INSUBCONTINENT EXCLUSIVE:
Sisense, an enterprise startup that has built a business analytics business out of the premise of making big data as accessible as possible
and a large jump in valuation to underscore its traction
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
Insight is in the news today for another big deal: Wearing its private equity hat, the firm acquired Veeam for $5 billion
stories, and Sisense is part of that theme, with annual recurring revenues of over $100 million speaking to its stability and current
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
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
That coupled with seeing more traction and success with leading companies in our portfolio and outside, led us to want to continue and grow
statement.To note, Access Industries is an interesting backer which might also potentially shape up to be strategic, given its ownership of
