Sisense, a company aimed at disrupting the business intelligence (BI) market by simplifying business analytics for complex data, has announced that it has closed the deal on an $80 million investment, bringing the total amount invested in the company to approximately $200 million.
According to a company press release, the latest round of investment was headed up by New York-based Insight Venture Partners. 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.” Sisense’s existing investors also contributed to the new round of fund raising.
Sisense CEO Amir Orad said, “We are honored that Insight Venture Partners has joined our mission to empower everyone by making data-driven insights instantly accessible everywhere. 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.”
As a part of the investment round, Zack Urlocker, previous COO of Duo Security and Zendesk, who has led four companies to a total $10 billion valuation, is joining the Sisense Board of Directors. In addition to his corporate accomplishments, Urlocker is a lecturer at University of Michigan and has written and lectured frequently on the subject of disruptive innovation.
Orad applauded Urlocker joining the Sisense, saying, “It is our people and our culture that forms the foundation for the growth of this incredible company. It’s a major achievement that we’ve accomplished together. I could not be more proud to be part of this amazing team.”