In late 2020, developers Noam Liran and Alex Litvak were inspired to create a platform that applied automation concepts from security to the business analytics space. Drawing on their experiences in cybersecurity — Liran was the chief technology officer at Microsoft’s R&D center in Israel — they created software that lets companies analyze business data to test and adjust their go-to-market strategies.
The software became the first product from Sightfull (no, that’s not a typo), a startup that today closed an $18 million Series A round led by Dell Technologies Capital with participation from Norwest Venture Partners and Tiger Global. The new investment will be put toward product development and expanding the Sightfull team, Liran said, with the goal of growing from 25 employees to 50 within the next year and opening an office in New York City (Sightfull is Tel Aviv-based).
“[Our] platform is targeted at all revenue-related teams — from revenue and sales operations teams to finance and from revenue leaders to the executive team,” Liran told TechCrunch in an email interview. “Sightfull is able to provide all of these stakeholders with answers to all their business questions, insights that uncover hidden growth opportunities and alerts about potential issues regarding their go-to-market strategy.”
Sightfull’s secret sauce, if you will, is what Liran calls a “graph analytics” system that maps and correlates revenue data to try to detect relationships between different key business activities. Powered by the system, Sightfull’s software attempts to proactively identify issues with an impact on revenue — and to pinpoint chokepoints that might be holding revenue back.
“[We aim to bridge] revenue analytics and business intelligence by using automation that enables software-as-a-service (SaaS) companies to leverage the full power of their business data,” Liran added.
Sightfull falls into the category of software startups known as revenue operations and intelligence (RO&I), which has been red-hot lately. Based on data from Venture Scanner, VC funding in RO&I companies jumped from $321 million in 2020 to $952 million in 2021.
Sightfull competes with Funnel IQ, which sells access to a revenue operations platform geared toward business-to-business SaaS companies. ScaleMatters is another rival — it’s differentiated by a client base that’s largely early- and growth-stage.
Liran believes there’s plenty of room for growth, though — particularly as Sightfull invests resources in building out tools for “data storytelling” that don’t require business intelligence expertise. Currently, Sightfull has roughly a dozen SaaS customers, including Wiz and storage hardware startup VAST Data.
“It has become clear over the last few years that unless you pair a business intelligence tool with a strong data and analytics team, you will not be able to uncover business issues and growth opportunities in real time,” Liran said. “There’s a significant gap in the market for providing proactive strategic go-to-market insights that revenue teams can leverage directly, without being dependent on business intelligence systems or data analysts. Our customers have told us that they are desperate to find ways to optimize their revenue stream in real time.”
Sightfull, a startup that tracks key business activities, raises $18M by Kyle Wiggers originally published on TechCrunch
