Startup Spotlight: digesting big data with Sisense
In a world where businesses can easily become overwhelmed by data, the New York based business intelligence firm Sisense promises an easier approach to analysis.
Competing with established giants like Salesforce’s Tableau, Microsoft’s Power BI and Oracle BI, the Sisense platform emphasises collaboration and accessibility, with drag and drop functionality and shareable, web-based dashboards. Sisense also promises to remove the barrier to entry of technical knowledge, thanks to the use of AI to automate linkages between different sets.
On the 9th of January of this year, Sisense became one of the latest members of the tech unicorn club, thanks to a $100mn Series F funding round which raised its valuation to over $1bn.
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The round was led by Insight Partners, a venture capital firm with a specialty in technology, and included participants from prior rounds. In a press release, Insight Managing Director Jeff Horing said: “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.”
The area of data analytics and business intelligence is increasingly big business, as last year’s acquisitions of Tableau and Looker prove.
“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 of Sisense. “We are honored to have these reputable investment partners support our growth strategy and continue on our fast track.”
