Big data analytics software developer SiSense has raised $10 million in its second round of financing, the startup said Wednesday.
Even though the company is experiencing rapid growth, CEO Amit Bendov said the company will devote the funding to expanding its sales and marketing efforts -- including developing its channel programs -- and beefing up customer support.
Battery Ventures led the round of funding with participation from Opus Capital and Genesis Partners.
"The company really is on fire right now," Bendov said in an interview with CRN. "It's confirmation that [SiSense is offering] a disruptive technology."
SiSense positions its products as an alternative to traditional business analytics tools. The company's business analytics software, SiSense Prism, is designed to bring sophisticated, data scientist-class capabilities to everyday information workers.
The product uses advanced visualization capabilities that are designed for 64-bit microprocessors and a columnar data structure. Prism is backed by the company's Elasticube analytical database that SiSense said maximizes machine RAM, CPU and disk resources to out-perform relational database systems.
All that means users can analyze data at speeds 50x to 100x faster than is possible with traditional business analytics and relational databases, according to the company. SiSense's software can be deployed on premise or in the cloud.
SiSense's subscription revenue grew 520 percent in the last year, according to the company. "Right now we have more business than we can handle," Bendov said.
The channel already accounts for about 25 percent of SiSense's sales, the CEO said, including resellers, OEMs and systems integrators. He said the company is in the early stages of developing a channel program.
While the company is experiencing exponential growth, Bendov said some of the new funding will be used to grow the company's sales and marketing capabilities to maintain momentum. The company also plans to expand its customer support capabilities.
PUBLISHED APRIL 3, 2013