TEL AVIV (Reuters) - Business intelligence software provider Sisense said on Thursday it raised $50 million in an investment round led by Bessemer Venture Partners.
Israel-based Sisense’s software helps companies understand their data, enabling non-technical staff to connect multiple data sources and prepare professional reports.
The company’s revenue has been growing by over 100 percent for five consecutive years and it added hundreds of new customers in 2015. Clients include Target and Samsung.
The Calcalist financial news website said Sisense was valued at about $650 million before the latest round of funding.
“We expect Sisense’s momentum to accelerate and believe the company will capture a sizable chunk of the $33 billion big data and business analytics opportunity,” Bessemer partner Bob Goodman said.
Chief Executive Amir Orad said the investment will enable the company to expand operations more quickly and accelerate innovation in the business analytics market.
Some of the funds will be used to open an office in the UK, the company said.
Reporting by Tova Cohen