Sisense is receiving a substantial amount of Series D funding which will be used to invest in innovation and allow the company to focus on simplifying analytics for large, multi-source datasets, while rapidly expanding business operations in support of Sisense’s global growth.
The $50 million funding round was led by Bessemer Venture Partners (BVP), which was joined by all key existing investors, according to Sisense.
“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, a partner at BVP. “We were impressed by how distinctive the technology is. 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.”
The impetus for this Series D round stems from growth for the company in 2015 by adding hundreds of new customers and by expanding existing customer relationships so quickly that it has delivered consecutive quarters of greater than 100% net renewal from its existing customer base.
“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,” said Amir Orad, CEO. “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.”
For more information about the funding, visit www.sisense.com.