Sisense, a pioneer in business analytic solutions for complex and multi-source data, has announced it raising $50 million in Series D round of funding led by Bessemer Venture Partners (BVP) along with participation of other existing investors.
Headquartered in New York City, Sisense is a leading business intelligence firm that capable of processing large qualities of data, helping researchers sift through and discover important points of interests or draw conclusions based on trends emerging from the data. The company’s In-Chip analytics software can process data a 100 times faster than competing products and has been a significant differentiator for the company. It allows companies to visualize, analyse and manage data from a unified environment, with no need for expensive systems, specialized IT skills and complex data preparation.
Data is exploding and I have clients in all industries,” said CEO Amir Orad. “My shoe maker, education companies and healthcare all have more data than governments had 20 years ago because the amount of data is growing very fast along with the number of sources. They are drowning in data. “
“I think in ten years there will be two kinds of companies. Both kinds will have a lot of data, but one kind will be making data-driven decisions and staying competitive while one will be not leveraging well enough or ignoring the data when they make decisions and lose its competitive edge. Unless Steve Jobs is their CEO and knows what the next iPhone will be, then it’s all about leveraging the data and that’s why we’re growing so fast.”
With the fresh funds raised, Sisense plans to boost innovation in the analytics domain and support its tremendous growth. The company has recorded more than 100% revenue growth for last five consecutive years and serves more than thousand clientele in 50 countires. With over 200 European businesses leveraging its analytics offerings, the company boasts a strong presence across the Atlantic as well. With top clients like eBay, Motorola and having received awards from agencies like Celestica, Frost & Sullivan, the company intends to invest further in simplifying BI and maintain its position in the market.