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Jaspersoft Closes $12 Million in Series D Financing
Led By Scale Venture Partners
SAP Ventures Also Invests; ScaleVP's Rory
O'Driscoll Joins Board of Directors
Thursday, August 9, 2007
SAN FRANCISCO - August 9, 2007 - 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 ofJasperSoft 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
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.
About JasperSoft
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 www.jaspersoft.com and www.jasperforge.org.
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