Birst, the global leader in Cloud Business Intelligence (BI) and Analytics, announced this morning that they have received $65-million in Series F funding from five investors which will help drive the company’s growth and future success. The company, founded in 2005 in San Francisco has now raised a total of $156 million and has established itself as a leader in the Cloud BI environment. Birst plans to use their new round of funding to strengthen its international presence, drive marketing and sales, and invest in enhanced product features, which will be felt directly by their customers.
Doug Leone, partner at Sequoia Capital, and one of Birst’s investors notes: “The BI market is going through a major transition as the legacy suppliers continue to decline. The race for next-generation leadership in BI and analytics is going to be won by the supplier that offers world-class technology, great business leadership, and a proven capability to focus on today’s needs versus those from a decade ago. Birst is the clear leader among the new companies trying to disrupt and own this huge BI market.”
This news comes on the heels of Looker’s big $30-million dollar funding round that broke in the news last week, as those who innovate in the BI space seem to be doing quite well for themselves.
Along with Birst and Looker, several other BI and Analytics companies received notable funding rounds during the last calender year:
- Platfora: Received $38M in Series C funding on March 19, 2014, bringing their total funds raised to $65.2M
- Sisense: Received $30M in Series C funding on June 12, 2014, bringing their total funds raised to $44M
- GoodData: Received $25.7M in series E funding on September 10, 2014, bringing their total funds raised to $101.2M
- Alteryx: Received $60M in Series B funding on October 6, 2014, bringing their total funds raised to $78M
These rounds of funding speak not only to each individual company’s success in creating and innovating BI software solutions, but to the affluence of the industry as a whole. It’s obvious that as big data adoption becomes commonplace amongst enterprise communities, organizations need software to help them manage all of their data, and more importantly, gain valuable insights from it.
With new solutions from top vendors being released what seems like weekly, it’s clear that the business intelligence and analytics industry is not just surviving; it’s thriving. As more companies begin to realize how noteworthy their edge becomes after implementing big data, the need for software solutions will follow. The trends in data analytics of democratization and giving more users better access will only accelerate the space’s relevance in the enterprise world as more users are able to get their hands on it. Business intelligence and data analytics are on the verge of exploding, as a result.
We’ve witnessed the advent of “smart” phones and “smart” appliances, and in the not-too-distant future the evolution of the “smart everything” will be upon us. With access to new resources and tools, 2015 very well may be the year of the “smart” company.
Credit to CrunchBase for funding information.
Click here to read Birst’s official press release.
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