For that reason, we decided to balance our expenditures as per our income forecasts and this week decreased our team by 9% globally and 75 locally, without lowering the remaining team members’ salaries. As painful as it is, this move strengthens the company, its remaining employees, and its clients and ensures our continued growth and ability to invest in future development.”
Last January, Insight Partners led a $100 million investment round according to a valuation of $1.1 billion for the company that developed a cloud-based business intelligence platform that uses artificial intelligence algorithms to analyze organizational data. The company has raised $200 million to date from investors including Insight Partners, Battery Ventures, and Bessemer Venture Partners. Sisense is estimated to have closed out 2019 with earnings of approximately $100 million.
In May 2019 Sisense purchased Silicon Valley-based data analytics company Periscope Inc., known as Periscope Data. The financial details were not disclosed but one person familiar with the matter who spoke with Calcalist on condition of anonymity said it was a stock deal valued at over $100 million. The purchase grew the number of Sisense’s employees to over 700, 250 of them based out of Israel.
What to learn from the article?
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Periscope inc. -
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