Access Industries invested in the data simplification software producer as part of a round that lifted its overall funding to $300m and its valuation above $1bn.
US-based app analytics software provider Sisense raised $100m from investors including Claltech, a subsidiary of diversified conglomerate Access Industries, at a valuation of more than $1bn yesterday.
The round was led by growth equity firm Insight Partners and was also backed by venture capital firms Bessemer Venture Partners (BVP) and Battery Ventures in addition to DFJ Growth, the growth-stage arm of venture firm DFJ.
Formerly known as Periscope Data, Sisense has built an analytics platform that helps app developers make large-scale and complicated data more straightforward, allowing them to build analytics apps that can be used throughout an organisation.
Amir Orad, Sisense’s chief executive, said: “With annual recurring revenues of over $100m for fiscal year 2019, and more than 2,000 customers ranging from Expedia to Philips, Tinder to Nasdaq and the Salvation Army, we have demonstrated market success, scale and traction.
“We are honoured to have these reputable investment partners support our growth strategy and continue on our fast track.”
The capital will be invested in enhancing the company’s product development, sales and marketing. The round came after an $80m round in September 2018 that was also led by Insight Partners and backed by existing investors, taking Sisense’s total funding to about $200m.
BVP led Sisense’s $50m series D round in 2016, investing alongside unnamed existing backers, following a $30m series C two years earlier led by DFJ Growth that included Battery Ventures, Genesis Partners and Opus Capital.
The latter three had supplied $10m in series B funding for the company in 2013, the year after it received $4m in a series A round featuring Opus Capital, Genesis Partners and co-founder Eli Farkash.
