As the power of data continues to fuel every industry, business intelligence (BI) is a growing sector of the software-as-a-service (SaaS) market. BI helps companies transform information into actionable strategies for creating new revenue opportunities or improving existing systems. Pyramid Analytics is one company in the BI software industry that is attracting interest — and significant financial investments.
In early May 2022, Pyramid announced that it had raised $120 million in Series E financing co-led by H.I.G. Growth Partners, Clal Insurance Enterprises Holdings, and General Oriental Investments, giving the company a nearly $1 billion valuation. The company has now raised a total of $200 million in venture capital since its founding in 2009. Early investors who participated in this new round include JVP, Maor Investments, Sequoia Capital, and Viola Growth.
Pyramid has big plans for its major infusion of capital, including strategic investment into driving hyper growth and accelerating its technology. The company also intends to expand its global presence and capture a greater share of its industry’s Total Addressable Market, which some predict will reach $33.3 billion by 2025.