Big data and analytics funding rounds are increasingly common in what has become a very competitive vendor landscape. Our editors compiled this list of the top big data and analytics funding rounds so far in 2020.
Big data is big business, and the marketplace for data and analytics software is gushing with innovative options to help organizations turn data into an information asset. Proliferation in the big data solutions space has seen a vibrant technology landscape grow even brighter, with lots of interest from outside firms to get in on the action. With billions invested and trillions in valuation, data and analytics providers are beginning to emerge as some of the fastest-growing companies on the planet. With this in mind, our editors have compiled this list of the top big data and analytics funding rounds of 2020 so far.
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Sisense ($100M, January)
The January 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.
Snowflake ($479M, February)
The funding round was led by new investors Dragoneer Investment Group and Salesforce Ventures, and raises the cloud data platform provider’s valuation to $12.4 billion. The injection and partnership with Salesforce will enable Snowflake to strengthen its market position in the data management space. According to data from Crunchbase, this represents Snowflake’s third funding round since January 2018 when the company secured $263 million. Snowflake followed that up with $450 million in additional funding in October.
Dremio ($70M, March)
The round was led by Insight Partners with participation from existing investors. The Dremio funding will enable the company to continue to invest in expanded product capabilities, as well as scale its go-to-market and engineering operations around the globe. The capital injection comes after a record year for Dremio, as the data lake tools provider grew its revenue more than three-and-a-half times and partnered with many of the world’s Global 2000 companies. Dremio was also recently included among CRN’s 100 Coolest Cloud Companies of 2020, an annual list that honors the premier cloud technology suppliers in key categories.
Pyramid Analytics ($25M, March)
The Pyramid Analytics funding was led by Jerusalem Venture Partners with participation from existing investors. Pyramid will use the capital to enhance its global footprint, expand strategic alliances with partners, and become a major player in analytics and BI. The funding comes after Pyramid unveiled its new Pyramid v2020 platform in September. The update was highlighted by a focus on ease of use, which can be seen via the tool’s simplified user interface. Pyramid v2020 includes more than 150 new enterprise features in total, with the most notable being Analytics for Everyone.
Collibra ($112.5M, April)
The funding comes at a post-money valuation of $2.3 billion and brings Collibra’s total capital raised to more than $335 million over 6 rounds since its founding in 2008. The round was led by existing investors and will enable Collibra to help its 450 customers via a suite of products that assist with data privacy, protection and compliance. The Collibra funding news comes on the heels of the company’s January release of Collibra Lineage, a data lineage tool that enables organizations to understand where data comes from and how it flows and transforms across the enterprise. The launch of Collibra Lineage marked the first formal integration after Collibra acquired SQLdep in July of 2019.
Domino Data Lab ($43M, June)
Domino’s June reveal of Domino Model Monitor, update to Domino Data Science, and $43 million-dollar funding round represented a major milestone for the advanced analytics provider. The Series E funding round brings the company’s total raised to $128 million since its founding in 2013. The round was led by Highland Capital Partners with participation from new and existing investors. It’s the second funding round for the data science solution provider in the last 24 months.
Fivetran ($100M, July)
The Series C funding round brings Fivetran’s total funding earned to more than $163 million since its founding in 2012, and includes both new and existing investors. Fivetran will use the capital to hasten adoption in the enterprise and around the globe. The news represents Fivetran’s second funding round in the last calendar year after it secured $44 million in Series B last September. That round was designed to help the Oakland-based vendor advance automated services to more sources and destinations and scale operations. The Series C funding also comes on the heels of the release of Fivetran Transformations with in-Warehouse Data Change and the launch of Powered by Fivetran.
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