Harry Weller, NEA: Pentaho Secures $23M C Round

October 31, 2012

Pentaho has raised a $23 million C round led by New Enterprise Associates (NEA), with participation from additional existing investors Benchmark Capital, Index Ventures and DAG Ventures. Pentaho will use the funds to expand its development, engineering, services, sales and marketing efforts needed to support its continued growth and leadership in big data analytics.

“Pentaho Business Analytics, with its tightly-coupled data integration, business analytics and big data capabilities in one easy-to-use and cost-effective platform, has become the go-to solution for companies embarking on big data programs,” said Quentin Gallivan, chairman and CEO at Pentaho Corporation. “Pentaho has a proven big data strategy with over 300 percent increase in big data sales for the first nine months of 2012 over the same period in 2011. This Series C investment allows Pentaho 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.”

As the first major BI vendor to introduce its big data capabilities in May 2010, Pentaho has led the charge in big data analytics. This first-mover advantage enabled Pentaho to engage with big data customers early and to continually rollout technology updates that keep its users ahead of the big data curve. Today Pentaho:

• Provides a comprehensive platform – from big data ingestion, preparation and integration, to interactive visualization, analysis and prediction – helping organizations harvest meaningful patterns buried in their big data stores;
• Reduces the time to design, develop and deploy big data analytics solutions by as much as 15x offering the fastest path to big data value;
• Was singled out as the sole “Strong Performer” in the Forrester Wave: Enterprise Hadoop Solutions Q1 2012 report;
• Offers unmatched native support for the most popular big data sources including Hadoop, NoSQL and analytic databases; and
• Is part of a robust partner ecosystem that includes technology leaders such as Cisco, Cloudera, DataStax, Dell, EMC Greenplum, HP Vertica, MapR, Netezza, 10gen/MongoDB, and Teradata.

“Pentaho has carved out a massive opportunity as an analytics and intelligence layer for a wave of web-scale, open-source data solutions,” said Harry Weller, general partner at NEA. “With a robust platform that complements technology offerings across the big data stack, Pentaho is helping its customers realize the true potential of big data.”

NEA, one of the world’s largest venture capital firms, is among the most active investors in enterprise software and systems. The firm has been at the leading edge of industry transformations like Software as a Service (SaaS), virtualization, cloud computing, and now big data.