Pyramid Analytics, a leading AI-powered business analytics platform, has secured $50 million in funding from BlackRock, the world’s largest asset manager. This investment reflects the rising global demand for AI-driven solutions in a rapidly expanding big data and analytics market, which is projected to grow from $225.3 billion in 2023 to an estimated $665.7 billion by 2033.
Pyramid Analytics offers a robust platform that leverages AI and machine learning to streamline complex data processes for renowned clients such as the FDA, Hallmark, Deloitte, and Volkswagen. Headquartered in Amsterdam, the company operates offices in London, New York City, and Tel Aviv. Despite the significant investment, Pyramid chose not to disclose its current valuation.
The firm’s previous funding round in May 2022, led by H.I.G. Growth Partners, raised $120 million, bringing its total funding at the time to over $200 million. Industry estimates had valued the company close to $1 billion following that round.
According to John Doyle, Managing Director at BlackRock, Pyramid Analytics is uniquely positioned at the convergence of AI and data analytics, two domains experiencing sustained growth due to strong market trends. This new capital infusion is set to bolster Pyramid’s innovation efforts as it continues to redefine data-driven decision-making for enterprises worldwide.
4o