Jan
09
2020
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Sisense nabs $100M at a $1B+ valuation for accessible big data business analytics

Sisense, an enterprise startup that has built a business analytics business out of the premise of making big data as accessible as possible to users — whether it be through graphics on mobile or desktop apps, or spoken through Alexa — is announcing a big round of funding today and a large jump in valuation to underscore its traction. The company has picked up $100 million in a growth round of funding that catapults Sisense’s valuation to over $1 billion, funding that it plans to use to continue building out its tech, as well as for sales, marketing and development efforts.

For context, this is a huge jump: The company was valued at only around $325 million in 2016 when it raised a Series E, according to PitchBook. (It did not disclose valuation in 2018, when it raised a venture round of $80 million.) It now has some 2,000 customers, including Tinder, Philips, Nasdaq and the Salvation Army.

This latest round is being led by the high-profile enterprise investor Insight Venture Partners, with Access Industries, Bessemer Venture Partners, Battery Ventures, DFJ Growth and others also participating. The Access investment was made via Claltech in Israel, and it seems that this led to some details of this getting leaked out as rumors in recent days. Insight is in the news today for another big deal: Wearing its private equity hat, the firm acquired Veeam for $5 billion. (And that speaks to a particular kind of trajectory for enterprise companies that the firm backs: Veeam had already been a part of Insight’s venture portfolio.)

Mature enterprise startups have proven their business cases are going to be an ongoing theme in this year’s fundraising stories, and Sisense is part of that theme, with annual recurring revenues of over $100 million speaking to its stability and current strength. The company has also made some key acquisitions to boost its business, such as the acquisition of Periscope Data last year (coincidentally, also for $100 million, I understand).

Its rise also speaks to a different kind of trend in the market: In the wider world of business intelligence, there is an increasing demand for more digestible data in order to better tap advances in data analytics to use it across organizations. This was also one of the big reasons why Salesforce gobbled up Tableau last year for a slightly higher price: $15.7 billion.

Sisense, bringing in both sleek end user products but also a strong theme of harnessing the latest developments in areas like machine learning and AI to crunch the data and order it in the first place, represents a smaller and more fleet of foot alternative for its customers. “We found a way to make accessing data extremely simple, mashing it together in a logical way and embedding it in every logical place,” explained CEO Amir Orad to us in 2018.

“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, in a statement.

To note, Access Industries is an interesting backer which might also potentially shape up to be strategic, given its ownership of Warner Music Group, Alibaba, Facebook, Square, Spotify, Deezer, Snap and Zalando.

“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 Claltech’s Daniel Shinar in a statement.

Apr
12
2017
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Qualtrics waits on that IPO, raises $180 million at a $2.5 billion valuation instead

 That Qualtrics IPO many have been expecting is on hold for now. The online market research platform has just raised its third round for $180 million at a whopping $2.5 billion valuation. The Provo, Utah-based company came from much humbler beginnings, bootstrapping the operation for a decade before finally taking financing from Sequoia and Accel in 2012. It has blown up since then,… Read More

Jan
24
2017
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EquipmentShare, the Airbnb of construction, raises $26 million

EquipmentShare facilitates peer to peer rentals of heavy equipment. It hasn’t even been a year since EquipmentShare raised a Series A round of funding, but the “Airbnb of construction rentals,” has closed a $26 million Series B round. The Columbia, Missouri-based startup helps contractors rent out their under-utilized equipment, or rent safety tested equipment that they need from a fellow contractor. Last year, EquipmentShare also launched… Read More

Jul
19
2016
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Sift Science raises $30 million to predict and prevent fraud everywhere online

Hand working at laptop computer illustrating cyber crime To predict and prevent fraud online even more quickly than cybercriminals adopt new tactics, Sift Science has raised $30 million in a Series C round of venture funding in a round led by Insight Venture Partners. According to the U.S. Internet Crime Complaint Center (IC3) 2015 annual report, reported internet crimes alone, ranging from personal and corporate data breaches to credit card… Read More

Jun
01
2016
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On-screen guidance startup WalkMe raised $50M led by Insight, now valued around $400M

WhatsApp-Image-20160601 As more people and businesses shift to digital platforms to get things done, a cloud-based platform for making interfaces easier to navigate continues to grow. WalkMe, which helps guide people through confusing or complicated services online, has raised another $50 million in funding at a valuation TechCrunch understands from reliable sources is now around $400 million. The fundraise,… Read More

May
19
2016
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Showpad closes $50M Series C to keep growing its SaaS sales productivity platform

Showpad SaaS startup Showpad which has built a platform designed to improve other businesses’ sales productivity has closed a $50 million Series C funding round, led by Insight Venture Partners — with Insight’s MD Jeff Horing now joining the Showpad board. Read More

Oct
28
2015
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Alteryx Scores $85 Million As Growth Spurt Continues

Two men working with Alteryx Alteryx, which offers an analytics tool aimed at business users, announced an $85 million round today. Today’s deal comes on top of the $60 million deal last October and brings the total raised to an impressive $163 million to date. The round was led by Iconiq Capital and Insight Venture Partners. Meritech Capital Partners also participated. The company has been growing steadily and… Read More

Apr
14
2015
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Docker Raises $95M Series D Round For Its Container Platform

docker-cash Docker, the company that kicked off the recent enthusiasm for containers two years ago, today announced that it has raised a $95 million Series D round led by Insight Venture Partners. New investors in this round include Coatue, Goldman Sachs and Northern Trust. Existing investors Benchmark, Greylock Partners, Sequoia Capital, Trinity Ventures and AME Cloud Ventures also participated. Read More

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