• 20 Oct 2015

    Pyramid Analytics Continues Strong Growth; Announces $30 Million Growth Equity Funding Round led by Viola PE

    Funding Round Led by Viola Private Equity with Additional Investment by Sequoia Capital

    SEATTLE, WA – October 15, 2015 – Pyramid Analytics, the next-generation business intelligence (BI) platform for the enterprise, today announced that it has completed an equity round of funding totaling $30 million, led by Viola Private Equity, and including a second-time investment from Sequoia Capital. The round will be used to expand Pyramid Analytics’ workforce, deepen strategic alliances with partners, advance its channel ecosystem efforts, and enhance market penetration in key segments.

    The second financing series comes as Pyramid Analytics is growing at an impressive rate, cementing the company’s position as a key player in the expanding BI space. Its customer base has tripled every year for the past three years. Pyramid Analytics reached over 350,000 users earlier in the year, and that number continues to grow. Organizations using the company’s BI Office platform to analyze, monitor and report data include large government agencies like the U.S. Department of Veterans Affairs and many Fortune 500 enterprises including Siemens, EMC, HP and others.

    “The continued investment in Pyramid Analytics further validates that we are filling a large gap in the BI market by offering governed data discovery for larger enterprise BI deployments,” said Omri Kohl, co-founder and CEO, Pyramid Analytics. “This funding allows us to expand and take advantage of growing momentum and interest in our platform. Proven customer confidence, credibility among analysts and our high user growth-rate demonstrate that organizations view Pyramid Analytics as the enterprise-ready BI solution of choice.”

    The company is taking advantage of a growing demand for scaling data discovery across the enterprise by delivering a self-service BI that harmonizes the diverse needs of business users, analysts, IT professionals, BI departments and the C-suite. Companies are recognizing the need of end users to make data-driven decisions with the agility required to produce tangible business gains without undermining the organizational framework.

    Pyramid Analytics’ platform provides a robust governed data discovery platform that is compelling for all users. Its Cloud based BI Platform architecture  enables self-service data analysis and visualization for end-users, allowing them to quickly share insights throughout the enterprise, while preserving data governance and security scaling and performance.

    “Pyramid Analytics’ solution introduces real innovation to a wide and continuously growing market, led by a global management team with impressive BI experience.  Leading analysts consider the company a groundbreaker in enterprise BI and it works with over numerous Top Fortune 1000 companies,” said Harel Beit On, general partner and founder, Viola Private Equity. “We are pleased to join forces with the company and Sequoia Venture Capital, and to take part in transforming it into a leader within its respective market.”

    The announcement continues a banner year for Pyramid Analytics. In July the company announced a strategic collaboration with Microsoft that extended a long-term partnership that has successfully delivered analytics solutions to their joint customers. Reports from key analysts issued during the past year, including Gartner, BARC and Dresner, have consistently shown rapid advancement for Pyramid Analytics in customer satisfaction, technical capability and competitive positioning.

    About Pyramid Analytics

    Pyramid Analytics gives professionals what they need to analyze, monitor, and report data, so they gain prompt and undisputed insight about their business. Hundreds of thousands of users, in large public and private enterprises, rely on Pyramid Analytics to make and communicate sound decisions, convincingly.

    The company’s flagship suite, BI Office, is a turnkey, enterprise analytics platform, with fast-performing integrated functionality, that makes it easy to self-serve and share trusted BI content. BI Office enables rapid connectivity of new data sources, on-the-fly data preparation, and interactive visualizations, through an intuitive and familiar interface.

    Pyramid Analytics combines the simplicity and agility that business and IT users want, with the enterprise-class security and governance that organizations need. Pyramid Analytics’ clients successfully expand the reach of BI value and scale user adoption via governed collaboration and sharing of dashboards, reports, and advanced analytics – across departmental and company boundaries, to all types of user, on any device.

    Pyramid Analytics’ talented teams are based in operational centers across the U.S. and EMEA. To learn more, visit PyramidAnalytics.com and follow us on Twitter at @PyramidAnalytic and follow us on LinkedIn.

  • 27 Aug 2015

    Viola Private Equity Invests up to $28.4 million in Itamar Medical

    The investment will reinforce Itamar Medical’s financial strength and will be used to accelerate growth; Viola Private Equity General Partners, Jonathan Kolber and Sami Totah will join Itamar Medical’s Board of Directors

     CAESAREA, Israel, August 27, 2015 – Itamar Medical Ltd. (TASE:ITMR) and Viola Private Equity today announced a private investment in public equity (PIPE) deal, in which Viola Private Equity will invest up to $28.4 million in Itamar Medical.
    Through this deal, Viola Private Equity will become the largest shareholder of Itamar Medical and will work closely with the company's management to accelerate growth and market expansion.

