Pyramid Analytics is set to increase its channel partnerships after raising $ 120 million in E-Series funding.

The provider of the solution intelligence platform says the funds will be strategically invested to achieve its goal of becoming “the next leader in enterprise analysis”.

With the funding, Pyramid says it is looking for new channels to partner with independent software vendors (ISVs), consulting firms, value-added distributors (VARs) and system integrators (SI).

It will also allocate funds to develop its business analysis software and improve the customer experience.

Speaking about the funding round, Pyramid CEO Omri Kohl said: “This stage is a testament to the intelligence and hard work of our employees around the world, the commitment of our partners and the trust and advocacy of our customers.

“All the elements are there to accelerate Pyramid on its way to being the next leader in enterprise analysis.”

The funding round was led by HIGGrowth Partners with Clal Insurance Enterprises Holdings, Kingfisher Capital and General Oriental Investments.

Early investors who participated in this new round included JVP, Maor Investments, Sequoia Capital and Viola Growth.

Pyramid will use the funding to expand the company’s geographical presence and capture a larger share of the total addressable market for analysis.

Cole added: “I am pleased and humbled by the trust that some of the world’s best technology investors have shown in Pyramid; technology, company and people.

“The overwhelming interest in the venture capital community underscores the importance of the problems we help our clients solve and the innovations we’ve introduced to help businesses in ways that BI tools and legacy analytics can’t.”

Scott Hillbow, co-head of HIG Growth Partners, added: “HIG is partnering with industry-leading companies to drive transformative change. The pyramid is a model of transformation. The Pyramid Decision Intelligence Platform overcomes analysis and business intelligence (ABI), redefining what is possible when the power of data insights is available to everyone.

HIG is excited to partner with Pyramid in their next phase of growth. Pyramid provides an exceptional return on investment for customers, enabling them to make faster and smarter decisions using advanced analytics and data insights. I am excited to join the board of directors and work with an outstanding leadership team that has brought truly innovative, differentiated technology to the market. ”

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