Visier Inc, a Canadian workplace intelligence solutions provider, has raised more than $60 million (US$45 million) in a Series D financing. A new investor, U.S. venture capital firm Sorenson Capital, led the round and was joined by Foundation Capital, Summit Partners and Adams Street Partners, which also invested in the company’s Series C in 2014. Founded in 2010 by CEO John Schwarz and CTO Ryan Wong, Vancouver-based Visier provides applied big data cloud technology to support organizations as they recruit, retain and develop their workforce. It plans to use the funds raised to meet demand for the platform and grow its global and partner ecosystems.
Applied Business Analytics Leader Visier Closes $45 Million in Financing to Meet Growing Demand for its People Strategy Platform
Round led by Sorenson Capital with existing investors Adams Street Partners, Summit Partners, and Foundation Capital participating
VANCOUVER, British Columbia and SAN JOSE, Calif., March 15, 2017 /CNW/ — Visier, provider of the leading people strategy platform, today announced it has closed $45 million in Series D financing. Sorenson Capital led the round and is joined by existing investors Foundation Capital, Summit Partners, and Adams Street Partners. This 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.
Watch the 2-minute video: reinventing business intelligence.
The new capital will help fuel the company’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 the world’s most widely recognized brands, across a broad range of industries: today more than 100 blue chip enterprises have selected Visier, including many Global 2000 and Fortune 500 leaders.
“Where others are struggling, Visier is thriving,” says John Schwarz, Visier’s CEO and Founder. “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.”
Schwarz continues, “Contrary to prevailing opinion, analytics isn’t about organizing or accessing data. Achieving dramatically improved business results through analytics is about answering the right questions, which then shape the business tactics — this is what drives better business outcomes. Visier was founded to meet this need. And our customers are realizing incredible results.”
Read the blog post and ebook: Goodbye Tools. Hello Solutions.
Since its last round of financing in June 2014, 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
With a focus on disruptive technology companies, new investor 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,” says 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.”
Read Rob Rueckert’s blog post: Applying Domain Expertise to Big Data Analytics
Our curiosity, the desire to understand, is inseparable from what it means to be human. But, in the hype of big data analytics, we’ve forgotten that data does not equal knowledge.
Visier was founded to focus on what matters: answering the right business questions, even the ones a person might not know to ask. Questions that shape business strategy, provide the impetus for taking action, and drive better business results.
Visier is dedicated to transforming business analytics, to providing leaders with clear answers to critical business questions — out-of-the-box, without the hassle and cost of data management, statements of work, and long and risky development projects.
Visier lets companies say goodbye to data quality problems, to complexity, to costly tools, to endless service fees, and to guesswork. A people strategy platform designed by domain experts for leaders, Visier lets leaders say hello to clarity, to confidence, to meaningful answers — and to better business performance. Say hello to Visier. Outsmart, outperform.
For more information, visit http://www.visier.com.
For further information: Julie Galla, visier(at)sparkpr(dot)com, http://www.visiercorp.com
Photo courtesy of Visier Inc