SiSense Closes $4M Series A FinancingBy Sisense Ltd, PRNE
Monday, July 12, 2010
Opus Capital, Genesis Partners, and Eli Farkash Invest in Next-Generation Business Intelligence Platform
NETANYA, Israel, July 13, 2010 - SiSense, a provider of leading-edge business intelligence (BI) solutions,
has secured $4 million in Series A funding from Opus Capital, Genesis
Partners and private investor Eli Farkash. SiSense will use the funding to
ramp up marketing and sales operations in the US, and to further develop its
ground-breaking BI product.
SiSense has been developing its technology for the past five years.
Unusual at the Series A funding stage, the company already has a shipping
product and dozens of paying customers.
Unlike traditional BI implementations, which require expensive and
time-consuming IT projects, data warehouse systems and custom coding,
SiSense's Prism delivers powerful, end-to-end BI which can be implemented in
a matter of hours with no special expertise. Unique technologies developed by
the company, including just-in-time in-memory processing, allow Prism to
execute complex ad hoc queries against millions or billions of records in
just seconds, using ordinary PC hardware.
"Business intelligence is a multi-billion dollar market overdue for some
serious technological innovation," said Dan Avida, General Partner, Opus
Capital. "We have been very impressed both with SiSense's founders and with
the fantastic technology they have developed. We are excited about helping
SiSense grow into a major force in the BI space."
"Both business users and IT experts are consistently amazed at the
ease-of-use, fast deployment and incredible performance of SiSense Prism in
real-world BI scenarios," said Elad Israeli, CEO and Co-founder, SiSense. "In
just a number of months, we have already sold our breakthrough BI product to
more than 80 companies. This new funding will enable us to communicate to the
wider market that an entirely new generation of fast, inexpensive,
do-it-yourself BI is now possible."
A free, full-featured 30-day trial version of SiSense Prism is available
for download at www.sisense.com.
SiSense is leading the way to a new era of business intelligence, where
fast and flexible BI is available to any business user analyzing any type or
amount of data. Based on advanced technologies developed during the course of
five years, SiSense delivers an end-to-end BI solution which allows
organizations to mash-up up variety of data sources containing mountains of
data into server-based interactive dashboards and reports in less than a day,
thus securing immediate ROI. SiSense customers enjoy very high performance
do-it-yourself BI, without IT projects, data warehouse systems, OLAP cubes or
programming. For more information and a free trial download of the software,
About Opus Capital
Opus Capital is an early-stage venture capital firm with more than $1
billion of committed capital under management, investing in committed, high
integrity entrepreneurs building market-leading technology companies. The
team has participated in the successful outcomes of more than 80 companies
(including 50 IPOs) in the US and Israel including Adaptec, AirGate PCS,
BlueNile, Brocade, Ciena, DoubleClick, Electronics for Imaging, FedEx,
Genesys, Harmonic, Informatica, Kidaro and Vantive. Opus Capital is
headquartered on Sand Hill Road in Menlo Park, California. For more
information, visit www.opuscapital.com.
About Genesis Partners
Genesis Partners is a leading Israeli venture capital firm focused on
Investing in the earliest stages of Israeli innovation in the information and
communication technology fields. early stage companies in the information and
communication technology (ICT) sectors. Established in 1996, Genesis Partners
manages over $600 million in capital commitments across four funds, and has
made over 80 investments with 28 successful exits, including AudioCodes
(Nasdaq: AUDC), ClickSoftware (Nasdaq: CKSW), Fundtech (Nasdaq: FNDT),
Modem-Art (acquired by Agere) and Allot Communications (Nasdaq: ALLT).
Genesis Partners has strong ties to the Israeli entrepreneurial community and
the global technology industry, and a strong team of venture professionals
with extensive experience in venture capital, technology, operations and
entrepreneurship. For more information, visit www.genesispartners.com.
About Eli Farkash
Eli Farkash, a private investor, co-founded SiSense and was the original
seed investor in the company.
For additional information, contact: Adi Azaria Email: firstname.lastname@example.org Tel.: +1-607-821-0629 (US/Canada) or +972-9-885-7973
For additional information, contact: Adi Azaria, Email: adi.azaria at sisense.com , Tel.: +1-607-821-0629 (US/Canada) or +972-9-885-7973.
Tags: Israel, July 13, Netanya, Sisense Ltd, Us