Big Money for Open Source Company
November 22, 2012
If someone told you that there wasn’t any money to be made in open source technology, first tell them they are extremely wrong and then have them read this article from Tech Crunch called “Open Source Business Intelligence Company Pentaho Lands $23 Million Series C.” Pentaho is an open source business intelligence vendor and the company landed $23 million in funding from investors, the biggest contributor being New Enterprise Associates. Pentaho has led four prior funding rounds, bringing the total to $55 million.
Going over the company’s history, this is another success for them:
“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.”
As a major player in the open source field, Pentaho has most notably been known for its software that adds native support for NoSQL Databases, Apache Hadoop distributions, columnar databases, and traditional relational databases. Its Kettle, an data integration platform, was released earlier this year. Pentaho will use the money to fund more open source projects. We have to wait and see what develops. We already know what is to develop with LucidWorks, an open source search company. LucidWorks is where the open source search experts are and they have some of the most robust and powerful search applications for Big Data and the Cloud.
Whitney Grace, November 22, 2012
Sponsored by ArnoldIT.com, developer of Augmentext
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