Total amount raised
$58 Million
Latest funding date
11/1/2019
Location
Sigma Computing has successfully raised funding through 7 rounds, with the latest being a Series D involving 8 investors, including Avenir and Spark Capital. The company offers a business intelligence solution that provides live access to cloud data warehouses.
Keep reading to explore the intricacies of Sigma Computing's fundraising journey and the investors backing this innovative platform.
What Is Sigma Computing?
Sigma Computing, based in San Francisco, California, specializes in business intelligence and analytics solutions. The company integrates with cloud data warehouses to provide real-time insights and AI-driven applications.
Founded by a team of industry experts, Sigma Computing employs between 501-1000 people. The platform is designed to be user-friendly, enabling non-technical users to perform complex data analyses using familiar interfaces like spreadsheets.
How Much Funding Has Sigma Computing Raised?
- Series A
- Amount Raised: USD 8,000,000
- Date: April 2014
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and establish a market presence.
- Series B
- Amount Raised: USD 20,000,000
- Date: January 2018
- Lead Investors: Altimeter Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series B
- Amount Raised: USD 30,000,000
- Date: November 2019
- Lead Investors: Altimeter Capital, Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and accelerate growth.
- Convertible Note
- Amount Raised: USD 8,300,000
- Date: April 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for ongoing projects.
- Debt Financing
- Amount Raised: USD 15,000,000
- Date: September 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and short-term financial needs.
- Series C
- Amount Raised: USD 300,000,000
- Date: December 2021
- Lead Investors: D1 Capital Partners, XN
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enter new markets.
- Series D
- Amount Raised: USD 263,999,682
- Date: May 2024
- Lead Investors: Avenir, Spark Capital
- Valuation at Round: 60% higher than Series C
- Motivation Behind the Round: To continue transforming business intelligence through innovations in AI infrastructure and data application development.
Total Amount Raised: USD 645,299,682. Current Valuation: Not publicly disclosed.
Key Investors
- Avenir
- Details: Avenir is a growth equity firm that focuses on investing in high-growth companies. They are known for their strategic support and long-term partnership approach.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Rent the Runway, Glossier, Warby Parker.
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in startups at various stages, from early to growth. They are recognized for backing innovative technology companies.
- Investment Focus Areas: Technology, media, consumer internet.
- Notable Investments: Twitter, Slack, Oculus.
- D1 Capital Partners
- Details: D1 Capital Partners is a global investment firm that invests across public and private markets. They focus on high-growth companies with significant market potential.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: SpaceX, Stripe, Robinhood.
- Altimeter Capital
- Details: Altimeter Capital is a technology-focused investment firm that invests in both public and private markets. They are known for their deep industry expertise and strategic guidance.
- Investment Focus Areas: Technology, cloud computing, enterprise software.
- Notable Investments: Snowflake, Unity Technologies, Plaid.
- Sutter Hill Ventures
- Details: Sutter Hill Ventures is a venture capital firm that invests in early-stage technology companies. They have a long history of backing successful startups.
- Investment Focus Areas: Technology, data analytics, cloud computing.
- Notable Investments: Pure Storage, Sumo Logic, Snowflake.
What's Next for Sigma Computing?
Sigma Computing stands at the cusp of significant growth, driven by its leadership in cloud data analytics and innovative AI tools. The company's focus on expanding product features and enhancing user experiences positions it well to capitalize on the increasing demand for data democratization across industries.
With a 60% increase in valuation from its Series C round, Sigma's future fundraising prospects look promising. The company's ability to attract high-profile investors and its continuous innovation in AI and data applications suggest that further investment rounds are likely to support its ambitious growth plans.
However, Sigma faces challenges such as intense competition from established players like Tableau and Power BI, and the need to maintain rapid innovation. Ensuring seamless integration and user adoption across diverse industries will be crucial for sustaining its market leadership.
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