    According to the investment agreement, Itamar Medical will issue shares to Viola Private Equity at the price of NIS 1.449 per share for consideration of $24.1 million. In addition, Itamar Medical will issue to Viola Private Equity, for no additional consideration, non-tradable warrants for the acquisition of up to 50% of issued shares for an exercise price of NIS 1.642 to NIS 1.745 per share.  

    In parallel, Itamar Medical announced that it will initiate a rights offering to existing shareholders to invest an additional $5.9 million under the same conditions of Viola Private Equity’s investment. Viola Private Equity committed to increase its investment by up to $4.3 million, in case of unexercised rights, reaching a total investment of up to $28.4 million.

    Following that, Itamar Medical reports that the Company has received from its major shareholders - Medtronic, Dr. Giora Yaron and Martin Gerstel - a notification regarding their intent to convert their existing $1.6 million shareholders loan to equity by participating in the rights offering, bringing the total investment in the Company to $30 million.

    Viola Private Equity and the major shareholders agreed that all of their shares in the company will be locked-up for a period of 18 months.

    As part of the investment, Jonathan Kolber, General Partner at Viola Private Equity and formerly the  CEO of Koor Industries Ltd., as well as Sami Totah, General Partner at Viola Private Equity and formerly the COO of Amdocs, are expected to join Itamar Medical’s Board of Directors.

    Viola Private Equity is a growth and buyout fund focused on growth-stage companies, private and public, with global presence. In April, Viola Private Equity announced successful fundraising of $250 million for its second fund. The investment in Itamar Medical is its third investment out of this fund, following investments in GlassesUSA.com and VATBox. Viola Private Equity in managed by four General Partners: Harel Beit-On, Jonathan Kolber, Sami Totah and Ayal Shiran. The fund manages over $410 million and among its recent exits are Mobile Access, Amiad Water Systems, Matomy and Orad. Viola Private Equity is a controlling shareholder of Degania Medical. Viola Private Equity is a member of the Viola Group, Israel’s premier technology-focused Private Equity group with over $2 billion under management. Viola Group recently announced a successful sale of Lumenis, a leading medical device company, to XIO Group for $510 million.

    Itamar Medical develops, manufactures and markets non-invasive medical devices based on a unique technology for the diagnosis of cardiovascular diseases and sleep apnea. The company has signed several global strategic agreements, including those with Medtronic, Inc. in the US, Viable Medical Investment Co. Ltd. in China, Philips Respironics GK, and Nihon Kohden in Japan.

    “The investment in Itamar Medical is an excellent example of Viola Private Equity’s investment strategy – a growth stage tech company, with a run rate of approximately $20 million in annual revenue, which is at a turning point in launching a new strategy,” said Jonathan Kolber, General Partner at Viola Private Equity. “The company has an outstanding management team that was recently recruited and benefits from the support of the founding investors. Our large investment is intended to further enhance Itamar Medical’s growth, its global expansion and product development. Viola Private Equity brings extensive operating experience in growth investments and we strongly believe in the outstanding potential of Itamar Medical.”

    “We praise Viola Private Equity on this investment. The fund examined the company’s activities in depth over the past months and its decision to invest in Itamar Medical is a vote of confidence in the technology as well as the growth potential in our main markets,” said Dr. Giora Yaron, Co-Chairman of Itamar Medical. “We are confident that the managerial experience and knowledge that Viola Private Equity brings will be most beneficial for Itamar Medical’s management and for the company’s continuous success, as well as the strengthening of its financial position and competitive advantage.”

    “We are pleased to include such a professional and leading fund such as Viola Private Equity as the largest shareholder among our existing, strong shareholders,” said Gilad Glick, CEO of Itamar Medical. “It was extremely important for us to enable our existing shareholders, who have believed in us and who have invested in our company over the years, to take part in this important investment round and hence we have reached an agreement with the fund that enables issuing rights in parallel. An investment of $30 million will enhance the execution of Itamar Medical’s growth strategy and the leveraging of the many financial opportunities we are identifying in the market. This investment, as well as Viola’s commitment to the company’s success, will help position Itamar Medical as a leading player in the cardiovascular diagnosis market. The current investment will strengthen Itamar Medical’s financial position and will enable accelerated growth.”

  • 10 Aug 2015

    VATBox.com Closes $24 Million Growth Round Led By Viola Private Equity

    Automated VAT recovery & governance solutions empower Global 2000 to  maximize VAT returns, ensure compliance and governance

    Tel-Aviv –  August 10, 2015 - VATBox, the leading cloud-based provider of automated VAT recovery and governance solutions, announced the closing of $24 million in a new financing round led by Viola Private Equity with participation of existing private investors. The funding will further fuel VATBox's aggressive growth plans and accelerate its expansion in the massive and growing market of VAT recovery and governance.

