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Big Data Developer Sisense Raises $100 Million In Financing, Hits $1 Billion Market Cap

The funding round comes on the heels of the company’s 2019 acquisition of SaaS business analytics vendor Periscope Data.

Sisense has raised more than $100 million in a Series F round of funding, money the fast-growing business analytics software developer will use to bolster its sales and marketing efforts and accelerate development of its analytics platform.

The new financing pushes the market valuation of the New York-based company to over $1 billion.

The funding round was led by existing investor Insight Venture Partners, joined by new investor Access Industries (through its Israeli vehicle Claltech) and existing investors Bessemer Venture Partners, Battery Ventures, DFJ Growth and others, according to a Sisense statement.

[Related: The 10 Biggest Big Data News Stories Of 2019]

“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 Sisense CEO Amir Orad in the statement. “We are honored to have these reputable investment partners support our growth strategy and continue on our fast track.”

Founded in 2004, Sisense has developed a partner ecosystem of platform, reseller and implementation service partners. In September it named Burlington, Mass.-based Ayantek, a digital strategy and solution provider, its top partner in America for the year.

In May Sisense acquired Periscope Data, a fast-rising developer of a Software-as-a-Service data analytics system that combines the capabilities of SQL, Python and R, and was generally seen as particularly focused on the data science side of business analytics. This week the company said it had rebranded the Periscope Data software as Sisense for Cloud Data Teams.

 

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