BI and analytics provider Birst has secured $65m in its latest round of funding which the firm said would be used to fuel sales and marketing efforts globally.
The latest funding round brings the total amount secured by the company to $156m.
“We’ve seen an explosion in data volumes, data sources, and end-user demand in the analytics market. Organizations need speed, end-user self-service and robust data governance from their next-generation business intelligence platform. That’s exactly what we deliver at Birst,” said Jay Larson, chief executive officer of Birst.
Doug Leone, partner at Sequoia Capital, one of Birst’s investors, said the business intelligence market is going through a massive transformation at the moment.
“The BI market is going through a major transition as the legacy suppliers continue to decline. The race for next-generation leadership in BI and analytics is going to be won by the supplier that offers world-class technology, great business leadership, and a proven capability to focus on today’s needs versus those from a decade ago,” Leone said.
Birst’s strategy seems to be in line with where enterprises are headed. According to the BCN Annual Industry Survey, which polled over 700 senior IT decision makers globally, about two thirds of enterprises plan to use cloud-based analytics platforms over the next 18 months.
Last year Birst moved to bolster its presence in Europe and the UK, launching a version of its solution hosted in AWS’s Ireland datacentre, and expanding its UK team. It also struck a deal with SAP to make Birst’s analytics platform available on HANA.