A global slowdown in funding notwithstanding, the business intelligence sector saw a collective $950M invested into the space in 2016 secured in 93 funding rounds, following a record year in 2015 that saw $2B secured in 179 rounds.
With three more months still go for the year, 2016 could also possibly turn out to be another $1B+ funding year for this space, making it the fourth consecutive such year if and when that happens. Average funding ticket size at the early stage witnessed a 33% rise at $1.6M, a positive signal that indicates continued investor faith into this niche space. While the funding ticket size at the Series A level showed a decline, the Series B stage showed a marginal increase at $14.2M
The sector also witnessed notable significant late stage funding with impressive investment ticket sizes, the most recent ones include American Fork-based Domo ($131M), San Francisco–based Anaplan ($90M), Tel Aviv-based Sisense ($50M), Palo Alto-based ThoughtSpot ($50M) and Santa Cruz-based Looker ($48M).
BI verticals (marketing, operation, sales, finance, accounting, HR, advanced analytics), visualization tools, data preparation and suites were the top business models by funding in this space.
Some of the largest upcoming spaces in this sector among others include healthcare R&D, customer success, retail marketing, e-commerce marketing and sales emerged as the largest upcoming sectors in this space. As a broader vertical, marketing accounted for the largest number of companies founded in the business intelligence space till date.
Sequoia Capital, Andreessen Horowitz, NEA, Accel Partners and Battery Ventures were among the active investors in this space.
Tracxn’s Business Intelligence 2016 report covers companies that develop and provide Business Intelligence (BI) & Analytics software. It also covers prominent industry specific BI solutions. It excludes service providers and consultancy companies. Preview the report below.