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Business intelligence firm Pyramid Analytics raises $120 million for expansion

Written by Thu 12 May 2022

In a Series E funding round led by H.I.G. Growth Partners, business intelligence and analytics firm Pyramid Analytics raised $120 million. Pyramid Analytics calls itself a ‘decision intelligence’ platform, which it says is the next major innovation in analytics that will accelerate data-driven transformation.

By leveraging the potential of AI tools to automate elements of the collection and analysing of business data, Pyramid Analytics is working to drive forward innovation in its Pyramid Decision Intelligence Platform and offers a technological edge over legacy business intelligence tools.

The $120 million investment will be used to expand into new regions where the firm’s solutions can make an impact and capture a larger share of the analytics market. New channel partnerships with complementary technology firms, independent software vendors (ISVs), consulting firms, value-added resellers (VARs) and systems integrators (SIs) will also be sought out.

With global spending on big data and business analytics (BDA) solutions reaching more than $215 billion in 2021, gaining a foothold in this sector can result in significant revenue for companies.

“This milestone is a testament to the intellect and hard work of our employees across the globe, commitment of our partners, and trust and advocacy of our customers. All elements are in place to speed Pyramid down the path to being the next enterprise analytics leader,” says Omri Kohl, CEO and co-founder of Pyramid Analytics.

As part of the new funding, Kohl is prioritising both customer experience and becoming a strong employer brand. By investing in hiring, rewarding and retaining top tier talent in areas such as customer success marketing and sales, Pyramid Analytics expects to see an improved customer experience that offers leading service and support.

Written by Thu 12 May 2022

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analytics Big Data
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