SiSense, a business intelligence startup that is among those making big data analytics accessible to ordinary business users (and not just data scientists) is today announcing more funding: a $30 million Series C round led by DFJ Growth — the VC’s arm dedicated to later-stage investments that recently announced a new fund we understand to be totalling over $500 million (in May, its size was ‘only’ $470 million).
Others backing the startup include existing investors Battery Ventures, Genesis Partners and Opus Capital. SiSense, which was founded in 2004, has only recently been stepping up its game in terms of outside investment. It last raised $10 million a year ago and including the round being announced today has now raised $44 million.
The company, whose CEO Amit Bendov had said it is eyeing up an IPO eventually, is not yet profitable, but it is growing fast. It expects to sales to triple this year over last and to reach profitability by 2015. The funding will be used to help drive more business for SiSense in the U.S. Founded in Tel Aviv, SiSense already has an office in New York and makes some 70% of its sales in the U.S. It plans to open an office in Silicon Valley by early next year.
The product that SiSense has developed is distinctive on two levels: the first in terms of who it is targeting and the second in terms of how it’s delivering its services.
This article has been extracted from http://techcrunch.com, please click on this link to read the article in full http://techcrunch.com/2014/06/12/sisense-raises-30m-more-to-take-big-data-analytics-to-businesspeople/
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