Sigma Is Building A Suite Of Collaborative Data Analytics Tools

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In 2014, Jason Frantz and Rob Woollen co-founded Sigma Computing , a platform that overlays data stored in data platforms such as Snowflake and Google BigQuery with a spreadsheet-like interface for data visualization and analytics. With Sigma, the two former software engineers sought to tackle what they perceived as the intractable data challenges faced by large corporations: unwieldy tooling and difficult-to-manage data stores.

In a 2023 survey from Oracle, the majority of business leaders said that they don't believe their employer's current approach to data and analytics is addressing their needs. Seventy-seven percent said that the dashboards and charts they get aren't germane to decisions they need to make, and 72% admit the sheer volume of data — and their lack of trust in that data — has at times stopped them from making decisions altogether.

⁘After recognizing the huge advances in cloud data infrastructure during the past decade, Jason and Rob identified a gap in the market,⁘ Sigma Computing CEO Mike Palmer told TechCrunch in an interview. ⁘Sigma is building a data workspace for everyone — where teams can analyze data in spreadsheets, build business intelligence in the form of dashboards and reports and create data workflows and applications where data never leaves a company's data warehouse.⁘

According to Palmer, Sigma's revenue has grown 100% year-over-year for four straight years on the back of a ~1,000-company customer base. Those figures have investors pleased. On Thursday, Sigma closed a $200 million Series D funding round co-led by Avenir Growth Capital and Spark Capital that values the company at $1.5 billion, up 60% from its valuation in 2021 (when it raised $300 million).

Palmer believes the key to Sigma's success in the face of stiff competition like Tableau and Microsoft's Power BI has been a continued focus on creating data analytics tools with a low barrier to entry.