Given the harrowing day in the world's stock markets yesterday and today's roller coaster ride in US markets, you would think that venture funding for start-ups and small companies would dry up like sub-prime lending. Well, maybe in other sectors but funding for BI and MDM companies is doing just fine!
Yes indeed. In just the past few weeks, BI and MDM companies have scored big -- like almost $80 million BIG! Two of the biggest occurred yesterday and today -- even with the stock market chaos. Certainly says a lot about the confidence venture capital firms have in our space. So if you are looking for big bucks, talk to these venture capital funding companies - they seem to really like what we are doing.
Here is a partial list of who got what in terms of funding.
1. ParAccel snagged $20 million on December 10, 2007 to further fund their Analytic Database product. Happy Holidays to the employees of ParAccel. The funding will be used to expand engineering, sales and support, and to open their Cupertino office according to Scott Humphrey, their marketing communications person. Their funding was lead by Walden International (who has $1.8 BILLION in committed capital), Mohr, Davidow Ventures, Bay Partners, and Tao Venture Partners. Good decision, ParAccel!
2. Greenplum - another data warehouse appliance company like ParAccel - cleaned up yesterday when it received $27 million in venture capital. And this only 11 months after a $15 million venture round! Hey Greenplum, can you spare a few million? They plan to use the new funds to continue development on Greenplum's database and to expand their sales and marketing efforts, especially internationally. Their funding was led by Meritech Capital Partners, a VC company that invests in late-stage companies (Could an IPO be in the offing soon?), and includes strategic investments from Sun Microsystems (yes, the same ones that just bought My SQL) and SAP Ventures, a division of SAP AG (which just bought Business Objects). Guess they think this fruit is mighty tasty!
3. Finally today, Siperian, developer of MDM software, announced that had closed and "oversubscribed" $25 million. The big bucks will be used to expand their European presence, develop their channels and further advance their MDM Hub technology. The funders were led by Investor Growth Capital plus all of Siperian's prior investors -- now that is confidence! Way to get it together, Siperian.
And those are just the ones that come immediately to mind that have received major funding during a very troubled economic time. And just look at all the acquisitions that have taken place in the past 3 months... These are certainly companies to watch!
Am I enthusiastic about our industry? You bet I am. Corporations all over are realizing now more than ever in these stressful times that their very survival depends on their ability to make the right decisions. What better time than now to invest in the very companies that make that possible?
Congratulations to all the well-funded BI and MDM companies. Now, make us all proud!
Yours in BI (and funding) success!
Posted January 23, 2008 2:31 PM
Permalink | 2 Comments |