Sigma Computing Announces $ 300 Million Series C From Co-Leads D1 Capital Partners and XN, Existing Investors Sutter Hill Ventures and Altimeter Capital, and Snowflake Ventures
SAN FRANCISCO – (COMMERCIAL THREAD) –Sigma Computing, the cloud analytics and business intelligence (BI) innovator, today announced it has raised $ 300 million in Series C funding. D1 Capital Partners and XN co-lead the cycle with investors back Sutter Hill Ventures and Altimeter capital, and an investment of Snowflake adventures. To date, Sigma Computing has raised $ 381.3 million to enable business and technical users to analyze data securely and at scale with the simplicity of a spreadsheet interface.
Sigma Computing is changing the future of work by accelerating the speed at which decisions are made. It reinvented the Business Intelligence category by allowing business users to explore live data and collaboratively create models and dashboards. While expanding access to data across the enterprise, Sigma improves both performance and security with its unique architecture, which exclusively stores data in cloud warehouses like Snowflake. By putting billions of lines of live data directly into the hands of marketers, analysts, product managers and other members of the cross-functional business team, real-time decisions can be made about business processes. critics in supply chain, customer engagement, budgeting and more. Its easy-to-use collaboration features further empower the business by ensuring that those decisions involve all the necessary organizations. Sigma customers find answers to ad hoc questions in seconds, iterate and interact on analytics, share stories in one unified place, and make data-driven decisions in moments, not weeks.
The company is one of the first to be specially designed for Snowflake and is an Elite Partner of Snowflake. Customers such as US Foods, Blackstone, Athenahealth and others have set up its platform “Exercise booksâTo respond quickly to customers, approve transactions, increase supply chain efficiency and more.
âSigma has enabled us to understand what is possible as we unleash the true potential of our data,â said Chuck Sample, vice president of analytics and data science at US Foods. âAs a leading foodservice distributor, in partnership with approximately 300,000 restaurants and foodservice operators, being able to quickly manage our customer service levels is essential to meeting our obligations to our customers. With Sigma, we have been able to dramatically reduce the time it takes to gather information on the fly while allowing business and BI teams to operate at a higher level. ”
âThe delta between a company’s performance and its potential is the speed and precision of the decisions it makes within its organization,â said Mike Palmer, CEO of Sigma Computing. âWe’re erasing that delta for competitive businesses that want to equip their departments – operations, finance, marketing and beyond – with the data they need to make decisions quickly and without frustrating delays or dependencies. ”
Sigma was founded in 2014 to meet the needs of analysts who work with spreadsheets and want to work with data in Snowflake, removing the technical hurdles of developing SQL visualization tools to run specific big data queries. Today, Sigma provides a unified collaborative canvas that combines spreadsheets, charts, and stories, keeping all data projects in sync in a single, stand-alone platform for easy collaboration across an organization. Sigma’s tools allow users to explore data anywhere on a dashboard and calculate any demand against billions of rows of live data with no coding required. The company’s highly responsive user experience also allows cross-functional teams to directly perform ad hoc analysis to get the most granular insights in milliseconds instead of hours. With Sigma, users can find immediate answers to their data questions without going through their BI team, and can integrate workbooks to easily share with authorized users.
âWe founded Sigma with the promise of removing the fast and expensive bottleneck of working in code to actually operate large data warehouses for business intelligence,â said CTO and co-founder of Sigma Computing Rob Woollen. âOvercoming these technical challenges with accessible, code-free workbooks has delivered on that promise, facilitating processes for large organizations and enabling decision makers to pull insights directly in real time while making this technology accessible and scalable for everyone. ”
âSigma enables organizations to be truly data-driven by putting the power of data analysis in the cloud directly into the hands of business users. We are delighted to partner with Sigma on the creation of the next generation business intelligence platform, âsaid Dan Sundheim, Founder and Chief Investment Officer of D1 Capital Partners.
âSigma solved a very difficult technical problem by creating the first cloud-native data analysis platform available to any business user. Customers are excited about Sigma’s ease of use, scalability and productivity gains by enabling data-driven decision making across all departments, âsaid XN founder Gaurav Kapadia. âWe are excited to help lead this cycle of investment and support Sigma as they rapidly evolve and democratize data analytics for organizations of all sizes. ”
âJust as Snowflake changed the data warehouse, Sigma will also change the business intelligence. With Sigma, we have completely redesigned BI for the cloud data warehouse. Sigma’s product is extraordinary, and so is the team that built it. If you can use a spreadsheet, now you can use a cloud data warehouse like a pro, âsaid Mike Speiser, Managing Director of Sutter Hill Ventures.
âWe believe Sigma has made a name for itself with a differentiated solution that is proving invaluable to the business community,â said Kevin Wang, partner of Altimeter Capital. âWe are proud to invest in their latest cycle and excited to see where their continued growth will take them and the organizations that are leveraging their incredible technology. ”
âSnowflake Ventures’ investment in Sigma will continue to make it easy for our customers to engage with Snowflake. This means that analysts are up and running in minutes, collaborating and analyzing data quickly, âsaid Stefan Williams, Business Development Manager, Snowflake Ventures. âAs one of the first companies to be purpose built on Snowflake, Sigma is set to take full advantage of Data Cloud and its unique network effect. Together, we pursue our mission of making every organization data-driven. ”
Sigma is the only cloud analytics and business intelligence solution that empowers sales teams to break dashboard boundaries, explore live data independently, and make better decisions faster. The award-winning platform capitalizes on the power of cloud data warehouses to combine data sources and instantly analyze billions of rows of data through an intuitive spreadsheet interface for data analysis – no coding required. Sigma automates workflows and balances data access with unmatched data governance to make self-service data mining accessible and secure for everyone for the first time. https://www.sigmacomputing.com.