Israeli startup Sisense, specializing in Big Data analytics, closes Series B funding round for $10M
SiSense Israel, specializing in Big Data analytics, announced the completion of its series B round of funding, closed at $10 million. The round was led by Battery Ventures together with Israeli VC’s, Opus Capital and Genesis Partners. Considering the fact that over the past year the company’s profits have increased by more than 500 percent while expanding its services to 49 countries across the globe, SiSense is showing no signs of slowing down and claims every intention of meeting the growing demand for its services.
Business Intelligence for All
Israeli start-up SiSense has a different kind of approach to the BI market, intending to make Big Data analytics accessible to any size organization, affording the big, the small and the cuddly, the opportunity to fully grasp their information far better than they ever have in the past. Existing solutions have differed greatly from one company to another due to case specific variables, but most share a prohibitive price tag that’s kept small businesses out of the game.
SiSense claims to be able to analyze Big Data solutions 100 times the In-Memory of today at minimal cost compared to its competitors. The company also goes out of its way to emphasize how they offer far more than just data analytics; their product suite now featuring SiSense Prism includes a complete business solution which they claim to be intuitive enough for even those who are more technologically challenged.
SiSense was founded in 2010 by Eldad Farkash and Elad Israeli and the company currently employs over 50 people divided amongst their two corporate offices, one in Israel, the other in the US. CEO Amit Ben-Dov expressed SiSense’s enthusiasm in being able to add the Battery Fund to its list of investors. In his words, given the recent increase in current sales value, it’s time to add more “fuel to the fire.” Ben-Dov added that the biggest challenge the company now faces is to increase sales and support in order to offer the best service for its customers, while at the same time, continuing to increase its overall customer base throughout 2013.