    VATBox was founded in 2013 by CEO Isaac Saft and President Noam Guzman. Leveraging their extensive experience in the enterprise software market, together with Comverse former SVP of Global Operations Yoram Hordan (COO) and a team of 60 employees, VATBox has become a significant player in the field of VAT recovery and compliance. The company has hundreds of multinational clients including global brand leaders and the Fortune 500.

    VATBox aims to replace current, ad-hoc manual VAT recovery processes, with an innovative, fully automated, data driven solution that maximizes returns and provides visibility and compliance across all global entities.  VATBox’s disruptive technology ensures that any cross border or unstructured VAT paid by the client will be captured, qualified, evaluated and recovered automatically.

    VATBox operates in many countries worldwide and is currently focused on expanding its presence in existing and new markets.

    Sami Totah, General Partner at Viola Private Equity, said: “VATBox's fully automated solution offers more money back and the required governance to clients, solving a long term pain around the complexity of dealing with VAT. The company’s track record with Fortune 500 clients provides significant market validation. We are excited to join forces with VATBox’s excellent team in building the category leader in the VAT recovery market."

    Isaac Saft, CEO of VATBox, added: “Indirect tax is a massive and significant expense for every global company. For decades, the VAT recovery market was controlled by manual service providers that offered inefficient, risky, non-visible and limited services, thereby forcing companies to leave billions of euros of VAT on the table, and leaving themselves open to significant risk. In today’s complex indirect tax environment, executives expect to control, forecast and optimize financial processes with technology.  Surprisingly, VAT recovery processes had not evolved since its initiation, and true governance was unheard of.  As the first and only tech player in this market, weprovide fully secure and easy-to-use solutions that maximize VAT recovery, while adding an essential compliance and governance layer that had not been available before. We are very excited to partner with Viola Private Equity as we continue to disrupt this accelerating market.”

    About VATBox

    VATBox is a global B2B SaaS company that provides automated VAT recovery and governance solutions to large, multinational companies. The company was founded in 2013 by CEO Isaac Saft and President Noam Guzman. VATBox provides innovative, fully automated, data driven solutions that maximize VAT returns and provide visibility and compliance across all global entities.

    For more information: www.vatbox.com or follow us on twitter @VATBox.

    About Viola Private Equity

    Founded in 2008, Viola Private Equity provides an opportunity for growth stage companies to raise the capital they need to develop and expand. Viola Private Equity, with over $400 million under management, focuses on value creation in its portfolio companies and utilizes its strong management team to accelerate the growth of these companies. By providing direct capital investment, combined with strong leadership support, it propels portfolio companies forward, turning recognized companies into global technology leaders.  The Viola Private Equity team has vast experience in working with management teams to build organic and non-organic growth plans, scale operations, strengthen management teams and aim to create business partnerships with global leaders. 

    Viola Private Equity is a member of the Viola Group, Israel’s premier technology-focused Private Equity group with over $2B under management. For more information visit: www.violape.com

    Media Contacts


    Meira Primes

    CMO, VATBox


    +972.58.459.6769 | +1.617.459.6769

    Viola Private Equity

    Hila Shitrit Nissim

    VP Marketing, Viola Group





    Our People


    Viola Private Equity is an Israeli-based technology growth capital and buyout fund, focusing on investing in global companies at expansion phase.

    Founded in 2008, Viola Private Equity provides an opportunity for growth stage companies to raise the capital they need to develop and expand. Viola Private Equity focuses on value creation in its portfolio companies and utilizes its strong management team to accelerate the growth of these companies. By providing direct capital investment, combined with strong leadership support, it propels portfolio companies forward, turning recognized companies into global technology leaders. The Viola Private Equity team has vast experience in working with management teams to build organic and non-organic growth plans, scale operations, strengthen management teams and aim to create business partnerships with global leaders. Our team searches for established companies that have strong product differentiation, a potential for leadership, a technological advantage and top-tier management teams. Viola Private Equity provides substantial equity commitment along with strong leadership to accompany its implementation. The general partners of the fund have led exits both through public offerings on NASDAQ and through significant M&A transactions in the US and Europe. Members of our team are proactively involved in each of our portfolio companies. We have guided many companies to global financial success. We work with our companies to formulate strategy in order to achieve superior returns. Above all, we believe in a culture of transparency, integrity and hard work, both within our fund and within our portfolio companies.



    • 2015 (13)
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    • 2013 (6)
    • 2012 (1)
    • 2011 (3)
    • 2010 (4)
    • 2009 (2)

    Latest News

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        Quarterly Gross and Operating Margins Improve Sequentially; Management Reiterates Full-Year Revenue Guidance
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      • Zend announces the availability of Zend Framework 2 Certification

        Zend announces the availability of Zend Framework 2 Certification

         Zend, the PHP Company, has announced the immediate availability of the Zend Framework 2 Certified Architect certification. Zend Framework is the leading open source PHP application framework, utilized in hundreds of thousands of applications globally, and one of the world's most successful projects, providing re-usable code and best practices that developers can use to create modern, high-performing web applications.
        Featuring over 10,000 certified software professionals worldwide, Zend Certifications have become the acknowledged industry standard enabling developers, and software development organizations, to demonstrate mastery of their PHP skills. Zend Certifications are built to American National Standards Institute (ANSI) standards.

