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May - 2013 - issue > Venture Chakra
SiSense raises $10 Million from Battery Ventures in Second Round of Funding
SI Team
Sunday, May 5, 2013
SiSense, a California based provider of business intelligence, has raised $10 million in its second round of funding. This round was led by Battery Ventures in participation with Opus Capital and Genesis Partners. In the first round, SiSense acquired $4 Million from Opus Capital, Genesis Partners and private investor Eli Farkash, who co-founded SiSense and was the original seed investor in the company.

SiSense has created an attractive new approach to data analysis by combining columnar technology with 'in-memory' speed to analyze huge amounts of data, all on a single node that is easy to install for the client. Sisense's products are far superior to existing solutions that are available in the market; today, deploying complex Hadoop clusters or data warehouse appliances designed to handle petabytes are expensive and complicated but this new business intelligence company can crunch 100 times more data at a fraction of the cost. SiSense positions its products as an alternative to traditional Business Analytics tools. Its software can be deployed on premise or on the cloud.

Founded in 2004, the company is currently experiencing exponential growth according to Amit Bendov, CEO, SiSense. Its subscription rates climbed to 520 percent in the last year and it is still climbing. "We currently have more business than we can handle," says Bendov. The company is reportedly in the initial stages of building a channel program.

While the company is growing at a rapid pace, the CEO says that the new funding will be used to enhance the marketing and sales capabilities to maintain its current momentum. The company also intends to expand its customer support services.
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