Sisense is raising more than $100 million in new venture capital at a more than $1 billion-dollar valuation, according to a press release on the company’s website. The funding round brings the company’s total raised to $274 million since its founding in 2004. Sisense will use the injection to bolster its sales, marketing and software development teams to increase its market presence and enhance the Sisense Platform.
Sisense recently announced new advanced analytic functionalities, representing the first product integration since its acquisition of Periscope Data in May. The integration brings forth Sisense Forecast, Sisense Quest, and three new capabilities for embedded BI. Sisense also unveiled an industry-first In-Warehouse Data Preparation module for self-service in multi-cloud environments. The Sisense platform now includes advanced forecasting features that use machine learning to predict future outcomes from seasonal and nonlinear historical data.
Sisense offers a single platform that runs on in-chip technology for visual data discovery on web-based dashboards. Due to unique technology and an emphasis on end-user experience, Sisense is most appropriate for organizations that want to analyze large amounts of data from multiple sources. The company’s OEM partner network is strong, and users report high praise for customer experience. The ability for organizations to white label Sisense and use APIs to extend analytic content are also major value-adds.
In a statement, Sisense CEO Amir Orad spoke about the news: “With annual recurring revenues of over $100 million for fiscal year 2019, and more than 2,000 customers,we have demonstrated market success, scale, and traction. We are honored to have these reputable investment partners support our growth strategy and continue on our fast track.”