Pyramid Analytics secures $120 million and will expand distribution partnerships

The company combines data preparation, business analytics and data science with AI guidance in a single environment.

Pyramid Analytics just secured $120 million in funding, bringing the company’s total venture capital raise to over $200 million.

The funding round was led by HIG Growth Partners, the dedicated growth capital investment arm of HIG Capital. Additional participation came from Clal Insurance Enterprises Holdings, Kingfisher Capital and General Oriental Investments. The first investors to participate in this new round are JVP, Maor Investments, Sequoia Capital and Viola Growth.

Pyramid will invest the $120 million to drive growth and make Pyramid the “next leader in analytics,” the company said.

Decision intelligence

Omri Kohl of Pyramid

Omri Kohl is CEO and co-founder of Pyramid.

“I am gratified and honored by the confidence that some of the best technology investors in the world have shown in Pyramid. The overwhelming interest from the venture capital community underscores the importance of the problems we help our clients solve and the innovations we have introduced to help businesses in ways that legacy BI tools and analytics could not. not. 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 and advocacy of our customers. All the elements are in place to accelerate Pyramid on the path to becoming the next leader in business analytics.

Pyramid is a business intelligence platform provider, next-generation business analytics for the enterprise. The company automates the decision-making process so people can make smarter decisions faster. By uniquely combining data preparation, business analytics, and data science with AI guidance in a single environment, Pyramid says its platform reduces cost and complexity while accelerating growth and innovation. This enables a strategic approach to organization-wide business intelligence and analytics.

Allocation of funds

Pyramid will allocate funds to:

  • Continuously innovate the Pyramid Decision Intelligence Platform to better meet customers’ business analytics needs. The company will continue to define the emerging business intelligence market. Additionally, it will maintain a technological edge over legacy business intelligence tools such as Microsoft Power BI, Qlik, and Tableau.
  • Expand the company’s global geographic presence. It will capture a larger share of the analytics market and increase channel partnerships with complementary technology companies, independent software vendors (ISVs), consulting firms, value-added resellers (VARs), and integrators systems (IS).
  • Enhance Pyramid’s customer experience with unparalleled service and support, professional learning and certification, and network and community.
  • Become a strong employer brand in analytics to effectively hire, reward, and retain top talent, including customer success, marketing, sales, engineering, and software development.
Scott Hilleboe of HIG Growth Partners

Scott Hilleboe of HIG Growth Partners

Scott Hilleboe is co-director at HIG Growth Partners.

“HIG partners with industry-leading companies to drive transformative change. The pyramid is a model of transformation. The Pyramid Decision Intelligence Platform has disrupted analytics and business intelligence (ABI) by redefining what’s possible when the power of data insights is available to everyone.

He said HIG is excited to partner with Pyramid in its next stage of growth.

“Pyramid generates exceptional ROI for clients by enabling them to make faster, smarter decisions by leveraging advanced analytics and data insights. I am thrilled to join the Board of Directors and collaborate with an outstanding management team that has brought truly innovative and differentiated technology to market.