Pyramid Analytics raised 120 million dollars after completing the fifth funding round, bringing the total amount the company has raised to 211 million dollars. The round was led by H.I.G. Growth Partners, with the participation of Clal Insurance Enterprises Holdings, Kingfisher Capital and General Oriental Investments and the first investors JVP, Maor Investments, Sequoia Capital and Viola Growth.
The funds are intended to further develop the company’s product, in the rapidly emerging data-driven decision market, Pyramid Analytics emphasizes that there is more data available for analysis than ever before, more people are interested in making decisions with data, and that there is a demand for more sophisticated analyses of it.
“For the most part, investment funds are intended to solve our clients’ problems and to innovate in order to help businesses in ways that BI tools and old analytics couldn’t. This milestone is a testament to the intelligence and hard work of our employees around the world, the commitment of our partners and the trust our customers show.All of the above contribute to Pyramid’s emergence as the future leader in business analytics.”, said Pyramid CEO Omri Kohl.
The company was founded 13 years ago by CEO Omri Kohl, CTO Avi Peretz and EVP business development Herbert Ochtman.In 2021, it had revenues of 50 million dollars while this year it is estimated that the amount will approach 90 million dollars. The company employs 250 employees, including 80 at its development center in Israel. Over the next year, Pyramid Analytics plans to hire 150 more people, including 60 in Israel.