Business Analytics startup Sisense built its business on the premise of democratizing big data to users through both graphics on mobile and Alexa. The company is now announcing a big round of funding and plans a large jump in valuation to underscore its traction.
Currently, the company has picked up $100mn in a growth round of funding that skyrocketed Sisense’s valuation to over $1 billion which it plans to use in building its tech as well as for sales, marketing, and development. This is quite a jump considering the company valued only around $325million in 2016 after its Series E funding. The company has several mainstream customers like Tinder, Philips, Nasdaq, and the salvation army.
The latest round of funding is led by the high-profile enterprise investor Insight Venture Partners along with Access Industries, Bessemer Venture Partners, Battery Ventures, etc. The company’s growth also signifies a new trend in the market of business intelligence, also the increasing demand for digestible and actionable data is necessary for futuristic advances in the field of data analytics so that it could be used across organizations. Salesforce acquired Tableau for the same reason and at a higher price.
Sisense has been bringing in end user-oriented products but now it is also tapping on the potential of machine learning and AI to crunch data and order it, thereby representing a smaller and more fleet of foot alternative for its customers.