Amsterdam-based Pyramid Analytics, a company that provides insights for employees across the organisation with enterprise-level business analytics software, announced on Monday that it has raised $120M (approximately €113.58M) in its Series E round of funding. With this round, the company has now raised a total of more than $200M (approximately €189.3M) in funding, to date.
The round was led by H.I.G. Growth Partners, the dedicated growth capital investment affiliate of H.I.G. Capital, an investment firm with over $48B of equity capital under management. As part of the deal, Scott Hilleboe, co-Head, H.I.G. Growth Partners, will join the Pyramid Board of Directors.
Besides H.I.G., Clal Insurance Enterprises Holdings, Kingfisher Capital, and General Oriental Investments also participated in this round along with early investors JVP, Maor Investments, Sequoia Capital, and Viola Growth.
The development comes after Pyramid Analytics announced joining Amazon Web Services’ ISV Accelerate programme. Through this, Pyramid and AWS will co-sell and support the Pyramid Decision Intelligence Platform on the AWS cloud.
The raised capital will help the company to expand its services in different geographies, capture a larger share of the total addressable market for analytics, and increase channel partnerships with technology companies, independent software vendors (ISV), consulting firms, value-added resellers (VAR), and systems integrators (SI).
What is Decision Intelligence?
According to Pyramid Analytics, Decision Intelligence is the next big innovation in analytics that will accelerate data-driven transformation. People are now interested in making decisions with data and hence more sophisticated analytics are in demand. Decision Intelligence is designed to speed up insights, scale adoption, and simplify analytics.
More people want and require access to data to make faster, more intelligent decisions. These include internal and external non-technical stakeholders. Decision Intelligence empowers anyone to make faster, more intelligent decisions.
“Building a movement around decision intelligence”
Founded in 2008 by Avi Perez, Herbert Ochtman, and Omri Kohl, Pyramid Analytics is a decision intelligence platform provider. It offers insights for anyone to make faster, more intelligent decisions.
Yoav Tzruya, General Partner at JVP, says, “Analytics solutions, and especially BI systems, have struggled for more than 2 decades, with the promise of delivering enterprise-wide decision-support capabilities. Today, such solutions are further crippled, coming up short on the support for diverse and distributed data sources, ever-increasing quantities of data, and intuitive user experience, while providing needed enterprise capabilities. Pyramid Analytics is the only solution that brings decision intelligence capabilities for anyone to make faster, more intelligent decisions.”
The company’s platform provides instant access to any data, enables automated governed self-service for users, and serves any analytics need. The platform also reduces cost and complexity and accelerates growth and innovation by combining data prep, business analytics, and data science with AI guidance. This enables a strategic, organisation-wide approach to business intelligence and analytics.
Currently, the company helps more than one million decision-makers to make faster, more intelligent decisions. Incorporated in Amsterdam, the company has regional headquarters in global innovation and business centres, including London, New York City, and Tel-Aviv.