Originally posted on Pentaho Business Analytics Blog:

It’s an immensely proud day for Pentaho. Today we announced that a syndicate of venture capital firms led by NEA that includes Benchmark Capital, Index Ventures and DAG Ventures has agreed to invest $23 million in the company. You can read the press release here.

These firms share a common belief that the big data revolution offers significant upside and is part of a larger transformation taking place in the enterprise software industry that includes cloud computing. NEA’s recent blog post, SaaS 3.0: Big Data that Delivers, describes this very eloquently.

However, no matter how cool a company’s technology is, the ability to attract funding depends on how well the company is delivering on its strategy. I’m pleased to report that our first-mover advantage in big data really started to pay off in 2012, with our big data sales growing by more than 300%!  And I believe…

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