Talend, a global provider of open source data solutions, this morning announced it has raised another $8 million in Series D financing. Their previous funding round was closed in January 2009, when the company raised $12 million.
Existing investors Balderton Capital, AGF Private Equity and Galileo Partners all chipped in again, bringing Talend’s total of funding secured to date to $28 million.
Talend says its flagship open source data solutions have been downloaded more than seven million times to date, and that 2009 was a killer year for the company. The company claims its paying customer base grew 140% to well over 1,000 customers in 2009.
The company says it will use the new funding to further develop and extend its range of open source data integration, data quality and master data management (MDM) solutions.
The three investors (all European, by the way) clearly believe strongly in the company’s ability to disrupt the market, which has historically been dominated by a handful of vendors adopting a traditional proprietary model. Talend chooses to take an open approach by publishing the code of its core and base modules under a GPL license, offering the developer community the ability to improve the product and make enhancements that can benefit everyone.
Balderton Capital, for one, knows the potential of such open source models well, as it played an instrumental role in growing MySQL’s business (the open-source database company was sold to Sun Microsystems for $1 billion in January 2008).
Talend is a provider of open source data integration software. Market analysts agree that data integration tools represent a $13 billion market (with the ETL sub-segment valued at $2 billion and operational integration at $11 billion) — and that the market is growing at double-digit rates, year after year. Since the emergence of data integration tools in the 1990s, the market has been dominated by a small — and quickly consolidating — number of traditional vendors offering proprietary, closed solutions, which...