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Jaspersoft Closes New Financing

By SiliconIndia   |   Monday, 25 July 2011, 10:31 Hrs
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SAN FRANCISCO July 14, 2011 : Jaspersoft, makers of business intelligence (BI) software, announced the company has received $11 million of new capital financing. The investment was led by existing investors Red Hat and SAP Ventures, in addition to new investor Quest Software, and included participation from all existing major investors: Doll Capital Management, Morgenthaler Ventures, Partech International, Scale Venture Partners, and Adams Street Partners. This builds upon Jaspersoft's record year in 2010 and provides fuel for the company's aggressive product roadmap, global expansion, and potential strategic acquisitions.
To capitalize on this open source BI market opportunity, Quest Software joins the other strategic investors.
"The business intelligence market is growing rapidly and Jaspersoft's position within it continues to strengthen. Our growth has resulted in significant interest from world-class investors and so this became a perfect time for Jaspersoft to take on new, strategic funding," said Brian Gentile, CEO of Jaspersoft.
"We're very glad to be investing in Jaspersoft right now. This is the time for scalable, affordable, self-service BI," said Shayne Higdon, managing director, Corporate Development at Quest Software, Inc. "With the right resources and this management team, we believe Jaspersoft will continue to set the modern BI industry agenda."
Jaspersoft 4 BI Suite has features such as data integration, OLAP analysis, audit logging and cloud deployment capabilities.

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