Jaspersoft Raises $11m in Equity Financing
Jaspersoft, a San Francisco, CA-based provider of business intelligence (BI) software, has received $11m in equity financing.
The round was led by existing investors Red Hat and SAP Ventures, in addition to new backer Quest Software, with participation from existing shareholders Doll Capital Management, Morgenthaler Ventures, Partech International, Scale Venture Partners, and Adams Street Partners.
The company intends to use the capital to accelerate its product roadmap, global expansion, and potential strategic acquisitions.
Led by CEO Brian Gentile, Jaspersoft leverages a commercial open source business model to provide a BI suite that includes includes pixel-perfect enterprise reporting, ad hoc query, dashboards, OLAP and in-memory analysis, and data integration. It is advanced regularly by a development community of more than 225,000 registered members (http://www.jasperforge.org).
According to a written statement, Jaspersoft’s open source business intelligence software has nearly 14 million product downloads worldwide, more than 175,000 production deployments and 14,000 commercial customers in 100 countries.