- Leading analytics platform Sisense announced it raised over $100 million in funding at a valuation of over $1 billion
Sisense — the world’s leading analytics platform for builders — announced it raised over $100 million in funding to continue to power its market-leading growth and rapid customer adoption. This funding round — which is at a valuation of over $1 billion — will accelerate innovation and scale across the globe.
Insight Venture Partners led the funding round. And new investor Access Industries (via its Israeli vehicle Claltech) along with existing investors Bessemer Venture Partners, Battery Ventures, DFJ Growth, and several others also participated in the round.
“We have enjoyed watching the Sisense momentum in the past 12 months, the traction from its customers as well as from industry-leading analysts for the company’s cloud-native platform and new AI capabilities. That coupled with seeing more traction and success with leading companies in our portfolio and outside, led us to want to continue and grow our relationship with the company and lead this funding round,” said Jeff Horing, Managing Director at Insight Venture Partners.
This round of funding will be used for bolstering the company’s sales, marketing, and development efforts to increase market share and accelerate investment in its platform.
“Given our investments in market-leading companies across diverse industries, we realize the value in analytics and machine learning and we could not be more excited about Sisense’s trajectory and traction in the market,” added Daniel Shinar, who leads Access Industries’ investments in Israel. “Sisense is the clear leading analytics platform for builders and we’re excited to be part of their journey for many years to come.”
Sisense is also known as the only independent analytics platform for builders to simplify complex data and build and embed analytic apps that deliver insights to everyone inside and outside their organizations. And Sisense enables builders to collaborate on a single platform, delivered in a hybrid cloud-native environment with the industry’s lowest cost of ownership, to create true democratization of data and analytics. There are over 2,000 customers around the world that rely on Sisense, including industry leaders like Tinder, Philips, Nasdaq, and the Salvation Army.
“With annual recurring revenues of over $100 million for fiscal year 2019, and more than 2,000 customers ranging from Expedia to Philips, Tinder to Nasdaq, and the Salvation Army, we have demonstrated market success, scale, and traction,” stated Amir Orad, CEO at Sisense. “We are honored to have these reputable investment partners support our growth strategy and continue on our fast track.”
Recently, Sisense also announced that Periscope Data has now been branded and sold as Sisense for Cloud Data Teams. The two companies merged in May 2019 and brought together a unified and end-to-end BI and data analytics platform. Sisense for Cloud Data Teams is yet another major milestone for completing the vision for bringing data teams and business teams onto the same analytics platform.
“When we decided to merge, I made it clear to our customers that we would continue to innovate for them and we haven’t missed a beat,” explained Harry Glaser, co-founder of Periscope Data and CMO of Sisense. “We’ve made so much progress since the merger that we’ve reached a point where both teams are operating as a single entity in all aspects. As one company, we’ve decided to talk about our platform in a way that both recognizes the union of those technologies and acknowledges the users who have made it successful. Formalizing our progress as Sisense for Cloud Data Teams is a thrilling way to kick off the year.”