        The Zend Framework 2 Certified Architect exam was developed by an expert advisory board led by Zend Framework’s Project Lead, Matthew Weier O'Phinney, and a team of Zend Framework 2 contributors, developer community leaders and engineers with practical experience building real-world applications.
        “We have heard from many developers that studying for, and obtaining, a Zend certification helps developers improve their skills through the process of exam preparation.” said Debbie Otterstetter, Senior manager of Global Training and Certification at Zend, “Taking and studying for these certification exams can really help a developer get a wide understanding of the full range of PHP's & Zend Framework capabilities.”
        Zend has introduced two new certification exams in the last six months, Zend Certified PHP Engineer and Zend Framework Certified Architect. “PHP, driven by its large developer community and vast ecosystem, has become the platform of choice for developing the backend of web and mobile applications, as well as many business critical enterprise apps “said Ido Benmoshe, VP of Global Services at Zend, “Many developers and development managers realize the importance of keeping current with their technical certifications, best practices and modern development techniques”.
        Reservations for the Zend Framework 2 Certified Architect exams are available at the PearsonVUE testing centers starting on March 6th.

        In order to aid developers enhance and master their PHP and Zend Framework skills, Zend has created a complete curriculum of classes expediting the learning process. All classes are designed and taught by professional, experienced PHP developers who understand how to equip you with the knowledge and tools to architect and develop professional PHP and Zend Framework applications. You can find the complete set of classes at: http://www.zend.com/training

        Attend the Webinar: Accelerate Your Career with Zend Certifications
        Wednesday April 9th, 8:30am PDT


      • RRSAT Reports Record Revenues of $32.5 Million For the fourth quarter 2013 ; up 10.5% year-over-year

        Record Full-Year Revenues of $121.8 Million, Up 7.4% from Year-Ago Period;
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        NTV+, Russia's digital satellite broadcaster, has chosen Orad to cover the 2014 Sochi Winter Olympic Games. NTV+, the host broadcasters for the Sochi Olympics who have domestic broadcasting rights for the entire event, will be using multiple Orad graphic solutions to facilitate and simplify their production workflow.

      • Zend Announces Enhanced Long-Term Support Policy for PHP

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      • RRsat Wins a Tender to Broadcast Duna TV, Hungarian Public TV Channel and Radio, to Americas and Australia

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      • RRsat posts $1.1M net income in Q3 2013


        Nov 13, 2013 (Menafn - M2 EQUITYBITES via COMTEX) --RRsat Global Communications Network Ltd RRST, a provider of comprehensive digital content management and global content distribution services to the broadcasting industry, on Tuesday reported GAAP net income of USD1.1m, or USD0.06 per diluted share, for the third quarter of 2013, ended 30 September 2013.

      • Viola Private Equity Acquires control of Gaon Holdings

        Viola invested NIS 70 million and became the Company’s largest shareholder (57%).

        Within the framework of the deal, Viola also received options which, when realized, will bring Viola’s holdings in the Company to 68.5%. The realization of the options will inject additional cash into the Company in the future.

      • The Viola Group Acquires 20% of the Israeli company RRsat for $28 Million

      • Corning Incorporated to Acquire MobileAccess

        Corning Incorporated to Acquire MobileAccess Acquisition to extend wireless technology platform within Corning’s telecommunications segment
      • Viola Private Equity Invests $7 million in Zend Technologies

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      • Viola Private Equity invests $17 million to acquire 21% of Matomy Media Group (previously Adsmarket)

        Adsmarket, an established internet advertising company, is the third largest company in Europe in this field and employs around 140 people, mainly in Israel. The Company, founded in 2007, recorded sales of $80M in 2010, compared to $7M in 2007.




    • #01

      Fund Size:

      Viola Private Equity I – $164M
    • #02

      Stage of companies:

      Expansion phase
    • #03

      Areas of investment:

      New media, Software, Communications, Cleatech/Agritech, Med-Tech and Technology-Enabled Services
    • #04

      Selection Criteria:


      Scalable management team
      Existing business model with a path to profitability

    • #05

      What else we look for:

      Israeli related companies
      Operating in global markets
      Place for value add


    Viola Private Equity
    12 Abba Eban Avenue
    Ackerstein Towers Bldg. D
    Herzeliya 47625 Israel
    Tel: +972-9-9720500
    Fax: +972-9-9720515
    Email: info@violape.com



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