Startup Hyperoll has received a term sheet for investment by Sequoia, Dolev & Abramovitch Hi-tech Information reports.

Sequoia is leading a $10 million financing round for the Israeli startup, TheMarker has learned, with a $5 million contribution of its own.

The Israeli venture capital fund Pitango is also considering a $5 million investment in Hyperoll, which develops data mining solutions for enterprises.

So far Hyperoll has recruited $2.6 million from Israeli venture capital funds and private investors.

Before October 2000 the startup received a term sheet for $5.5 million investment from EMC, Giza, Denali, Exseed and Microdent, but EMC and Giza ultimately pulled out.

The company employs 25 people at facilities in Omer, southern Israel, and at a branch in Santa Clara, California.