Based out of Amsterdam, Pyramid Analytics, the next-generation business intelligence platform secures $25 million (€22.6 million) growth equity funding led by Jerusalem Venture Partners (JVP), with participation from existing investors Sequoia Capital, Viola Growth, and Maor Investments.
Aims to expand global footprint!
According to the company, the funding will be used to expand Pyramid Analytics’ global footprint, deepen strategic alliances with partners, and assume a leadership position in the market. This round of financing comes as Pyramid Analytics expands its position as an independent key player in a space that has seen major market consolidation.
Pyramid Analytics’ enterprise-grade platform can be deployed instantly across the organization to give organizations immediate visibility into their operational data to react quickly to dramatic business changes.
Signed hundreds of new customers in 2019!
Founded in 2008 by Avi Perez, Herbert Ochtman, and Omri Kohl, Pyramid Analytics is a global BI&A leader offering an analytics platform that helps companies compete as world-class data-driven organisations. Last year, the company had signed hundreds of new customers and announced strategic relationships with leading partners.
Notably, the Dutch company‘s enterprise-grade platform can be deployed instantly across the organization to give organizations immediate visibility into their operational data to react quickly to dramatic business changes.
Features self-service BI capabilities!
Furthermore, Pyramid features complete self-service BI capabilities – including a robust end-user ETL, augmented data discovery and visualization capabilities, and presentations and report bursting. It allows users of all skill levels to quickly share insights from any browser or device—while preserving data governance and security.
Back in 2019, Pyramid focused on augmented analytics, product flexibility, and ease of deployment. In addition to ETL tool upgrades, Pyramid added integration capabilities for customers on SAP, including SAP BW. Through it all, the company has focused on customer experience and ease of use so the platform can be used across the organisation.
Omri Kohl, co-founder, and CEO, Pyramid Analytics, said:
We are thrilled to have JVP as an investment partner to help fuel the Pyramid’s growth. JVP rightly sees the importance of enterprise-ready self-service BI, which can serve as a financial vaccine in uncertain economic times. While other BI companies have focused on developing market awareness, we’ve taken a product-first approach to our go-to-market strategy. Our strategy emphasizes true enterprise BI capabilities that are highly flexible and scalable. Now, with this funding, we’re ready to share our story. It’s an exciting time for Pyramid and our customers.”
Erel Margalit, founder, and chairman of JVP:
”Investing in companies in the AI and BI domains is part of our strategy, and Pyramid Analytics is bringing breakthrough developments to these markets. Ten years ago, we were QlikTech’s leading investors and took it, along with its management team, to become a successful NASDAQ IPO, with annual sales of hundreds of millions of dollars and an overall valuation of $4bn. Our investment in Pyramid represents a continuation of the strategy to invest in companies that take the BI industry forward. Pyramid Analytics is enabling the world’s largest companies to analyze information in a modular, smart, easy, and fast way. Pyramid delivers ease of use, similar to departmental tools like Qlik and Tableau, side by side with enterprise readiness, similar to SAP. The successful combination of groundbreaking technology and experienced entrepreneurs with a proven track record denotes a great opportunity that we are proud to be a part of and lead to become the next category leader”.
Main image credits: Pyramid Analytics
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