LogiXML, a provider of web-based business intelligence (BI) software, announced that it has received a $10 million investment led by Summit Partners, a growth equity firm that invests in rapidly growing companies. Also participating in the round is Grotech Ventures, an existing LogiXML investor. The funds will be used to accelerate LogiXML's growth and expand the company's share of the BI and analytics software market.
LogiXML provides tools for rapid development and deployment of BI applications, dashboards and embedded analytics. LogiXML's market is what many refer to as "pervasive BI," which actionable analytics are run behind the scenes from users, Ken Chow, CMO of LogiXML, tells 5 Minute Briefing. "We consider our market to be part of pervasive BI as defined by the delivery of analytic data, both real-time and historical, to users throughout an organization. Typically, this also entails event-detection, workflow management, and application integration and embeddability."
LogiXML's tools are also used by software and SaaS providers to embed data visualizations directly in their own products and services. "Our typical customer implementation involves the creation of web-based information-driven applications that are tightly coupled with operational processes such as sales, marketing, HR, and ERP systems," says Chow. "We believe that the most important future enhancements include enhanced data discovery, as well as collaborative systems that enable the creation of communities of practice for the sharing and development of business intelligence across groups."
More information about LogiXML is available at www.logixml.com.