SAN FRANCISCO, Aug. 9 /PRNewswire/ - JasperSoft, the market leader in open source business intelligence (BI), announced today that it has closed $12 million in its fourth round of funding. Scale Venture Partners led the round and was joined by new investor SAP Ventures. Existing investors DCM, Morganthaler Ventures and Partech International also participated in the round. JasperSoft also announced that Rory O'Driscoll, a Managing Director with ScaleVP, joined the board.
SAN FRANCISCO, Aug. 9 /PRNewswire/ – JasperSoft, the market leader in open source business intelligence (BI), announced today that it has closed $12 million in its fourth round of funding. Scale Venture Partners led the round and was joined by new investor SAP Ventures. Existing investors DCM, Morganthaler Ventures and Partech International also participated in the round. JasperSoft also announced that Rory O'Driscoll, a Managing Director with ScaleVP, joined the board.
"We are delighted that Scale Venture Partners and SAP Ventures share our vision for open source business intelligence and decided to lead this round of expansion financing," said Paul Doscher, CEO of JasperSoft. "Building on our strong base of more than 6,000 customers, we will use this financing to expand our distribution channels and international reach, as well as invest in growing our open source community and extend the range and capabilities of our product suite."
JasperSoft closed this round of funding following the shipment of the JasperSoft Business Intelligence Suite 2.0. This new end-to-end BI suite builds on the company's strong open source base and offers business customers commercial licenses, advanced support levels, indemnification, advanced features, with an expanded set of supported application server, database, and operating system platforms. This new suite includes products which provide extended functionality to more users with interactive reporting, data analysis, and data integration.
"Embracing the open source model has allowed JasperSoft to leverage the world's largest open source BI community to build a large customer base quickly," said Rory O'Driscoll. "In the six quarters since they introduced the professional editions of their open source product suite, they have increased their customer base to more than 6,000 organizations around the world. Existing pure-players in the business intelligence market will be threatened by companies such as JasperSoft, who can offer the same functionality at a fraction of the price."
"JasperSoft has demonstrated that it can make BI available and affordable to enterprise customers by leveraging open source," said Jai Das, Partner at SAP Ventures. "We believe the company is poised to deliver its innovative solutions to a much broader range of businesses worldwide."
In the past two quarters JasperSoft has achieved an impressive range of milestones including:
— The Introduction of JasperSoft Business Intelligence Suite 2.0. In May Jaspersoft introduced a major upgrade to its product suite, with significant new functional capabilities, language and platform support. To celebrate the launch of JBIS 2.0 JasperSoft also introduced a new Unlimited Use subscription offer, which gives organizations the ability to deploy JBIS 2.0 on an unlimited basis for a $35K annual subscription. — OEM Deals with MySQL and Ingres. JasperSoft has emerged as the business intelligence standard in the open source database market, signing OEM deals with MySQL and Ingres to extend the value of these. two market-leading database providers. — Red Hat Exchange Reseller Agreement. In May JasperSoft announced that it had been selected as a launch partner for RedHat's innovative new reseller program, the RedHat Exchange. JasperSoft introduced JasperServer For RHX and JasperAnalysis For RHX, specially packaged versions of its products that have been certified and configured for sale through the Exchange. — Leadership in CRM Analytics. This quarter JasperSoft extended its lead in business intelligence for open-source and on-demand CRM by introducing Jasper4SugarCRM, a high-performance reporting and analysis BI solution optimized for use with the SugarCRM Sugar Suite. This announcement came on the heels of JasperSoft's success with Jasper4Salesforce, the #1 ranked analytics solution on the Salesforce.com AppExchange. — JasperReports Wins Duke's Award at JavaOne. JasperSoft was named a prestigious Duke's Choice Award winner by Sun Microsystems. The Duke's Choice Awards celebrates the best and most innovative technology-based applications and services in the business from among all the cool projects in the world of Java technology. — JasperSoft Passes 6,000 Customers Milestone. In less than two years since its launch as a commercial organization, JasperSoft has exceeded 6,000 customers for its open source business intelligence products and services in over 81 countries.
About Scale Venture Partners
Scale Venture Partners employs a thesis-based strategy to identify innovative development-stage technology and healthcare investments. The Scale team helps technology and healthcare companies accelerate their growth and become more valuable to entrepreneurs, investors and consumers. Based in Foster City, California, the Scale team collectively offers decades of technology and venture industry experience to development-stage companies in hardware, software, healthcare and medical devices. Representative portfolio companies include Alimera, Frontbridge, Glu Mobile, Good Technology, Monolithic Power Systems, Omniture, Orexigen, Placeware, Scansafe, Seattle Genetics, Somaxon, Wayport and Xceive. For more information, please visit http://www.scalevp.com.
About SAP Ventures
SAP Ventures helps build industry-leading companies by partnering with outstanding entrepreneurs and top-tier venture capital firms. As the corporate venture capital arm of SAP AG, we operate under two independent but synergistic imperatives. First, we act autonomously in discovering and pursuing opportunities for outstanding financial returns that may be independent of or central to SAP's corporate strategic focus. Second, we bring substantial benefit to both our portfolio companies and SAP by facilitating interaction between innovative young companies and the SAP ecosystem.
JasperSoft is the market leader in open source business intelligence (BI). With more than two million downloads worldwide and more than 6,000 commercial customers in 81 countries, JasperSoft offers the most widely used open source business intelligence software in the world. The JasperSoft Business Intelligence Suite is comprised of an interactive reporting server, graphical and ad hoc report design interfaces, OLAP analysis, an ETL data integration engine, and a Java reporting library for scalable small, medium, and large enterprises, for use as either stand-alone or embedded business intelligence applications. JasperSoft is based in San Francisco and is backed by leading venture capital firms Morgenthaler Ventures, DCM, Partech International, Scale Venture Partners and SAP Ventures. More information is available at http://www.jaspersoft.com and http://www.jasperforge.org.
Media Contacts: For JasperSoft: Craig Oda PageOne PR firstname.lastname@example.org 650.543.4702 For ScaleVP: Carol Sacks Tenor Communications email@example.com 650.520.8261