Introduction
Today, SSeeq, the world’s first end-to-end cloud-native interactive analytics platform, announced that it has secured a $50 million Series C round of funding led by Insight Partners.
The investment will accelerate SSeeq’s product development and growth initiatives. This infusion of capital brings SSeeq’s total funding to $80 million and the latest round includes new investors Silverton Partners, EQT Ventures, and existing investors Canaan and Fyrfly Venture Partners.
Overview of SSeeq
SSeeq is a leading provider of identity and access management solutions. Founded in 2017 and headquartered in Tel Aviv, Israel, SSeeq has raised $90 million from leading venture investors worldwide to date. The company offers cloud-based identity and access management solutions that enable organizations to securely manage user accounts and identities across different services, products and platforms.
The SSeeq Identity & Access Management Platform makes it easy for users to connect with different cloud applications, with one central access point for businesses of all sizes. With this platform, customers can create secure single sign-on (SSO) platforms that allow users to securely access their accounts from any browser or device with one simple login point. This reduces the costs associated with managing user identities while increasing corporate data security.
Insight Partners led the company’s latest funding round, a global venture capital firm focused on software investments worldwide. SSeeq will use this $50 million Series C round development to expand its reach in the current markets served – North America, Europe and Asia Pacific – while exploring opportunities in new markets such as Latin America, Australia and Japan. Additionally, the funds will contribute towards further product development initiatives to remain competitive within the identity and access management sector.
Overview of Insight Partners
Insight Partners is one of the world’s leading venture capital firms, with over $17 billion in capital. Founded in 1995, the firm seeks to invest in rapidly growing companies across various industries, including technology, software and consumer products.
The company has made over 400 investments in more than 250 companies worldwide. Its portfolio includes companies such as Wix, Xactly Corporation, SendGrid and Kiva Systems.
Insight Partners has offices around the globe and is committed to partnering with next-generation businesses with a vision for disrupting their respective markets and creating lasting value. With its seasoned investment professionals and international presence, Insight Partners catalyzes the growth of top performing organizations worldwide.
Funding Details
SSeeq, an AI-driven data and analytics platform, has announced a $50 million Series C financing led by Insight Partners. This round brings the total investment into the Series C round of funding to over $80 million.
This round of funding will allow the company to expand its operations and invest in developing new products and services. Additionally, the funding will help SSeeq to accelerate its growth, build new capabilities, and bolster its position as a premier enterprise data and analytics platform.
Seeq Announces $50 Million Series C Funding Round Led by Insight Partners
Today, Sseeq announced it had secured $50 million in Series C funding from Insight Partners. This brings the company’s total funding to $80 million since it was founded in 2017.
The investment will accelerate the growth of Sseeq’s suite of AI-powered sales and marketing analytics solutions. The new capital injection will enable Sseeq to further build its product capabilities and expand operations globally. Additionally, funds will enable accelerated recruiting of sales and marketing professionals, and bolster research & development efforts in natural language generation (NLG) and artificial intelligence (AI).
The $50 million investment is part of a larger strategic collaboration between Insight Partners and Sseeq that also includes access to Insight Partner’s extensive network to scale operations globally. This partnership also underscores the demand for Salesforce-native customer success applications that leverage artificial intelligence and machine learning capabilities.
This investment is an important milestone for Sseeq as it continues its mission to become the world’s leading AI-driven sales analytics platform. With this additional capital and strategic partner,Sseeq is well positioned to reach their goal in 2021.
Use of the Investment
SSeeq, an enterprise AI-operated robotic process automation (RPA) provider, has announced the closing of $50 million in new Series C funding. This investment was led by Insight Partners and will be used to further invest in product innovation and research and development and increase hiring activities to meet customer demands globally.
The new Series C funding will fuel growth initiatives for the company. These include expanding R&D investments in AI technology and products such as process mining tools and deep learning algorithms; enhancing their professional services capabilities; investing in marketing efforts; and expanding their global presence with new office locations across EMEA and APAC regions. The investment will also help strengthen SSeeq’s position in enterprise automation-as-a-service (AaaS) solutions.
