SiSense Closes $4M Series A Financing

NETANYA, Israel, July 13, 2010 /PRNewswire/ -- SiSense, a provider of leading-edge business intelligence (BI) solutions, has secured $4 million in Series A funding from Opus Capital, Genesis Partners and private investor Eli Farkash. SiSense will use the funding to ramp up marketing and sales operations in the US, and to further develop its ground-breaking BI product.

SiSense has been developing its technology for the past five years. Unusual at the Series A funding stage, the company already has a shipping product and dozens of paying customers.

Unlike traditional BI implementations, which require expensive and time-consuming IT projects, data warehouse systems and custom coding, SiSense's Prism delivers powerful, end-to-end BI which can be implemented in a matter of hours with no special expertise. Unique technologies developed by the company, including just-in-time in-memory processing, allow Prism to execute complex ad hoc queries against millions or billions of records in just seconds, using ordinary PC hardware.

"Business intelligence is a multi-billion dollar market overdue for some serious technological innovation," said Dan Avida, General Partner, Opus Capital. "We have been very impressed both with SiSense's founders and with the fantastic technology they have developed. We are excited about helping SiSense grow into a major force in the BI space."

"Both business users and IT experts are consistently amazed at the ease-of-use, fast deployment and incredible performance of SiSense Prism in real-world BI scenarios," said Elad Israeli, CEO and Co-founder, SiSense. "In just a number of months, we have already sold our breakthrough BI product to more than 80 companies. This new funding will enable us to communicate to the wider market that an entirely new generation of fast, inexpensive, do-it-yourself BI is now possible."

A free, full-featured 30-day trial version of SiSense Prism is available for download at http://www.sisense.com.

About SiSense

SiSense is leading the way to a new era of business intelligence, where fast and flexible BI is available to any business user analyzing any type or amount of data. Based on advanced technologies developed during the course of five years, SiSense delivers an end-to-end BI solution which allows organizations to mash-up up variety of data sources containing mountains of data into server-based interactive dashboards and reports in less than a day, thus securing immediate ROI. SiSense customers enjoy very high performance do-it-yourself BI, without IT projects, data warehouse systems, OLAP cubes or programming. For more information and a free trial download of the software, visit http://www.sisense.com.

About Opus Capital

Opus Capital is an early-stage venture capital firm with more than $1 billion of committed capital under management, investing in committed, high integrity entrepreneurs building market-leading technology companies. The team has participated in the successful outcomes of more than 80 companies (including 50 IPOs) in the US and Israel including Adaptec, AirGate PCS, BlueNile, Brocade, Ciena, DoubleClick, Electronics for Imaging, FedEx, Genesys, Harmonic, Informatica, Kidaro and Vantive. Opus Capital is headquartered on Sand Hill Road in Menlo Park, California. For more information, visit http://www.opuscapital.com.

About Genesis Partners

Genesis Partners is a leading Israeli venture capital firm focused on Investing in the earliest stages of Israeli innovation in the information and communication technology fields. early stage companies in the information and communication technology (ICT) sectors. Established in 1996, Genesis Partners manages over $600 million in capital commitments across four funds, and has made over 80 investments with 28 successful exits, including AudioCodes (Nasdaq: AUDC), ClickSoftware (Nasdaq: CKSW), Fundtech (Nasdaq: FNDT), Modem-Art (acquired by Agere) and Allot Communications (Nasdaq: ALLT). Genesis Partners has strong ties to the Israeli entrepreneurial community and the global technology industry, and a strong team of venture professionals with extensive experience in venture capital, technology, operations and entrepreneurship. For more information, visit http://www.genesispartners.com.

About Eli Farkash

Eli Farkash, a private investor, co-founded SiSense and was the original seed investor in the company.

    For additional information, contact:
    Adi Azaria
    Email: [email protected]
    Tel.: +1-607-821-0629 (US/Canada) or +972-9-885-7973

SOURCE Sisense Ltd