VC fundraising for BI & analytics software companies
BI and analytics VC has rotated as the modern data stack consolidated and AI-native analytics emerged as a fresh theme. The investor set splits between infrastructure-focused funds that understand consumption economics and application-software funds that read these businesses on seat retention - the framing has to match the partner.
Investors here are data-infrastructure-focused seed and growth funds, application-software generalists with deep BI coverage, and corporate venture arms attached to the cloud and data majors - Salesforce Ventures, Snowflake Ventures and similar arms are active in the category. Flow has direct relationships across the data-infrastructure funds, application-software generalists and the cloud and data CVCs that back BI and analytics.
Flow has experience running VC fundraising processes for BI and analytics companies across self-service BI, embedded analytics, data science and notebook platforms, augmented analytics and AI-assisted insight tools, and vertical analytics applications. Our extensive investor network spans early-stage seed funds, growth-stage investors, and strategic and corporate VC arms.
"BI & analytics software" KPIs VC investors look at
The metrics venture investors benchmark before pricing a round - in diligence, at the IC table, on the term sheet.
Seat ARR
Consumption revenue
Net retention
Active users
Queries / compute units
ARPU
Gross margin
Logo retention
CAC payback
Edition mix
BI & analytics software valuations in May 2026
Public BI & analytics software comps trade at 3.4x EV/Revenue. Median revenue multiple across BI & analytics software VC rounds was 20x in the last 12 months.
3.4x
Median EV/Revenue as of May 2026 for public BI & analytics software companies
72x
Palantir is the highest valued public BI & analytics software company based on EV/Revenue (excluding outliers)
4.5x
Median EV/Revenue across BI & analytics software M&A deals in the last 12 months
20x
Median EV/Revenue across BI & analytics software VC rounds in the last 12 months
Key recent BI & analytics software VC rounds
$400M Series D raised by ClickHouse was the largest BI & analytics software VC round completed in the last six months.
See all BI & analytics software VC rounds| Logo | HQ | Description | Investors | |||||
|---|---|---|---|---|---|---|---|---|
Jan-26 | ClickHouse |  | ClickHouse is an open-source columnar database management system optimized for real-time analytical queries on large datasets. Developed initially at Yandex and released in 2016, the Moscow-headquartered project now serves global enterprises including eBay, Lyft, and CERN for data warehousing and observability. It supports SQL syntax with sub-second query performance on petabyte-scale data via vectorized execution and data compression. ClickHouse integrates with Kafka, S3, and Grafana, powering applications in fintech, gaming, and telecommunications. | Bessemer Venture PartnersDragoneer+6 | $400M | $15B | Series D | |
Mar-26 | Grafana Labs | | Grafana Labs is a New York- and Oslo-headquartered provider of the open-source Grafana platform for observability and visualization. The firm offers the LGTM stack featuring Grafana Mimir for metrics, Loki for logs, and Tempo for traces, available via Grafana Cloud or self-hosted Enterprise editions. Notable clients include Bloomberg, Citigroup, Dell Technologies, Salesforce, and TomTom. | - | $250M | $6.0B | Series E | |
Mar-26 | 9fin |  | 9fin is a London-based data and analytics provider for credit markets, serving finance, investment banking, and asset management professionals. The platform delivers tools for financial data analysis, risk assessment, market screening, and team collaboration on bond issuance, loans, and leveraged finance deals. | CPP InvestmentsHarbourVest Partners+4 | $170M | $1.3B | Series C | |
Apr-26 | Wingify |  | - | Amit ManochaKedar Mankekar+4 | $149M | - | Undisclosed stage | |
Apr-26 | Black Lake Technologies |  | Black Lake Technologies is a Shenzhen-based provider of manufacturing collaboration platforms using mobile, IoT, and web technologies. Its solutions capture real-time data from factory floors for visualization, monitoring, and analysis, enabling decisions from executives to line workers. Clients include Fortune 500 manufacturers in electronics and automotive sectors across China. | - | $146M | - | Series D | |
Apr-26 | Xoople |  | Xoople is an earth intelligence company that leverages satellite imagery and AI to monitor physical changes on Earth's surface. Its platform delivers actionable insights for industries including agriculture, forestry, and urban planning. Headquartered in Europe, Xoople serves clients seeking systematic analysis of environmental shifts through high-resolution data processing. | Buenavista Equity PartnersCentre for the Development of Industrial Technology (CDTI)+3 | $130M | - | Series B | |
