Visier, Inc., a Vancouver based provider of applied business analytics platform, has raised US $45 million (all figures in US dollars) in Series D funding led by new investor Sorenson Capital and joined by existing investors Foundation Capital, Summit Partners, and Adams Street Partners.
In May 2014, Visier closed a $25.5 million Series C led by Adams Street Partners with participation of Foundation Capital, Summit Partners.
The Series D round brings Visier’s total funding to $94.5 million.
Visier is credited with the innovation of applied business analytics – the next generation of business intelligence that finally delivers on the promise of data-driven decision making by answering business leaders’ questions in real time, from the cloud, with no dependency on technical resources.
The new capital will help fuel Visier’s efforts to meet the ever growing demand for its people strategy platform, as well as to grow its international and partner ecosystems. Visier’s customers include many Global 2000 and Fortune 500 leaders.
“Where others are struggling, Visier is thriving,” said John Schwarz, founder and CEO of Visier. “We are experiencing a tidal wave of demand because, instead of focusing on data tools and data scientists, Visier has focused on business leaders and on their important and ever changing and probing questions.”
Since closing of the Series C, Visier has: tripled the number of its enterprise customers; achieved a “best in class” net promoter score of 58 and annual renewal revenue rate over 100 percent; grown its annual recurring revenue by over 525 percent
Sorenson Capital brings to Visier its expertise in helping successful companies accelerate their growth to achieve a lasting market value.
“Visier’s product-centered culture and market position are perfectly aligned with Sorenson Capital’s principled thesis of supporting leaders in transformative industries,” said Rob Rueckert, Managing Director at Sorenson Capital, who joins Visier’s Board of Directors. “Like very few others, Visier has mastered the combination of profound domain expertise with cutting-edge analytics capabilities in the hands of business users.”
photo credit: Visier