Birst, a cloud company focused on business intelligence and visual analytics, has taken a $ 38 million cash infusion.
This is the startup’s fifth round of institutional funding. The Series E was led by Sequoia Capital with participation from new investor Northgate Capital and existing investors Hummer Winblad Venture Partners and DAG Ventures.
The company said in a press release it plans to use the funding to fuel its international growth and develop new products.
The company claims Fortune 500 and midmarket customers in its client list. New customers include American Express, InterContinental Hotels, Cisco, Leapfrog, Samsung, and the government of New South Wales, among others. Birst plans to gain new territory in Europe, the Middle East, and Asia.
“The demand for BI continues to grow, and the shift to the cloud has become unstoppable,” said co-founder and CEO Brad Peters in a statement on the fundraise. “This investment furthers our ability to strengthen our product and will allow us to extend our leadership.”
Birst recently got a new feather in its cap, as well; Gartner named the company as a Challenger in its 2013 Magic Quadrant for business intelligence and analytics.
The company took its last financing in May 2012, when it gathered up $ 26 million. Its competitors include heavyweights such as SAP, IBM, and Oracle.
Filed under: Cloud