Mar-26 | ScaleOps | | ScaleOps is an automation platform for Kubernetes clusters that adjusts CPU and memory allocations in real-time based on application metrics. It integrates with Prometheus and Datadog to predict demand spikes and scale pods across AWS EKS, Google GKE, and Azure AKS. The Tel Aviv-based service cuts cloud bills by 40 to 70 percent through vertical autoscaling and idle resource reclamation. ScaleOps ensures high availability by preventing over-provisioning during traffic surges in production workloads. | Glilot Capital PartnersJerry Murdock+3 | $130M | $800M | Series C | |
Apr-26 | Omni | | Omni is a data collaboration and analytics platform where teams explore, model, and share business data within one environment. Users connect Omni to data warehouses for defining metrics, building queries, and creating dashboards with minimal engineering needs. Shared interfaces support collaborative workflows and consistent data definitions, while governance tools and access controls oversee usage. Integrations with existing systems aid reporting, analysis, and organizational decision-making. | First Round CapitalGV+3 | $120M | $1.5B | Series C | |
Jan-26 | osapiens |  | osapiens is a provider of ESG compliance software through its AI-powered osapiens HUB platform. The SaaS solutions enable companies to assess risks, report under CSRD, EUDR, and CSDDD frameworks, and integrate sustainability across supply chains using cloud-based automation. | ArmiraDecarbonization Partners+1 | $100M | $1.0B | Series C | |
Feb-26 | Profound | | Profound is a San Francisco-headquartered analytics platform designed for brands to enhance visibility in AI-generated search results from tools like ChatGPT and Perplexity. It analyzes brand mentions across large language models, delivering metrics on citation frequency and sentiment scores. Sales teams use its dashboard to identify content gaps and optimize SEO strategies for AI environments. Founded in 2023, Profound serves enterprise clients in tech and consumer goods sectors, integrating with Google Analytics and CRM systems for automated recommendations. | Evantic CapitalKleiner Perkins+4 | $96M | $1.0B | Series C | |
May-26 | Sigma Computing | | - | Altimeter CapitalAvenir+10 | $80M | $3.0B | Series E | |
Mar-26 | Nominal | | Nominal is an Austin-based data infrastructure platform for hardware engineering teams. Its Core software ingests multi-modal test data, offers visualization dashboards, and automates validation workflows. The Connect product supports edge analytics and hardware-in-the-loop testing for sectors including aerospace, defense, automotive, and energy. | AvenirFounders Fund+7 | $80M | $1.0B | Series B | |
Feb-26 | Braintrust | | Braintrust is an AI evaluation and data management platform that supports prompt testing, dataset versioning, and performance tracking. It features a Prompt Playground for comparing models and inputs, plus CI/CD integrations for deployments. Datasets evolve with production captures stored in cloud repositories. San Francisco-headquartered Braintrust handles experiments across OpenAI, Anthropic, and custom models for enterprise teams. | Andreessen Horowitzbasecase capital+3 | $80M | $800M | Series B | |
Apr-26 | SenseTime Group | | SenseTime Group Inc is a software company focused on creating an AI-empowered future through innovation. The company develops software & hardware products for different industry verticals and use cases based on the same AI infrastructure platform & model training framework. The principal activities of the Group are the sale of AI software, the sale of AI software platforms & related services, the sale of AI software-embedded hardware and related services, AIDC service as well as research and development activities with AI technology. The Company is domiciled in the Cayman Islands while the Group mainly operates its businesses in four geographical areas of the world Mainland China, Northeast Asia, Southeast Asia, and others, out of which the majority is from Mainland China. | Bridge Capital ChinaFar East Horizon+8 | $73M | - | Series A | |
Jan-26 | Listen Labs | | Listen Labs is a San Francisco-based AI platform for qualitative research, conducting automated customer interviews and synthesizing insights from audio, video, and text data. Founded in 2023, it processes conversations in 20 languages, extracting themes, sentiments, and personas for product teams at companies like Airbnb and Stripe. The tool replaces traditional focus groups with scalable analysis dashboards and verbatim search capabilities. | ConvictionEvantic Capital+3 | $69M | $500M | Series B |
VC investors active in BI & analytics software
Y Combinator is the most active VC investor across BI & analytics software, having invested in 87 startups in the last three years.