The new financial commitment from Insight Partners follows SSeeq’s $20 million Series B round from August of 2019, which also included participation from investors including Digital Alpha Ventures and Invus Ventures. This latest funding round brings the total amount raised by the company to $72 million since its inception in 2016. The company currently has operations worldwide, including offices throughout Europe and Asia Pacific along with headquarters in New York City, U.S.,where our team is rapidly growing to deliver on the promise of transforming enterprise process automation.
Terms of the Investment
Under the terms of the agreement, Insight Partners acquired a significant stake in Sseeq, with a current pre-money valuation at $205 million. The strategic partnership will also enable Sseeq to leverage Insight Partners’ extensive resources and global experience across software to further accelerate its development and deliver innovative technology solutions for its customers.
As part of the investment, Rachel Duan, Managing Director at Insight Partners has joined Sseeq’s board of directors alongside representatives from SixThirty Venture Capital, Village Capital Ventures and other strategic investors. In her new role, Rachel will utilize her extensive experience in software investments to help shape future growth strategies alongside Zvika Goldstein, CEO & Co-Founder of Sseeq.
The funding form Insight Partners will allow Sseeq to expedite the launch of several new products and services in 2021 and establish additional partnerships with leading enterprise companies worldwide. This investment from Insight Partners represents their vote of confidence toward our technology and capabilities and serves as a testament for the team’s hard work over this past year. We are thrilled to have Insight on board as we continue our journey towards furthering innovation in AI-driven Knowledge Management with our customers and partners globally.
Benefits of the Investment
The Series C funding from Insight Partners will help accelerate Sseeq’s mission of becoming the leading global voice intelligence platform.
With the new investment, the company can expand its capabilities and develop deeper customer integrations. This will help to drive innovation and strengthen Sseeq’s foothold in the industry.
Let’s look at some of the ways the investment will benefit Sseeq.
Access to Expertise and Resources
The $50 million Series C investment in SSEEQ from Insight Partners provides the company with industry experience, expertise and resources. By joining forces with Insight Partners, SSEEQ can leverage their partner’s extensive portfolio and broad network to expand its reach into the global market and deepen its customer base.
The new funds will open up additional resources for SSEEQ that allows them to tailor their products, meet customer needs quickly and effectively and react faster when compared with competitors. This can translate into savings on cost of development, development time frames, and quick time-to-market execution.
With this injection of fresh capital, SSEEQ is better positioned to capitalize on upcoming opportunities within specific industry verticals by introducing next generation products – more intuitive products, have enhanced performance capabilities and smarter features.
Insight Partners has a history of helping early-stage businesses grow through strategic advice and financial investments thus helping keep their portfolio companies at the forefront in their fields. With this background, they are strongly positioned to bring innovation and best practices towards realizing success for SSEEQ’s business operations in near future scenarios.
Expansion of Product Offerings
The latest round of funding will enable SSeeq to expand its product offerings, extend its reach in the global market and drive innovation for enterprise customers. The investment will also help SSeeq to strengthen its flagship product, WebPerf, and scale new digital operations growth solutions such as Monetization and Automation. In addition, the company plans to use the funding to expand its cloud platform, improve infrastructure capabilities globally, sharpen its digital marketing strategy and explore new channels for customer acquisition.
The company is committed to providing enterprises with comprehensive solutions to reshape their digital capabilities and spark innovation. With this powerful investment from Insight Partners, the company is poised to greatly impact the industry. Investment capital allows SSeeq to make strategic investments in talent management metrics data integration platforms, analytics solutions development search engine optimization tools and visual creation suites—all important foundations for success in transformation. With Insight’s capital support, SSeeq can grow exponentially in terms of advanced technology solutions that redefine customer experiences across enterprises worldwide.
Global Reach
This investment from Insight Partners provides SSeeq with resources to accelerate its international reach, enabling it to provide customized digital services to its customers in the global digital marketplace. In addition, the capital injection fosters confidence in the company and its ability to expand globally, creating opportunities for collaboration and resource sharing between countries in different regions.
