Sigma Computing, an innovator in cloud business intelligence (BI) and analytics, today announced a capital infusion of $30 million from existing investors, Altimeter Capital and Sutter Hill Ventures. This B2 round will expedite product innovation and help support the company’s rapidly expanding customer base. Previous investment from Series A and B rounds total $28 million. Sigma was recently named to CNBC’s 2019 Upstart 100 List.
“Along with Altimeter, Sutter Hill has doubled down on its investment in Sigma as a vote of confidence in the company’s seasoned leadership team and its unprecedented solution,” said Mike Speiser, Sigma board member and Managing Director, Sutter Hill Ventures. “Sigma is a business accelerator solving real business issues across industries from technology to shipping and fashion. We’re extremely excited to support such a promising catalyst in this explosive market.”
Sigma’s ground-breaking BI solution makes data stored in a company’s cloud data warehouse accessible across the organization. Its familiar spreadsheet-like interface and SQL-optional technology empowers employees outside the data team to ask any question of their data and derive valuable insights. Sigma enables data teams to collaborate closely with business experts, resulting in accelerated time to insight and significant analyst resource savings.
“This financing provides a clear line of sight toward the explosive customer growth we see on the horizon and the continued innovation it will take to get there,” said Rob Woollen, CEO and Co-Founder, Sigma. “Data is worthless without a tool that empowers teams to properly explore it and uncover actionable business intelligence. At Sigma, we’re committed to empowering the curious by making data accessible for everyone at an organization, while keeping a laser focus on the governance, compliance, and security issues that often plague other data products.”
In light of increased pressure to be data driven, companies are rapidly moving their data to the cloud to better leverage massive amounts of ever-evolving data types. Sigma’s growing list of stellar customers includes Volta Charging, Navis, Olivela, and Zumper – all of whom use Sigma for cloud analytics and data exploration to discover real-time insights. Sigma provides a true self-service solution capable of handling today’s data volume and variety – all at a lower total cost of ownership compared to traditional BI tools. The company’s cloud data warehouse partners include Snowflake, Google BigQuery, and Amazon Redshift.