Periscope Data & Sisense — better together and the single most powerful business intelligence
By Josh Stein
On behalf of the team at Threshold Ventures/DFJ, I am excited to congratulate Harry, Tom, and the team at Periscope Data — who today announced that they are merging with Sisense, a combination that will create the most complete and powerful platform for business intelligence (BI).
We first met Harry and Tom in early 2015, thanks to an introduction from Bubba Murarka. A series of conversations and meetings followed, until later that year when we proudly led Periscope Data’s Series A financing. I joined the board as the first outside director.
Over the last three and a half years, it has been amazing to see the speed and crispness with which the Periscope Data team executed against their vision. The most obviously visible example would be growing its revenues by ~20x — but I think even more impressive was building an incredibly strong culture, one of the strongest I’ve seen as an investor, and one that was consistently called out both internally and externally for its clear values and focus on diversity and inclusion.
Periscope Data competes in the BI market, a huge category that provides the backbone for strategic decision-making at companies of all shapes and sizes. Modern BI customers have a large and demanding set of requirements — they need to process and analyze billions of data points quickly, turn those analyses into actionable insights, and create powerful visualizations that facilitate the consumption and utilization of those insights across organizations. To fully meet all of those customer requirements, a BI platform needs to be both massively powerful on the back-end and also extremely user-friendly and intuitive on the front-end so nontechnical users can consume the insights.
Periscope Data’s roots have always been on sheer back-end power. Its focus has been on enabling data scientists, highly technical and trained professionals who want to “type SQL and get charts” with maximum performance and speed. But increasingly, those customers wanted help to better package their work and analyses in ways that would be both intuitive and easy to understand for their less technical, line-of-business colleagues.
Enter Sisense — one of the most respected names in the BI market, with a rich history of working with the largest enterprise customers and especially known for its powerful and flexible front-end platform. Just as Periscope Data’s customers were pushing them for better front-end support, likewise Sisense’s customers were asking them for faster, more powerful, and cloud-native back- end technology.
Fresh off an $80 million financing late last year, Sisense and Periscope Data began a conversation, and both companies quickly realized that they had complementary strengths and that together, they would make the single most powerful, flexible, and user-centric platform available in the market. Classic 1 +1 = 3.
As an ongoing shareholder in the newly combined company, we couldn’t be more proud of the Periscope Data team’s accomplishments, and we are excited about where the combined management teams will take the business in the coming years.
Congratulations Harry and Tom!