Investment Round to Fuel Next Phase of Growth for Commercial Open Source BI Leader
Orlando, FL – Feb 21, 2008 – 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 Corporation
Pentaho Corporation is the commercial open source alternative for Business Intelligence (BI). Pentaho Open BI Suite provides comprehensive reporting, OLAP analysis, dashboards, data integration, data mining and a BI platform that have made it the world's leading and most widely deployed open source BI suite. Pentaho's commercial open source business model eliminates software license fees, providing support, services, and product enhancements via an annual subscription. In the years since Pentaho's inception as the pioneer in commercial open source BI, Pentaho's products have been downloaded more than three million times, with production deployments at companies ranging from small organizations to The Global 2000. For more information, visit www.pentaho.com.
GMK Communications for Benchmark Capital
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