Sisense Closes $50 Million in New Funding from Bessemer Venture Partners, Accelerating European Expansion
Sisense, disrupting the BI market by simplifying business analytics for complex data with its innovative In-ChipTM analytics, today announced that it has closed $50 million in Series D financing. The company is revolutionizing the global business analytics market, growing revenue by more than 100 percent for the fifth consecutive year. Sisense has established a strong foothold in Europe, with over 200 European customers. With market disrupting technology and record results across all key operating metrics, including consecutive quarters of greater than 100 percent net renewal from existing customers, Bessemer Venture Partners (BVP) has seized the opportunity to lead the company’s Series D funding. Funds will be used, in part, to support the opening of a European office in the United Kingdom, where the majority of Sisense’s European customers are headquartered.
“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,” said Bob Goodman, Partner, BVP. “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 global big data and business analytics opportunity.”
All key existing investors joined BVP in the Series D round. The new funding will be used to drive European expansion plans as well as continued investment in innovation, focused on simplifying analytics for large, multi-source data sets.
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 our global operations more quickly and to accelerate our innovation in the business analytics market.”
According to Aberdeen Group’s Analytics & Business Intelligence Research Analyst Peter Krensky, “Users want to engage, but they are easily overwhelmed by their vast data; the typical analyst touches 30 unique data sources on a regular basis. Users can really struggle to access large data volumes and analyze all the available data...Best in class companies, in the top 20% in revenue and operating profit improvement, grow their explorable data three times faster and have the tools to handle this data complexity.”
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 100X faster than competitive approaches, eliminating the need for cumbersome data preparation, large operational budgets or specialized IT skills.
In preparation for continued global growth, Sisense announced the appointment of Amir Orad, an experienced CEO, entrepreneur and big data analytics thought leader in early 2015. The company also appointed Todd Sloan Chief Financial Officer in November. Sloan formerly served as CFO at NetRatings (NTRT), About.com (BOUT) and Tremor Video (TRMR) and has significant experience scaling companies pre- and post-IPO. Other executives joining Sisense in 2015 include SVPs from LivePerson, RSA Security and NICE Systems.
Sisense serves more than a thousand direct and indirect customers in over 50 countries, including Motorola, Skullcandy and eBay. The company received numerous awards in 2015 including ranking 47th among the Deloitte Technology Fast 500 EMEA; Ventana Research’s 2015 Information Technology Innovation Award for Business Intelligence; Frost & Sullivan’s Customer Value Leadership Award for BI; and Celestica’s Total Cost of Ownership Supplier Award.
Sisense simplifies business analytics for complex data. Powered by its unique In-Chip™ and Single Stack™ technologies – Sisense delivers unmatched performance, agility and value, eliminating much of the costly data preparation traditionally needed with business analytics tools and providing a single, complete tool to analyze and visualize large, disparate data sets without IT resources. With more than one thousand customers in over 50 countries, including global brands like Target and Samsung, Sisense was recently designated a hot company to watch by CIO, CRN and Information Management and recognized as one of the “10 Most Innovative IT Ventures” at Under the Radar. Its solution won the “Audience Choice” award at the O’Reilly Strata conference and its CTO won the World Technology Award for the invention of In-Chip analytics.
Media Kit: /sisense-media-kit/
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