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FREMONT, CA: Sisense, an Israel-based business intelligence startup, has recently acquired the resources, people, and overall business operations of Cloud data analytics company called Periscope Data.
Periscope has clientele consisting of major players such as Adobe, Crunchbase, Tinder, and ZipRecruiter. The ’company’s employees, along with the board members, will be integrated into the acquiring company, Sisense. The Israel-based company currently employs approximately 700 people across the globe, including Israel, New York, London, Arizona, Kiev, Tokyo, and Melbourne. With the closure of the acquisition, Sisense will crossover the $100 million mark in annual recurring revenue.
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The company was founded in 2004 in Israel and has raised funds worth $200 million, from conception to date. The Sisense analytics platform offers a complete end-to-end business Intelligence platform that reinforces data engineers, developers, and research analysts to build analytics apps that deliver interactive experience between the platform and the user. Sisense has always targeted business experts and investors, with the drag-and-drop UI by the utilization of machine learning algorithms. The company’s products are relatively easy to use, without any compulsion of knowing SQL, Python, or R. The key investors who participated in the continuum, with the company include Insight Partners, Bessemer Venture Partners, and Battery Ventures. The customer base of the firm comprises the Nasdaq exchange, Phillips, Spotify, and General Electric.
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As the business intelligence firm believes cloud, Big data, AI & machine learning are accelerating a transition. The transition will convert all companies to be a data-driven as well as products manufactured.
The merger has been in talks amongst the companies Sisense and Periscope, from the past 18 months. The key players believe that the merger will accelerate the growth of the company. The kick-start of development occurs by enhancing the quality of the company with several opportunities. The growth is diverted towards the potential conversion of the company to being publicly held.
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