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Pyramid Analytics raises USD 25mn
Posted on Thursday, 26 March 2020 14:38
Pyramid Analytics, a Dutch next-generation business intelligence (BI) platform, has raised USD 25.00 million in growth equity funding from Jerusalem Venture Partners (JVP).
The company is looking to use the cash to fuel its growth, with the funding round also including Sequoia Capital, Viola Growth and Maor Investments.
Pyramid Analytics is hoping the additional funding will help it achieve a leadership position in the enterprise business intelligence category.
It had a record year in 2019, signing up hundreds of new customers and announcing strategic partnerships with leading companies.
The business is offering a mission-critical platform for organisations navigating through health and financial turmoil.
Pyramid Analytics will be able to expand its global footprint, deepen strategic alliances with partners and assume a leadership position in the market.
The value of the funding round confirms the group’s total worth as a cross-department analytic platform.
Pyramid Analytics achieved an “extraordinary” 68 number one placements and a further 108 leading positions in the BI Survey 19 from analyst firm BARC.
Erel Margalit, founder of JVP, said: “Our investment in Pyramid represents a continuation of the strategy to invest in companies that take the BI industry forward. Pyramid Analytics is enabling the world's largest companies to analyse information in a modular, smart, easy, and fast way.
“Pyramid delivers ease of use, similar to departmental tools like Qlik and Tableau, side by side with enterprise readiness, similar to SAP.”
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 29 minority stake deals targeting companies based in the Netherlands and involving private equity, venture capital and development capital investors announced in 2020 to date.
In the biggest of these, real estate portfolio manager European Logistics Investment received EUR 83.70 million from Madison International Realty in exchange for a 46.5 per cent stake.
Other targets also included chocolate maker Tony's Factory biotech group NorthSea Therapeutics and therapeutic agent developer Azafaros.
© Zephus Ltd