Sisense to merge with Periscope Data, forming analytics powerhouse
By Maria Deutscher
Sisense Inc. and Periscope Data Inc., two prominent analytics startups that have raised a combined $207 million in funding, today announced plans to merge into a single company.
The move will create a firm with more than 2,000 customers representing north of $100 million in annual revenue. With this expanded market reach, the new company should be in a better position to take on Tableau Software Inc. and the other publicly traded providers that lead the business intelligence market.
Under the merger agreement, the combined entity will operate under the Sisense brand once the deal goes through. New York-based Sisense has raised $174 million from investors including DFJ Growth, Bessemer Venture Partners, and Battery Ventures.
The startup offers a business intelligence platform that enables workers to turn data from their companies’ systems of record into interactive visualizations. One of Sisense’s main differentiators is that it doesn’t require deep analytics know-how to use.
The software packs hundreds of prepackaged graph templates, as well as artificial intelligence features that partially automate tasks such as filtering erroneous data. Sisense counts the operator of the Nasdaq Stock Market, Verizon Communications Inc. and General Electric Co. among its customers.
Periscope Data offers an analytics platform geared toward more technically savvy users. The startup has built out extensive data integration features that provide the ability to combine information from multiple sources into a single dashboard. A marketing team, for instance, could create a report that displays Google Ads performance metrics alongside statistics about a company’s Facebook and Twitter presence.
The startups plan to combine their offerings into an “end-to-end analytics” platform that will target both regular business users and tech-savvy analysts. Sisense’s current product is set to serve as the platform’s foundation. It will be augmented with Periscope Data’s data integration features along with its connectors for third-party analytics tools, as well as query editor, which allows analysts to manipulate records using three different programming languages.
The combined company will be led by Sisense Chief Executive Amir Orad. Periscope Data co-founders Harry Glaser and Tom O’Neill are set to take on unspecified leadership roles.