Birst Grabs $26M in Financing

The business intelligence software provider, which doubled its revenues in the past year, will use the cash to accelerate its growth.

Analytics software provider Birst has completed a $26 million investment led by Sequoia Capital. Existing investors including Hummer Winblad and DAG Ventures also participated in the round.

According to Birst, it will use the new funds to further accelerate its growth, continue its focus on product development and expand into new markets.

In the past year Birst more than doubled its revenues and grew its customer base by more than 40 percent. New customers include Aruba Networks, en World Japan, Five9, Grupo Tress, Host Analytics, Motorola, oDesk, Saba, SunCap Financial, and Swann Insurance.

Also in the past year Birst introduced several new products and services, including a software-as-a-service business intelligence appliance, an in-memory database optimized for analytics, a cloud-based mobile business intelligence software development kit (SDK) for the iPad, and support for Hadoop and Big Data analytics. 

“This is an extraordinary time for us. We founded Birst to change the way the world used and interacted with BI and by pushing the envelope of possibility we are witnessing great success,” said Brad Peters, Birst's CEO and co-founder.

  This article was originally published on Wednesday May 2nd 2012
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