Sisense Explained

Sisense Inc.
Type:Private
Location City:New York City, United States
Locations:8
Industry:Software
Revenue: $100 million[1]
Owners:-->
Num Employees:Over 800

Sisense is an American business intelligence software company headquartered in New York City, United States. It also has offices in San Francisco, Scottsdale and in other locations.[2] [3]

History

Sisense was founded in 2004 in Tel Aviv, Israel, as a provider of business intelligence tools for small to midsize businesses.[4] [5] The company initially focused on research and development and did not formally publicize its products until 2010.[4] Initial investors included venture capital firms Genesis Partners and Opus Capital and private investor Eli Farkash.[4] [6]

By 2012, Sisense had raised $10 million and expanded its operations to the United States.[4] That same year, Amit Bendov was appointed as the company's new CEO.[7] Series B and C financing followed in 2013 and 2014, respectively, at which point Sisense had raised $44 million.[8] [9] TechCrunch noted that Sisense's growth and funding during this period reflected the degree to which it made big data analytics accessible to ordinary business users.[8] By 2014, the company had opened an office in New York and about 70 percent of its sales were in the U.S.[10] [9]

In 2015, Amir Orad was appointed CEO, replacing Bendov.[11] Orad previously served as CEO of NICE Actimize.[12] Series C and D funding followed in 2016 and 2018 respectively, bringing Sisense’s total funding to $174M over five rounds.[11] [13] [14]

In May 2019, Sisense acquired Periscope Data, a U.S. based company specializing in advanced analytics and predictive modeling.[15] [16] The combined company represented more than $100 million in annual recurring revenue, over 2,000 customers, and more than 700 employees.[15] [16] With another round of funding in January 2020, Sisense reached a valuation exceeding $1 billion, often referred to as unicorn status.[17]

In February 2021, Sisense was listed as a visionary on the Gartner Magic Quadrant for analytics and business intelligence platforms.[18] It was the fourth time the company had been named to the list.[19] [20] [21]

In 2022, Sisense began a series of massive layoffs, firing half of the company.[22]

In April 2023, Ariel Katz was appointed CEO, replacing Orad.[23] Katz previously served as Sisense’s Chief Products and Technology Officer (CPTO) and General Manager of Israel.

Technology

The company develops business intelligence software that allows users to access and analyze big data.[24]

The company's analytics suite, Sisense Fusion, uses artificial intelligence and machine learning to analyze data.[25] [24] The platform allows users to customize their analytics dashboards and data visualization by industry and by a user's role within a business.[25] [26] The software can also alert users to anomalous results.[27]

In 2019, the company acquired data science software company Periscope Data, and renamed its software Sisense for Cloud Data Teams.[28]

As of 2021, the software platform integrates with platforms such as Adobe Analytics, AWS, Microsoft Azure Synapse Analytics, and Snowflake to provide users with the data input for analysis.[25]

See also

Notes and References

  1. News: Lunden . Ingrid . Sisense nabs $100M at a $1B+ valuation for accessible big data business analytics . 9 January 2020 . January 9, 2020.
  2. News: Avidon . Eric . News Writer . 9 February 2021 . TechTarget . 9 February 2021.
  3. News: MTS . Staff Writer . Sisense Unveils AI-Driven Analytics Platform to Make Data Analytics Simple, Scalable and Actionable . 10 February 2021 . MarTechSeries . 10 February 2021.
  4. News: Inbal . Orpaz . December 17, 2012 . Israeli start-up makes big data bite-sized . Haaretz . August 12, 2021.
  5. News: Nathan . Eddy . August 11, 2009 . SiSense Offers Business Intelligence Tools for Cost-Conscious Companies . eWeek . Quinstree . SiSense, a provider of business intelligence tools for small to midsize businesses[.] . August 30, 2021.
  6. News: Goldenberg . Roy . Big data analytics co SiSense raises $8m . November 28, 2012 . Globes . August 18, 2021.
  7. Web site: Amit Bendov . www.bloomberg.com . 28 December 2021.
  8. News: Sisense Raises $30M More To Bring Big Data Analytics To Businesspeople . June 12, 2014. Ingrid . Lunden . TechCrunch . August 12, 2021 .
  9. News: 'Big Data for Little Computers' Firm Sisense Raises $30 Million . June 12, 2014 . Orr . Hirschauge . The Wall Street Journal . Dow Jones & Company, Inc . August 18, 2021.
  10. News: Cohen . Tova . Israel's SiSense sees surging demand for data analytics software . Reuters . May 27, 2014 . August 18, 2019.
  11. News: Gage . Deborah . January 7, 2016 . Under New CEO, Sisense Raises $50M . The Wall Street Journal . Dow Jones & Company, Inc. . August 12, 2021.
  12. News: Shulman . Sophie . September 2, 2020 . Valuation Is a Milestone, Not a Cause for Celebration, Says Sisense CEO . Calcalist . Yedioth Ahronoth Group . August 12, 2021.
  13. News: Sisense Raises Another $80M to Continue Pushing The Limits of Data Extraction . AlleyWatch . September 17, 2018 .
  14. Web site: Data analytics firm Sisense raises $80 million, to accelerate hiring. Reuters. September 12, 2018. June 25, 2022.
  15. News: Cohen . Tova . Data analytics firm Sisense buys U.S. firm Periscope Data . Reuters . May 5, 2019 . August 18, 2019.
  16. News: Miller . Ron . May 14, 2019 . Sisense acquires Periscope Data to build integrated data science and analytics solution . TechCrunch . August 18, 2021 .
  17. News: Halon . Eytan . January 11, 2020 . Meet Sisense - Israel's latest "unicorn" . The Jerusalem Post . Jpost Inc. . August 18, 2021.
  18. News: Brust . Andrew . As Power BI aces Gartner's new Magic Quadrant, what's the story behind Microsoft's success? . 19 February 2021 . ZDNet . 19 February 2021.
  19. News: Whiting . Rick . March 15, 2018 . Here's Who Made Gartner's 2018 Magic Quadrant For Business Intelligence And Analytics Platforms. CRN . The Channel Company . August 18, 2021.
  20. News: Ghahremani . Yasmin . Tech Companies to Watch 2019: Sisense . CFO . Industry Dive . May 2, 2019.
  21. Web site: February 11, 2020 . Gartner Magic Quadrant for Analytics and Business Intelligence Platforms . Gartner . August 18, 2021.
  22. Web site: 2024-01-11 . Business intelligence unicorn Sisense sacking 13% of workforce in second round of layoffs in six months . 2024-03-01 . ctech . en.
  23. Web site: Sisense Announces CEO Transition and Key Promotions; Hits Major Financial Milestones . 2024-04-01 . Sisense . en.
  24. News: Lunden. Ingrid. Sisense nabs $100M at a $1B+ valuation for accessible big data business analytics. TechCrunch. January 9, 2020 . August 1, 2021.
  25. News: Adams. R. Dallon. The 5 best data visualization tools for every business. ZDNet. May 4, 2021. August 1, 2021.
  26. News: Olavsrud . Thor . Sayer . Peter . January 15, 2021 . Top 12 business intelligence (BI) tools for 2021 . CIO . August 1, 2021.
  27. Web site: Sisense Pulse uses machine learning to trigger data anomaly alerts – TechCrunch. techcrunch.com. en-US. 2018-06-12.
  28. News: Whiting. Rick. Big Data Developer Sisense Raises $100 Million In Financing, Hits $1 Billion Market Cap. CRN. January 10, 2020. October 10, 2021.

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