Investment to accelerate aggressive hiring, global growth and adoption of Sisense's Single-Stack analytics platform, which simplifies complex data and empowers everyone. The round was led by Insight Venture Partners, investment brings total amount invested to approximately $200 million. Zack Urlocker, previously COO of Duo Security and Zendesk, who has led four companies to a total $10 billion valuation, joins Sisense Board of Directors.
Sisense, disrupting the business intelligence (BI) market by simplifying business analytics for complex data, today announced the closing of an $80 million investment, bringing the total amount invested to approximately $200 million.
The latest round was led by New-York based Insight Venture Partners, a global venture capital and private equity firm. Insight currently has over $20 billion under management, cumulatively invested in more than 300 companies worldwide and has participated in more than 40 IPOs including recent IPOs of Pluralsight, Smartsheet, Delivery Hero, HelloFresh, Yext, and Alteryx. The round included additional participation from existing investors.
"We are honored that Insight Venture Partners has joined our mission to empower everyone by making data-driven insights instantly accessible everywhere," said Sisense Chief Executive Officer Amir Orad. "Every business is facing the challenge of extracting relevant and accurate insights from ever-growing amounts of data and data sources. This round will allow us to accelerate our aggressive hiring, increase our global footprint, boost our cloud offering, and make additional investments in our Machine Learning and Artificial Intelligence (AI) labs that are the core of our In-Chip technology and analytics platform agility."
Sisense's innovative analytics platform has earned a loyal base of thousands of clients across dozens of industries, ranging from innovative startups to global Fortune 50 brands. Leading companies such as GE,Nasdaq, Philips , and Oppenheimer have leveraged Sisense's market-leading analytics for some time and the company continues to add notable customers including TIAA, Rolls Royce, Air Canada, Accenture, Expedia's Egencia and Mazda.
Sisense takes a radically different approach to business analytics, with an agile hybrid-cloud solution that allows business users with no special background to get critical intelligence at the moment it is needed. Sisense is a comprehensive platform that covers every step of business intelligence – from data preparation and mashup to discovery of insights in seconds. Sisense embeds these insights and allow them to be consumed everywhere - on the web and mobile, in dedicated apps and products, via voice or chat, using natural human language or IoT devices. The product is designed to make the insights embedded everywhere and available at the right place, and the right time.
"We first learned about Sisense when we discovered that many of our portfolio companies are leveraging the technology to extract critical insights to more effectively run their businesses and enable their products and services," said Jeff Horing, Managing Director at Insight Venture Partners. "Insight is looking forward to working with the Sisense team to capitalize on its impressive growth and create further opportunity as the company scales."
Zack Urlocker will join the board of directors as part of this round. Urlocker is a successful SaaS, data, and analytics leader who has scaled four companies to a combined valuation of more than $10 billion. He was most recently Chief Operating Officer of Duo Security, and previously the Chief Operating Officer of of Zendesk, Vice President of Product at MySQL, and a board member at BI company Pentaho. In addition Urlocker is a lecturer at University of Michigan and has written and lectured frequently on the subject of disruptive innovation.
Sisense has more than 450 employees spread across its New York headquarters, and Tel Aviv, Kiev, Tokyo and Arizonaoffices. Current major investors in the company include Battery Ventures, Bessemer Venture Partners, DFJ Venture Capital, Genesis Partners, and Opus Capital. With this recent round of funding, the company is planning to expand operations globally, continue to invest in its widely lauded global Customer Success organization, and expand the size and scope of its AI innovation lab.
"It is our people and our culture that forms the foundation for the growth of this incredible company," said Amir Orad. "It's a major achievement that we've accomplished together. I could not be more proud to be part of this amazing team."
Sisense continues to gain major industry recognition and awards including positioning at the top of the "Visionary" quadrant in Gartner's 2018 Magic Quadrant for Business Intelligence, and remarkably achieving a 100 percent rating of "excellent" from customers. Sisense was also recognized by the Software and Information Industry Association (SIIA) as the Best Business Intelligence Tool and Platform, and has been named to the Forbes Cloud 100 every year since the list was founded.