Sisense Announces $100M+ Funding Round at More Than $1B Valuation
NEW YORK, Jan. 9, 2020 — Sisense, the world’s leading analytics platform for builders, today announced a funding round of over $100 million, continuing to power its market-leading growth and rapid customer adoption. This funding will accelerate innovation and scale across the globe, and values Sisense at over $1 billion. Insight Venture Partners led the round. Also participating is new investor Access Industries (via its Israeli vehicle Claltech), who was joined by existing investors Bessemer Venture Partners, Battery Ventures, DFJ Growth, and others.
“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.
“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,” said Daniel Shinar, who leads Access Industries’ investments in Israel. Access Industries (the owner of the Warner Music Group among other investments) is a privately-held group based in the U.S. with strategic and diversified investments of over $20B in value. “Sisense is the clear leading analytics platform for builders and we’re excited to be part of their journey for many years to come.”
The new funding will bolster the company’s sales, marketing and development efforts to increase market share, and accelerate investment in its platform.
“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,” said Amir Orad, CEO at Sisense. “We are honored to have these reputable investment partners support our growth strategy and continue on our fast track.”
Sisense was recently named a leader among enterprise business intelligence platforms in the latest Forrester Wave, as an industry leader in business intelligence in Dresner’s Wisdom of Crowds study and hailed by Gartner as a visionary in the Magic Quadrant for Analytics and Business Intelligence, holding the highest market position for customer satisfaction from an analytics platform.
Throughout 2019, customers kept Sisense in the industry leader position among Top BI Vendors in G2 Crowd’s recent 2019 Grid® Report for Embedded Business Intelligence. Sisense also appeared on the Forbes Cloud 100 for the second straight year, rising five spots this year to No. 36. Sisense serves large enterprise customers, Fortune 500 companies, and nonprofits. All of them utilize Sisense to turn complex data into insights with the speed, power, and flexibility needed to gain a competitive advantage.
Sisense offers 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. Sisense lets builders 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. More than 2,000 customers across the globe rely on Sisense, including industry leaders like Tinder, Philips, Nasdaq, and the Salvation Army. Learn more at www.sisense.com.
About Access Industries and Claltech
ClalTech is the Israeli tech investment arm of Access Industries. Access Industries is headed by Len Blavatnik, an American industrialist and philanthropist. Access is a privately-held group based in the U.S. with strategic and diversified investments around the world in media and telecommunications, venture capital/technology, entertainment, biotechnology, real estate, and natural resources. Its media and technology portfolio includes market leaders such as Warner Music, Alibaba, Facebook, Square, Spotify, Deezer, Snap, Zalando and many others. Claltech’s investments in Israeli technology companies include Lightbricks, Zerto, Yotpo, IronSource, Vayyar, Dynamic Yield (acquired by McDonalds), LightCyber (acquired by Palo Alto Networks) and others.