Netezza Corp. will use $20 million in new venture capital funding to bring its prototype business intelligence platform to market. The company’s investors include Battery Ventures, Matrix Partners and Charles River Ventures. Netezza says that it has a created a platform that transforms slow and expensive business intelligence activities into agile information. The company also says the platform can run faster ad hoc and complex tera-scale queries.

"For decades, companies have been deploying generic servers, storage and databases to hold growing amounts of information and handle large volumes of transactions," says Jit Saxena, co-founder and CEO of Netezza. “This infrastructure wasn't designed for the timely analysis of terabytes of data.”

The new capital supplements $8 million in resources the company has already secured to bring its product to market. Netezza is based in Framingham, Massachusetts. Saxena is the former CEO of Applix, a customer relationship management analytics company. Netezza Corp. will use $20 million in new venture capital funding to bring its prototype business intelligence platform to market.

The company’s investors include Battery Ventures, Matrix Partners and Charles River Ventures. Netezza says that it has a created a platform that transforms slow and expensive business intelligence activities into agile information. The company also says the platform can run faster ad hoc and complex tera-scale queries. "For decades, companies have been deploying generic servers, storage and databases to hold growing amounts of information and handle large volumes of transactions," says Jit Saxena, co-founder and CEO of Netezza. “This infrastructure wasn't designed for the timely analysis of terabytes of data.” The new capital supplements $8 million in resources the company has already secured to bring its product to market. Netezza is based in Framingham, Massachusetts. Saxena is the former CEO of Applix, a customer relationship management analytics company.

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