LogiXML, a pioneer of web-based business intelligence (BI) software, has closed a growth equity investment led by Summit Partners. Also participating in the round is Grotech Ventures, an existing LogiXML investor.
LogiXML investors now include Summit Partners, Grotech Ventures and Updata Partners. The funds will be used to accelerate LogiXML’s growth and expand the company’s share of the BI and analytics software market.
“As the broader BI and analytics market continues to expand, LogiXML has successfully capitalised on the demand for lightweight, agile BI solutions and has succeeded in market segments where traditional BI platforms fall short,” says Brett Jackson, CEO of LogiXML. “The investment made by Summit Partners and Grotech Ventures will enable us to accelerate our growth, build a much larger business, and increase our leadership position in our target segments.”
LogiXML gives IT professionals the fastest way to create BI applications, deploy scalable dashboards and reports, and embed analytics into existing applications — all for a fraction of the cost of other solutions. Unlike traditional BI platforms that are complex and expensive, LogiXML’s technology allows organisations to rapidly develop, refine, and adapt BI applications that serve multiple users on any platform, without extensive development or professional services.
Additionally, LogiXML’s flexible and extensible architecture allows software and SaaS providers to seamlessly embed these data visualisations directly in their own products and services. Increasingly, organisations are leveraging this notion of “embedded BI” to deliver decision-making information directly into the core systems and processes used every day by their employees, partners, and customers.
“We are seeing more and more companies embed BI directly into their applications in order to get actionable data into the hands of business users quickly,” says Michael Medici (pictured), a Vice President of Summit Partners, who will join LogiXML’s Board of Directors. “Summit is pleased to support the strong team of entrepreneurs at LogiXML as they continue to take advantage of this embedded BI trend and position the company for continued rapid growth.”
Earlier this year, LogiXML was positioned for the first time in the 2011 Gartner Magic Quadrant for Business Intelligence Platforms, where its products ranked among the highest for ease of use, overall product functionality, support, product quality, performance, and customer experience.