Insight Partners has a strong history of helping technology companies worldwide develop, grow and succeed globally. By focusing their investments on SSeeq’s international expansion, they are helping to ensure that the company’s technological services are accessible to customers worldwide. This latest round of funding will be geared towards providing SSeeq with resources needed for rapid expansion outside of North America, allowing them to leverage cutting-edge technology expertise across multiple continents.
Furthermore, this venture capital gives SSeeq access to experienced industry partners who can provide valuable insight into worldwide markets. With a deep well of knowledge and vast global connections, Insight Partners can help uncover new avenues for growth while minimizing risks associated with expanding overseas. Ultimately, this strong partnership reduces costly trial-and-error learning methods while negotiating foreign markets more effectively.
Impact of the Investment
The series C round of funding raised by SSeeq will have far-reaching consequences. $50 Million in funds can be leveraged to enhance the product and increase the customer base. It can also bring in more talent and expand the team.
In addition, strategic investors such as Insight Partners will bring invaluable insights and industry connections. So let’s take a closer look at the potential impact of the investment.
Increased Market Share
SSeeq’s Series C funding round led by Insight Partners follows an impressive $31 million Series B in 2019 and an initial $12 million Series A in 2017. The three rounds of investment previously raised add up to $93 million. SSeeq is a well-backed business, and this new capital influx will help it fuel additional growth.
The additional funds from Series C will be used to invest in research and product development, helping expand the company’s presence further into the enterprise security arena. This can be expected to result in an increased market share for SSeeq, helping them build upon the already impressive customer base, including a growing number of Fortune 500 companies. Furthermore, this influx of capital may allow the company to use its resources more effectively by allowing them to hire top talent and develop new services more quickly than before. It will be interesting to watch how this increased market share impacts their competitive positioning within the industry as they continue to succeed.
Growth in Revenue
The infusion of capital from Insight Partners is expected to be a major boon for SSeeq’s operations. With the additional funds from Insight, SSeeq plans to invest heavily in its sales team, to rapidly grow their presence in multiple markets across the globe. This focus on expanding their customer base should result in a considerable increase in overall revenue over the coming years.
In addition to its emphasis on increasing sales, SSeeq will use the new funding to develop new products and publications that will strengthen its market foothold and make it competitive across further markets and product lines. Furthermore, it intends to invest significantly in developing its customer outreach program, which is intended to cement trust in the company’s brand and position them as an industry leader. These initiatives are expected to drive measurable customer satisfaction while producing growth plots few could have anticipated before this Series C investment round.
Increased Competitiveness
The successful Series C funding round of $50 million from Insight Partners will allow SaaS company Sseeq to expand their product innovation investments and drive their growth initiatives. This strategic investment will enable the company to further invest in customer satisfaction, team expansion and extend its reach into international markets.
The addition of $50 million will allow the company to strategically upgrade their customer fulfillment software and increase its competitiveness in the market. The increased resources enable them to build a more robust customer support team. This team is focused on optimizing customer engagement and providing personalized experiences as customers embrace cloud technologies. Additionally, product enhancements allow customers access to a greater variety of services while empowering them with insights on how our platform could be used to improve functionality.
The additional capital from this round of funding also allows companies like Sseeq to invest in newer technologies like artificial intelligence, robotic process automation and machine learning which provide greater value for our customers. This will help streamline operations while increasing product quality and efficiency that can help sharpen focus on mission-critical tasks, giving us a distinct edge over competitors in the market space. Lastly, these added funds create financial stability which allows companies such as Sseeq to become strong competitors with many digital first firms while also giving them leverage to compete better against big conglomerates with extensive resources available.
Conclusion
In conclusion, SSeeq’s latest funding rounds of $50 million from Insight Partners have secured the company’s footing in the software design and development industry. This influx of capital is highly strategic for SSeeq as it seeks to innovate and introduce new product offerings such as data integration, test automation, AI-powered chatbots, and enterprise architectures that meet ever-evolving customer demands.
In addition to continuing to increase market share and build technical capabilities, the funds will also be used towards partner relationships and expanding the company’s global footprint. With a bright financial future ahead at SSeeq Corporation, the next chapter promises to bring more business growth and innovation.
