Sigma plans to use the new funding to expand its operations in the U.S. and internationally and invest in AI, specifically integrations with generative AI platforms like OpenAI. The company's product suite includes tools that allow users to analyze data "in-place" in databases containing up to billions of records, build dashboards, reports, workflows, and apps without data leaving its source.
Key takeaways:
- Sigma Computing, co-founded by Jason Frantz and Rob Woollen in 2014, is a platform that provides a spreadsheet-like interface for data visualization and analytics, overlaying data stored in platforms like Snowflake and Google BigQuery.
- The company recently closed a $200 million Series D funding round co-led by Avenir Growth Capital and Spark Capital, raising its valuation to $1.5 billion, a 60% increase from its valuation in 2021.
- Sigma's revenue has grown 100% year-over-year for four straight years, backed by a customer base of around 1,000 companies. The company's success is attributed to its focus on creating data analytics tools with a low barrier to entry.
- With a total of $581 million in venture capital, Sigma plans to expand its operations in the U.S. and internationally, and invest in AI, specifically integrations with generative AI platforms like OpenAI's.