Big data co SiSense raises $10m

SiSense said that it would use the proceeds "to meet intense demand for its solution." The company's Prism solution operates in the area of 0.5-100 terabytes of data.

Big data analytics company SiSense Ltd. has raised $10 million in its second financing round. Battery Ventures led the round, joined by current investors, Genesis Partners and Opus Capital. SiSense said that it would use the proceeds "to meet intense demand for its solution."

SiSense has raised $23 million since it was founded in 2004 by CPO Elad Israeli and CTO Eldad Farkash. The company's Prism solution operates in the area of 0.5-100 terabytes of data, the amount of data held by most of the world's businesses. The company says that its Prism solution can analyze 100 times more data than traditional in-memory solutions, at a fraction of the cost, and can analyze on one node what normally requires 20 nodes.

SiSense says that its subscription revenue rose 520% in the past year, and that it has won customers in 49 countries.

SiSense CEO Amit Bendov said, “We are experiencing exponential sales growth and incredible buzz in the market now it’s time to add oil to the fire. Our biggest challenge right now is growing the sales force and the support teams quickly enough to keep up with the demand."

Published by Globes [online], Israel business news - www.globes-online.com - on April 3, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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