October 31, 2012 – Open source business intelligence software provider Pentaho announced it has secured a new $23 million C round of funding led by New Enterprise Associates.
The company says it will use the funding to expand development, engineering, sales, service and marketing to support growth in areas including “big data” analytics.
Chairman and CEO Quentin Gallivan said in a release that the investment allows Pentaho to keep up with technology innovations and recruit talent for emergent areas like big data, which deals with large and/or complex streams of information generated on the Internet and through location devices and sensors.
Pentaho’s products support open source big data frameworks including Apache Hadoop and MongoDB and commercial analytic databases from Greenplum and Vertica. The company gained “strong performer” status in Forrester Research Enterprise Hadoop report this year. Ovum ranked Pentaho a “follower” in this year’s Decision Matrix report.
Customers include Telephonica, Lufthansa and Mozilla.
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