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Business intelligence co Pyramid Analytics raises $120m

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Israeli business analytics company Pyramid Analytics announced today that it has closed a $120 million Series E financing round, bringing the total amount raised by the company to $211 million. The round was led by H.I.G. Growth Partners, with the participation of Clal Insurance Enterprises Holdings, Kingfisher Capital, and General Oriental Investments and early investors JVP, Maor Investments, Sequoia Capital, and Viola Growth.




The latest funds will be used to further develop the company’s product in the fast-emerging decision intelligence market, which will accelerate data-driven transformation. Pyramid Analytics stresses that there is more data available for analytics than ever before, more people are interested in making decisions with data and more sophisticated analytics are in demand.

The Pyramid Decision Intelligence Platform delivers data-driven insights for faster, more intelligent decisions, by providing instant access to any data, enabling a strategic, organization-wide approach to business intelligence and analytics.

The company was founded 13 years ago by CEO Omri Kohl, CTO Avi Peretz and EVP business development Herbert Ochtman.

Kohl said, “Overwhelming interest from the venture capital community underscores the importance of the problems we help our customers solve and the innovations we introduced to help enterprises in ways BI tools and legacy analytics could not. This milestone is a testament to the intellect and hard work of our employees across the globe, commitment of our partners, and trust and advocacy of our customers. All elements are in place to speed Pyramid down the path to being the next enterprise analytics leader.”

Pyramid Analytics had revenue of $50 million in 2021 and sees revenue of $90 million this year. The company has 250 employees including 80 in its Israel development center. Over the next year, Pyramid Analytics plans hiring 150 morer people including 60 in Israel. Kohl told “Globes,” “In a period when most companies are re-examining their business plans and budgets, we are growing. We will continue to grow and remain an independent company until our IPO.”

The company plans to hold its IPO on Wall Street in 2024. 

Published by Globes, Israel business news – en.globes.co.il – on May 9, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


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UPST, NOVN and BURL among pre market losers

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UPST, NOVN and BURL among pre market losers

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G7 finance leaders reaffirm FX commitment in communique By Reuters

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© Reuters. FILE PHOTO: Attendees pose for a family photo during the G7 Summit in Koenigswinter, near Bonn, Germany May 19, 2022. REUTERS/Benjamin Westhoff

By Leika Kihara and Francesco Canepa

KOENIGSWINTER, Germany (Reuters) – Group of Seven (G7) finance leaders on Friday pledged to closely monitor markets given recent volatility and reaffirmed their commitment on exchange rates, nodding to Japan’s concern over recent sharp declines in the yen.

The G7 advanced economies have an agreement that markets ought to determine currency rates, that the group will closely coordinate on currency moves, and that excessive and disorderly exchange-rate moves would hurt growth.

Japanese policymakers have said the agreement gives Tokyo leeway to jawbone, or even intervene directly in the currency market to counter sharp moves in the yen.

“We will also continue to closely monitor markets given recent volatility. We reaffirm our exchange rate commitments as elaborated in May 2017,” the G7 finance leaders said in a communique issued after a two-day meeting that ended on Friday.

Once welcomed as giving exports a boost, a weak yen has emerged as a source of concern for Japanese policymakers, as it inflates already rising costs of imported fuels and raw materials.

Japanese Finance Minister Shunichi Suzuki told reporters on Thursday Tokyo wanted the G7 to reaffirm its commitment on exchange-rate policy, as the country struggles with the yen’s slide to two-decade lows.

The dollar’s broad ascent has also pushed down the euro, adding inflationary pressure to the region that is feeling the strain from the Ukraine crisis-driven surge in energy costs.

While the yen has bounced back somewhat against the dollar this week as part of the U.S. currency’s broad retreat, many analysts expect prospects of steady interest rate hikes by the Federal Reserve to sustain the dollar’s uptrend.

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Here are Friday’s biggest analyst calls of the day: Amazon, Apple, Salesforce, Costco, Block & more

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