Decision intelligence startup Sisu Data Inc. is feeling a lot richer today after closing on a $62 million round of funding that brings its total amount raised to more than $128 million.

Green Bay Ventures led the Series C round, which also saw participation from existing investors a16z and NEA, plus new investor Geodesic Capital. The round came as Sisu announced a major product update, adding new Explorations and Dashboards features that it says will help its customers to accelerate the process of data-informed decision making.

Decisions is what Sisu Data is all about. The company’s mission is to operationalize the world’s data so that businesses can make the best possible decisions based on the information they have.

As Sisu Data founder and Chief Executive Peter Bailis explained, most businesses today have massive amounts of complex data. What they lack is the time, people and tools to analyze it properly.

“That’s the massive problem Sisu is working to solve,” he said.

Sisu Data has built a real-time Decision Intelligence Engine that aims to help decision makers analyze their cloud data to understand not just what’s happening in their business, but why it’s happening, so they can choose how to respond.

In an interview with TechCrunch, Bailis explained that while traditional business intelligence platforms can inform users about what’s going on with a business, they are “not ultimately actionable.” Sisu Data, on the other hand, relies on machine learning technology to dig into a company’s data to understand why something – such as a decline in revenue – has happened and provide clues as to what the company should do about it.

“Sisu is creating a new way for organizations to not only analyze their data, but actually use it to make the best decisions in improving the operations, profitability and success of their business,” said Anthony Schiller, co-managing director of Green Bay Ventures.

With the launch of Explorations and Dashboards, Sisu Data moves a bit closer to its goal of “closing the decision gap,” which it defines as the space between data that’s collected, stored and organized but never used and the data that actually helps business leaders to make decisions.

With Explorations, users will be able to dig into their data and visualize various types of metrics without any coding required. As for Dashboards, it helps users to view data explorations, track metrics changes and share key data drivers with their colleagues and executives. By integrating these tools with Sisu Data’s existing capabilities, users will be able to see what has happened in their business and why it has happened, and know what they can do about it, the company explained.

Sisu Data’s platform was popular even before these major new capabilities were added. Over the past year, the company has tripled its revenue and doubled its headcount while enjoying strong customer traction, though the company didn’t provide specific numbers. Its highest-profile customers include MasterCard International Inc., Samsung Electronics Co. Ltd., Upwork Global Inc. and Wayfair LLC.

Sisu Data intends to use its funds to continue growing its teams and its product suite.

Image: Sisu Data