Pentaho Secures $12 Million Investment from Benchmark Capital
February 21, 2008, Orlando, FL —
Pentaho Corp., the commercial open source alternative for business intelligence, today announced the completion of a $12 million round of financing led by Benchmark Capital. Existing investors Index Ventures and New Enterprise Associates also joined the Series C round.
Pentaho will use the proceeds to fund its continued growth in the business intelligence market, including research and development as well as continued international expansion.
"Pentaho has established itself as the leading commercial open source alternative to proprietary BI," said Peter Fenton, general partner, Benchmark Capital. "As the traditional proprietary BI vendors consolidate, rationalize, and integrate, Pentaho is in a great position to deliver better products in a much more customer-centric commercial open source model." Benchmark Capital has also made a number of investments in other leading open source companies including Red Hat, Zimbra, and MySQL.
"This additional investment will allow Pentaho to accelerate our goal of transforming the BI industry by delivering better products, better service, and better value than the last generation of BI vendors," said Richard Daley, CEO, Pentaho. "We've developed the technology, the community, and the ecosystem, and every day our customers are proving that the BI market is hungry for a better solution delivered via a better business model."
Since its founding in 2004 as the pioneer in commercial open source BI, Pentaho has seen rapid adoption of its commercial open source products across both large and small organizations in both the public and private sector. Pentaho now has more than three million lifetime downloads, with more than 20,000 registered community members. Pentaho's growing customer list includes industry leaders such as Cox Communications, Delta Dental, Lifetime Networks, Monsanto Corporation, Savvion, Sun Microsystems, Terra Industries, U.S. Naval Air Command, and Wachovia.
In October of 2007, Pentaho released a major update to its flagship Pentaho Open BI Suite, adding an enterprise BI metadata layer and ad hoc reporting capabilities to extend its existing capabilities in reporting, OLAP analysis, dashboards, data mining, and data integration.
To download Pentaho products, please visit www.pentaho.com/download/
About Pentaho, a Hitachi Data Systems company
Pentaho, a Hitachi Data Systems company, is a leading data integration and business analytics company with an enterprise-class, open source-based platform for diverse big data deployments. Pentaho’s unified data integration and analytics platform is comprehensive, completely embeddable and delivers governed data to power any analytics in any environment. Pentaho’s mission is to help organizations across multiple industries harness the value from all their data, including big data and IoT, enabling them to find new revenue streams, operate more efficiently, deliver outstanding service and minimize risk. Pentaho has over 15,000 product deployments and 1,500 commercial customers today including ABN-AMRO Clearing, EMC, Landmark Halliburton, Moody's, NASDAQ, RichRelevance, and Staples. For more information visit www.pentaho.com.