Israeli decision intelligence platform provider Pyramid Analytics, announced on Monday the completion of a $120 million Series E funding round to finance the company’s continued innovation advantage and hyper-growth.
The round was led by global investment firm H.I.G. Growth, alongside participation from insurance and financial services provider Clal Insurance Enterprises Holdings, investment firms Kingfisher Capital and General Oriental Investments, and prior investors JVP, Maor Investments, Sequoia Capital, and Viola Growth.
The new capital brings Pyramid Analytics’ total funding to just over $200 million.
In addition to augmenting its analytics capabilities, Pyramid Analytics will allocate its latest funds towards expanding its global geographic presence and form partnerships with compatible tech companies, independent software vendors (ISV), consulting firms, and value-added resellers (VAR), and systems integrators (SI). The company also aims to hire a broad range of experienced employees for its marketing, sales, software engineering and development, and customer success departments to ultimately improve customer experience.
Founded in 2009, Pyramid Analytics is an enterprise business intelligence and data analytics software company that is pioneering decision intelligence, an engineering discipline designed to speed up insights, scale adoption, and simplify analytics. The Pyramid Decision Intelligence Platform combines data prep, business analytics, and data science with AI guidance in a single environment, which reduces cost and complexity. More than one million decision-makers rely on Pyramid to make faster, more intelligent decisions. Pyramid Analytics has regional offices in global innovation and business centers in Amsterdam, London, New York City, and Tel Aviv.
“I am gratified and humbled by the confidence some of the world’s best technology investors have exhibited in Pyramid; the technology, company, and people,” said Omri Kohl, co-founder and CEO of Pyramid Analytics. “Overwhelming interest from the venture capital community underscores the importance of the problems we help our customers solve and the innovations we introduced to help enterprises in ways BI tools and legacy analytics could not. This milestone is a testament to the intellect and hard work of our employees across the globe, commitment of our partners, and trust and advocacy of our customers. All elements are in place to speed Pyramid down the path to being the next enterprise analytics leader.”
“The Pyramid Decision Intelligence Platform upended analytics and business intelligence (ABI) by redefining what’s possible when the power of data insights is available to everyone,” said Scott Hilleboe, co-head of H.I.G. Growth Partners. “H.I.G. is excited to partner with Pyramid in their next stage of growth. Pyramid drives exceptional ROI to customers by empowering them to make faster, more intelligent decisions leveraging advanced analytics and data insights.