifying analytics for large, multi-source data sets, while rapidly expanding business operations in support of Sisense’s global growth.
Founded in 2008, Sisense, which seeks to disrupt the business intelligence and analytics market, grew revenue by more than 100% for the fifth consecutive year in 2015, when it added hundreds of new customers. Sisense expanded existing customer relationships so quickly that it delivered consecutive quarters of greater than 100% net renewal from its existing customer base.
Sisense CEO Amir Orad said, “The only way to translate data into business value quickly and cost effectively is to put the power of data directly into the hands of business decision makers and give them the agility and independence they need. That is what Sisense does better than anyone else in the market. This investment enables us to expand operations more quickly and accelerate our innovation in the business analytics market.”
Sisense business analytics software is empowering everyday business users to manage, analyze and visualize complex data within a single-stack environment, on low-cost, commodity machines. The company’s In-Chip analytics processes data 100 times faster than competitive approaches, eliminating the need for cumbersome data preparation, large operational budgets or specialized IT skills.
BVP partner Bob Goodman said, “As we looked at the business intelligence and analytics landscape, Sisense came up again and again as an innovator that is changing the market, making business analytics dramatically easier for both corporate business users and SMBs. We were impressed by how distinctive the technology is. Multiple Bessemer portfolio companies chose Sisense for their own business analytics because of the agility it provides business users to quickly analyze large, disparate data sets. We expect Sisense’s momentum to accelerate and believe the company will capture a sizable chunk of the $33 billion big data and business analytics opportunity.”
Published by Globes [online], Israel business news - www.globes-online.com - on January 7, 2016
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