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30 October 2012, 15:26

Pentaho receives $23 million in funding

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Pentaho logo Pentaho has announced that it has received $23 million in Series C funding led by New Enterprise Associates (NEA) in participation with previous investors Benchmark Capital, Index Ventures and DAG Ventures. The business analytics specialist says that it will use the latest funding round to support its continued growth by further expanding its existing development, engineering, services, sales and marketing efforts.

The Florida-based company is best known for its Business Intelligence (BI) suite and analytics software for data access, visualisation, integration, analysis and mining. Pentaho Business Analytics is available both as a GPLv2-licensed open source Community Edition and a commercial Enterprise Edition; the latter includes additional features and plugins.

Quentin Gallivan, chairman and CEO at Pentaho Corporation, said that the Series C investment will allow the company "to keep pace with fast-moving technology innovations, recruit the necessary talent to execute on our big data strategy, and to expand our leadership in big data analytics."

Founded in 2004, Pentaho received $5 million in Series A funding from NEA in partnership with Index Ventures in December 2005. The following year it raised an additional $8 million in Series B funding from the same two firms and, in 2008, it was given $12 million in its third round of funding from Benchmark Capital.

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