Sisense CEO Amir Orad

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Less than a year after replacing its CEO, Sisense Inc. has raised $50 million for technology that speeds and simplifies the analysis of large, complex data sets so that businesses can make faster decisions, adding hundreds of customers last year, the company said.

The Series D round was led by Bessemer Venture Partners, and it follows the appointment of a new chief executive, Amir Orad, who joined Sisense in February.

“We wouldn’t have invested if not for this CEO,” said Bessemer Partner Bob Goodman, who joins the board. “It would be like getting a good steak with no salt.”

Sisense’s technology takes advantage of the chips in users’ devices to analyze data rapidly and with less preparation than some other business intelligence tools, the company says. Sisense’s founder, Eldad Farkash, remains the chief technology officer. The previous CEO, Amit Bendov, left last year to work on a startup.

But Mr. Orad, who co-founded a cybersecurity company, Cyota Inc., that Bessemer invested in and was later an entrepreneur-in-residence at Bessemer, has brought in new executives, including Chief Financial Officer Todd Sloan, who’s worked at public companies. Mr. Orad also tied employee bonuses to customer satisfaction, which he made a top corporate priority.

The volume of data at all organizations is exploding, he said, and small and medium-size businesses “don’t have access to specialized IT departments and expensive machines.”

Although Sisense has as many as two dozen competitors, including Tableau SoftwareInc.DATA +4.78%, Qlik Technologies Inc.QLIK +5.05% and Birst Inc., he said he believes Sisense offers something unique. Act-On Software Inc., for instance, uses it to help salespeople and corporate executives track and predict sales.

The new money will be invested in sales and marketing and tech research. Mr. Orad said he has no plans to raise more money and hopes to take Sisense public. He said revenue is in the “tens of millions” and has been more than doubling every year.

Current investors also participated in the round, including Battery Ventures, Draper Fisher Jurvetson, Genesis Partners and Opus Capital, taking total funding in Sisense to about $98 million.

Write to Deborah Gage at deborah.gage@wsj.com. Follow her on Twitter at @deborahgage