See all BI & analytics software VCs| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
Y Combinator | | Y Combinator is a San Francisco-headquartered startup accelerator that funds and mentors early-stage technology companies across sectors like software, biotechnology, and fintech. Since its inception in 2005, it has propelled alumni including Airbnb, Dropbox, and Stripe through intensive three-month programs featuring Demo Days and investor networks. | AxisMenzaSpade+2 | 87 | Pre-seed | |
Techstars | | Techstars is a Boulder-headquartered global network founded in 2006 that operates over 50 accelerators annually across 15 countries. It invests $120,000 in exchange for 6 percent equity in 500 startups yearly, spanning AI, sustainability, and healthcare. The firm manages a venture fund deploying capital into alumni companies and runs corporate partnerships with brands like Amazon and Barclays for innovation pilots. Techstars portfolio exceeds 3,500 companies valued over $15 billion collectively. | JP TechnetMooj-techBciTechSys+2 | 51 | Pre-seed | |
Antler |  | Antler is a Singapore-headquartered global venture capital firm founded in 2017 that invests in early-stage tech companies. It operates day-zero programs in 27 cities, backing 1,000+ startups with $100 million deployed annually across AI, fintech, and sustainability. Portfolio includes unicorns like Hold One and Tiqets, with a network of 3,000 mentors and 700+ investors for follow-ons. | OrianePascal AI LabsAmplytic+2 | 49 | Pre-seed | |
Alumni Ventures | | Alumni Ventures is a Manchester, New Hampshire-headquartered venture capital firm managing diversified portfolios for 10,000 accredited investors. Operations run 50 funds targeting seed through Series B stages in AI, biotech, and climate tech. Sourcing draws from 1,000 university alumni networks with co-investments alongside Sequoia and a16z across 1,400 portfolio firms. | PatlyticsQuadSciObserve+2 | 24 | Seed | |
Right Side Capital Management | | Right Side Capital Management is a quantitative pre-VC investment firm targeting capital-efficient tech startups. Operating from the US, it focuses on seed rounds under $500K in sectors like SaaS and fintech. Since 2012, the firm has built diversified portfolios using data-driven processes. Managing directors, experienced founders from the 1990s tech era, provide operational support structured like a startup funding others. | ChukAIReturnsIQPonderosa+2 | 18 | Pre-seed | |
Insight Partners | | Insight Partners is a New York-headquartered global venture capital and private equity firm specializing in software investments. The firm targets high-growth companies in enterprise software, SaaS, fintech, cybersecurity, and healthcare IT sectors. It provides capital, operational support, and talent placement to portfolio companies spanning seed through late-stage growth. Notable investments include DocuSign, Shopify, and Recorded Future. With offices across North America, Europe, Israel, and Asia, Insight Partners manages a diverse portfolio exceeding 800 companies. Founded in 1995, the firm emphasizes scaling businesses through dedicated teams for go-to-market strategies and mergers. | Fiddler AILitmus AutomationFiligran+2 | 17 | Series B | |
Sequoia Capital | | Sequoia Capital is a venture capital firm headquartered in Menlo Park, California, with operations in the United States, China, India, and Southeast Asia. Founded in 1972, it invests in seed through growth-stage companies across sectors like consumer internet, enterprise software, healthcare, and semiconductors. The firm has backed transformative businesses including Apple, Google, WhatsApp, Airbnb, Stripe, NVIDIA, and DoorDash, achieving landmark returns from initial public offerings and acquisitions. Sequoia Capital maintains separate funds for U.S., China, and India ecosystems, supporting founders in building enduring technology leaders. | ProfoundListen LabsInfiniteWatch+2 | 16 | Series B | |
Lightspeed Venture Partners | | Lightspeed Venture Partners is a Menlo Park-headquartered venture capital firm investing in seed through growth stages across enterprise software, consumer tech, and fintech sectors. The firm has funded companies like Snapchat, MuleSoft acquired by Salesforce for 6.5 billion dollars, and Rubrik. Lightspeed Venture Partners manages over 18 billion dollars across global funds, with offices in Silicon Valley, New York, Israel, and India. Its enterprise portfolio features ThoughtSpot and Thoughtworks. | ProfoundFiddler AIClickHouse+2 | 14 | Series A | |
Bpifrance |  | Bpifrance is a Paris-headquartered public investment bank owned by the French state and Caisse des Dépôts that finances SMEs, mid-caps, and innovation projects. It offers loans, equity, guarantees, and export financing through funds like Large Venture and InnoBio, operating via 50 regional offices across France. | OmniscientDifflyClaimy+2 | 14 | Seed | |
Andreessen Horowitz | | Andreessen Horowitz is a Menlo Park-headquartered venture capital firm founded in 2009 that targets seed through late-stage investments in software infrastructure, consumer internet, enterprise applications, fintech, cryptocurrency, and biohealthcare. The firm has backed Airbnb, Coinbase, GitHub, Lyft, and Stripe, maintaining offices in San Francisco and Santa Clara. | SpadeBraintrustSequence+2 | 13 | Series A |
Founders and investors we've worked with
We've supported winning builders across BI & analytics software and beyond.
Ziik
We acted as fundraising advisor to Ziik, a Copenhagen-based all-in-one social intranet and internal communication SaaS platform, on its growth funding round.
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Sentryc
We led the capital raising process for Sentryc, a Berlin-based AI-driven brand protection and IP software provider, on its growth round led by Seventure Partners.
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Picus Security
We advised PE firm Turkven on its $24m Series B investment into Picus Security, an Istanbul-based breach and attack simulation (BAS) cybersecurity platform.
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sevDesk
We advised New York-based crossover investor Arena Holdings on its €50m growth investment into sevDesk, a leading German cloud-native accounting platform for SMEs and freelancers.
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Orka
We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.
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