Israel

Two Israeli Startups, Sisense and MeMed, Announce Multi-Million Dollar Investments

Two Israeli companies have made a big splash in the fundraising world this month.

On September 12, Sisense closed an $80 million investment led by New-York based Insight Venture Partners. On September 21, MeMed Diagnostics completed a $70 million funding round.

Sisense makes a business intelligence hybrid-cloud solution covering everything from data preparation and mashup to discovery of insights that can be embedded and consumed on the web and mobile, in dedicated apps and products, via voice or chat, using natural human language or IoT devices.

Sisense has a New York headquarters, and Ramat Gan (near Tel Aviv), Kiev, Tokyo, Arizona and London offices. Current major investors include Battery Ventures, Bessemer Venture Partners, DFJ Venture Capital, Genesis Partners and Opus Capital. Clients include such companies as GE, Nasdaq, Philips, Oppenheimer, TIAA, Rolls Royce, Air Canada, Accenture and Mazda.

“This round will allow us to accelerate our aggressive hiring, increase our global footprint, boost our cloud offering, and make additional investments in our Machine Learning and Artificial Intelligence (AI) labs that are the core of our In-Chip™ technology and analytics platform agility,” said Amir Orad, CEO of Sisense.

MeMed Diagnostics’ new round of financing comes from new and existing investors including Ping An Global Voyager Fund, Foxconn, Caesarea Medical Holdings, Clal Insurance, Phoenix Insurance, OurCrowd, Social Capital, WTI, Horizons Ventures, and “high-net-worth executives” who were not named.

The proceeds are earmarked to advance market adoption and further clinical validation of MeMed BV, a breakthrough immune-system-based test for distinguishing between bacterial and viral infections; to complete development, upscale manufacturing and clearance of MeMed Key, a point-of-care protein measurement platform; and to expand MeMed’s pipeline of innovative tests that integrate machine learning and immune-based measurements to tackle big clinical challenges.

“When measured on MeMed Key and on other platforms, MeMed BV has the potential to serve as a valuable tool in the fight against resistant bacteria – one of the biggest healthcare challenges of our time,” said Dr. Eran Eden, MeMed’s co-founder and CEO. The company is based in Tirat Carmel, near Haifa.

“The additional funds, and the significant support we are receiving from the U.S. government and EU Commission, solidify MeMed as a global leader in the space of host-based diagnostics of infectious and inflammatory disorders.”

(via Israel21c)

[Photo: Israel21c ]