Sigma Computing seals $80M funding round as it pivots toward ‘agentic analytics’
Cloud-native data analytics startup Sigma Computing Inc. has closed on an $80 million Series E funding round that doubles its valuation to $3 billion, almost a year to the day after its previous Series D raise.
Today’s round was led by Princeville Capital and saw participation from new investors Databricks Ventures, ServiceNow Ventures and Workday Ventures. Existing backers Altimeter Capital, Avenir Growth Capital, D1 Capital Partners, Spark Capital and Sutter Hill Ventures also returned for a piece of the action.
Sigma’s valuation jump makes sense, for the company has managed to double its revenue over the last year. In April, it reported annual recurring revenue had reached $200 million, up from about $100 million one year earlier. It now has more than 2,000 customers and 1.1 million new active users than the previous year, with clients including Advanced Micro Devices Inc., Duolingo Inc. and JPMorgan Chase.
The startup sells a data analytics platform that sits above cloud data warehouses such as Snowflake, Databricks and Google BigQuery. It’s used by businesses to query and analyze live data through a spreadsheet-style user interface that eliminates the need for Structured Query Language expertise. It supports spreadsheet operations, SQL, Python and what Sigma calls “AI Apps” that all run against the data warehouse’s compute layer instead of copying data onto a separate system. Information technology teams retain full governance and security over their data
