Data analytics might not be the flashiest use of AI out there, but it’s certainly attracting the attention of investors. Case in point: Sisense today announced an $80 million funding round led by Insight Venture Partners that brings its total haul close to $200 million. As part of the round, Zack Urlocker, a former chief operating officer at Zendesk, will join the startup’s board of directors.
CEO Amir Orad said the company will use the new capital to hire employees, increase its global footprint, and make additional investments in its machine learning and artificial intelligence (AI) labs.
“It is our people and our culture that form the foundation for the growth of this incredible company,” he said. “It’s a major achievement that we’ve accomplished together. I could not be more proud to be part of this amazing team.”
Sisense’s eponymous platform analyzes enterprise data and delivers insights in a variety of formats, from mobile apps and chatbots to voice assistants like Amazon’s Alexa and the Google Assistant. It’s all customizable from a dashboard that doesn’t require any technical knowledge or coding experience.
Sisense’s more than 1,000 customers range from startups to global Fortune 50 brands and include Expedia, Philips, Rolls Royce, Air Canada, Accenture, Wix, GE, and Oppenheimer.
“Every business is facing the challenge of extracting relevant and accurate insights from ever-growing amounts of data and data sources,” Orad said. “We are honored that Insight Venture Partners has joined our mission to empower everyone by making data-driven insights instantly accessible everywhere.”
Sisense, which was founded in 2010 and is headquartered in New York, has more than 450 employees spread across offices in New York, Tel Aviv, Kiev, Tokyo, and Arizona. It’s one of Israel’s most valuable startups, with an estimated valuation of between $650 million and $900 million.
It’s certainly in a profitable market. The business analytics sector is forecast to be worth $71.1 billion by 2022, according to Strategy MRC.