NEW YORK--(BUSINESS WIRE)--Sisense, disrupting the BI market by simplifying business analytics for complex data with its innovative In-ChipTM analytics, today announced that it has more than doubled its revenue for the fifth consecutive year. The company is revolutionizing the $33 billion business analytics market, empowering everyday business users to manage, analyze and visualize complex data quickly and cost-effectively. In 2015, Sisense added hundreds of customers, from Fortune 500 firms to small businesses, including Skullcandy, Amplifinity and Time Warner Cable, expanding its global footprint across 50 countries. The company also broke new records with consecutive quarters of greater than 100 percent net renewal from its existing customer base.
Sisense recently closed $50 million in new financing, led by Bessemer Venture Partners (BVP). With record results across all key operating metrics, BVP seized the opportunity to lead the company’s funding. All key existing investors joined BVP in the Series D round. The new funding will be used to continue investing in innovation, focused on simplifying analytics for large, multi-source data sets, while rapidly expanding business operations in support of Sisense’s global growth.
“2015 was a landmark year for Sisense,” said CEO Amir Orad. “Our rapidly-expanding customer base and continued growth of more than 100 percent annually are proof that we are changing the game in business analytics. With Sisense, business users are no longer dependent on IT teams; they can tap into data insights autonomously, and act on them immediately,” he added. “Besides our revenue growth, I'm most proud of our customer-focused approach. Their success is our success, and our relentless focus on that front has resulted in consecutive quarters of the ‘holy grail’ in customer success, over 100 percent net renewal."
According to Aberdeen Group’s Analytics & Business Intelligence Research Analyst Peter Krensky, “Users want to engage, but they are easily overwhelmed by their vast data; the typical analyst touches 30 unique data sources on a regular basis. Users can really struggle to access large data volumes and analyze all the available data...Best in class companies, in the top 20% in revenue and operating profit improvement, grow their explorable data three times faster and have the tools to handle this data complexity.”
Skullcandy, the leader in world-class audio and gaming products and a new Sisense customer in 2015, echoed Peter’s sentiment. “We had some on-going data challenges,” said Brent Allen, Director at Skullcandy. “Sisense allowed us to easily join multiple data sets to get a single version of the truth. It has empowered users to take charge of their data and own it.”
On the leadership front, Sisense announced the appointment of Amir Orad, an experienced CEO, entrepreneur and big data analytics thought leader in early 2015. The company also appointed Todd Sloan Chief Financial Officer in November. Sloan formerly served as CFO at NetRatings (NTRT), About.com (BOUT) and Tremor Video (TRMR) and has significant experience scaling companies pre- and post-IPO. Other executives joining Sisense in 2015 include SVPs from LivePerson, RSA Security and NICE Systems.
“When I was approached by Sisense to join their executive team, I was blown away by their approach to analytics,” said CFO Todd Sloan. “The company is far ahead of the competition when it comes to delivering what business users really need to tackle today’s complex data crisis. I am excited about joining the Sisense management team and look forward to taking a part in scaling Sisense to new heights in 2016 and beyond.”
Sisense’s explosive growth comes at a time when organizations of all sizes are grappling with how to make complex data actionable. According to Ventana Research, 70 percent of organizations struggle to integrate multiple data sources. Sisense’s proprietary In-Chip™ analytics addresses the complex data challenge head-on, processing data 100X faster than competitive solutions and eliminating the need for cumbersome data preparation, large operational budgets or specialized IT skills. The company’s newly-released Sisense version 6.0 is making the platform even more agile by allowing access to R’s robust set of tools and predictive models, and includes an Open Database Connectivity (ODBC) layer that leverages data from Sisense with third-party tools such as Excel, Tableau or Crystal Reports.
Sisense received numerous awards in 2015 including ranking 47th among the Deloitte Technology Fast 500 EMEA; Ventana Research’s 2015 Information Technology Innovation Award for Business Intelligence; Frost & Sullivan’s Customer Value Leadership Award for BI; and Celestica’s Total Cost of Ownership Supplier Award.
To hear more from Peter Krensky and Brent Allen, click here.
To learn more about Sisense, please visit: http://www.sisense.com/
About Sisense
Sisense simplifies business analytics for complex data. Powered by its unique In-Chip™ and Single Stack™ technologies – Sisense delivers unmatched performance, agility and value, eliminating much of the costly data preparation traditionally needed with business analytics tools and providing a single, complete tool to analyze and visualize large, disparate data sets without IT resources. With more than one thousand customers in over 50 countries, including global brands like Target and Samsung, Sisense was recently designated a hot company to watch by CIO, CRN and Information Management and recognized as one of the “10 Most Innovative IT Ventures” at Under the Radar. Its solution won the “Audience Choice” award at the O’Reilly Strata conference and its CTO won the World Technology Award for the invention of In-Chip analytics.
