On its Journey to Make Cloud Data More Accessible, Sigma Computing Raises $200M in Series D Funding

By Alex Passett, Editor  |  May 20, 2024

Imagine, if you will, being able to work with cloud data seamlessly. For real; no tedious hassles for analytics, no undue complexities that are often associated with old-school business intelligence systems.

Great, right?

That’s why we’re talking about Sigma Computing.

Sigma is a cloud analytics platform that uses a familiar spreadsheet interface to give business users instant access to explore and gather much-needed insights from their cloud data warehouse. This no-code, zero-special-training-required Sigma solution allows users to explore billions of rows, easily augment them with new data, and even perform “what if” analyses on said data in real time.

“We believe analytics are often too complex,” one Sigma representative wrote. “They were born in an era when data sizes were small, when the world changed more slowly, and when it was expected that experts – not business people – would do the analysis. Sigma is built for a new world, and we make the analysis that was previously considered too difficult much, much easier today.”

So, the long-story-short of it? Sigma makes data accessible. Sigma expedites data consolidation processes and equips users with fast, scalable and customizable tools to make intuitive analytics capabilities full-on realities.

And just last week, Sigma announced that it successfully raised a whopping $200 million in Series D funding.

That’s a lot of green for accessibility in cloud data management.

Co-led by Spark Capital and Avenir Growth Capital (with additional investment from new investor NewView Capital, as well as from previous investors like Snowflake Ventures, Sutter Hill Ventures, D1 Ventures and Altimeter Capital), this funding round is the result of Sigma’s forward momentum, record revenue growth, and partner ecosystem expansion.

From Spark Capital General Partner James Kuklinski:

“Spark Capital is proud to partner with Sigma on its journey toward building a market leading data analytics platform. It's been amazing to witness how quickly Sigma becomes pervasive within a company once users get their hands on the tool and are empowered to make faster, smarter, and more data-driven business decisions. Unique features like Sigma’s Input Tables allow teams to effortlessly incorporate deeper context into their analyses by bringing their own data directly into the cloud data warehouse, all without writing any code. That kind of capability spreads like wildfire through enterprises and unlocks a new level of decision-making and collaboration.”

And of course, from Sigma CEO Mike Palmer:

“Sigma is proving that there is deep market demand for driving greater productivity and monetization as a result of the cloud data transition. Just as infrastructure has consolidated on just a few cloud providers, and cloud data with even fewer application providers, Sigma is the winner in the application space, enabling everyone, from the least to the most technical employees, to gain new value from their cloud investment. With the product enhancements we’re rolling out related to AI, Python and data applications, Sigma is defining the next category of data platforms and, as a result, also driving industry-leading growth and adoption from the Fortune 10 to the latest startup.”

Learn more about what Sigma has in store from the official announcement here.

Edited by Greg Tavarez
Get stories like this delivered straight to your inbox. [Free eNews Subscription]