Open Source Business Intelligence Company Pentaho Lands $23 Million Series C

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Open source business intelligence vendor Pentaho today announced that it has received a $23 million round led by New Enterprise Associates with participation from previous investors Benchmark Capital, Index Ventures and DAG Ventures. This is the company’s 5th round of funding, but it’s being called a series C. This brings the company’s total funding to $55 million.

The company was founded in 2004 and raised a $5 million series A from New Enterprise Associates with participation from Index Ventures. It later raised a $8 million series B from the same two firms in 2006. Venture Beat reported a $12 million 3rd round from Benchmark Capital in 2008, and according to SEC documents Pentaho raised an additional $7 million from undisclosed investors in 2010.

Last year Pentaho released a version of its software that added native support for a wide range of data sources, including all the major Apache Hadoop distributions, NoSQL databases such as MongoDB and Hbase, columnar databases like Greenplum and Netezza and traditional relational databases like Oracle and PostgreSQL. And earlier this year Pentaho open sourced its data integration platform Kettle.

The company competes with other open source BI vendors like Jaspersoft as well as proprietary solutions from companies such as SAP.