JasperSoft Closes $12 Million in Series D Financing led by Scale Venture Partners

SAP Ventures Also Invests; ScaleVP's Rory O'Driscoll Joins Board of

Directors

    SAN FRANCISCO, Aug. 9 /PRNewswire/ - JasperSoft, the market leader in
 open source business intelligence (BI), announced today that it has closed
 $12 million in its fourth round of funding. Scale Venture Partners led the
 round and was joined by new investor SAP Ventures. Existing investors DCM,
 Morganthaler Ventures and Partech International also participated in the
 round. JasperSoft also announced that Rory O'Driscoll, a Managing Director
 with ScaleVP, joined the board.
     "We are delighted that Scale Venture Partners and SAP Ventures share
 our vision for open source business intelligence and decided to lead this
 round of expansion financing," said Paul Doscher, CEO of JasperSoft.
 "Building on our strong base of more than 6,000 customers, we will use this
 financing to expand our distribution channels and international reach, as
 well as invest in growing our open source community and extend the range
 and capabilities of our product suite."
     JasperSoft closed this round of funding following the shipment of the
 JasperSoft Business Intelligence Suite 2.0. This new end-to-end BI suite
 builds on the company's strong open source base and offers business
 customers commercial licenses, advanced support levels, indemnification,
 advanced features, with an expanded set of supported application server,
 database, and operating system platforms. This new suite includes products
 which provide extended functionality to more users with interactive
 reporting, data analysis, and data integration.
     "Embracing the open source model has allowed JasperSoft to leverage the
 world's largest open source BI community to build a large customer base
 quickly," said Rory O'Driscoll. "In the six quarters since they introduced
 the professional editions of their open source product suite, they have
 increased their customer base to more than 6,000 organizations around the
 world. Existing pure-players in the business intelligence market will be
 threatened by companies such as JasperSoft, who can offer the same
 functionality at a fraction of the price."
     "JasperSoft has demonstrated that it can make BI available and
 affordable to enterprise customers by leveraging open source," said Jai
 Das, Partner at SAP Ventures. "We believe the company is poised to deliver
 its innovative solutions to a much broader range of businesses worldwide."
     In the past two quarters JasperSoft has achieved an impressive range of
 milestones including:
     -- The Introduction of JasperSoft Business Intelligence Suite 2.0.  In May
        Jaspersoft introduced a major upgrade to its product suite, with
        significant new functional capabilities, language and platform support.
        To celebrate the launch of JBIS 2.0 JasperSoft also introduced a new
        Unlimited Use subscription offer, which gives organizations the ability
        to deploy JBIS 2.0 on an unlimited basis for a $35K annual
        subscription.
 
     -- OEM Deals with MySQL and Ingres.  JasperSoft has emerged as the
        business intelligence standard in the open source database market,
        signing OEM deals with MySQL and Ingres to extend the value of these.
        two market-leading database providers.
 
     -- Red Hat Exchange Reseller Agreement.  In May JasperSoft announced that
        it had been selected as a launch partner for RedHat's innovative new
        reseller program, the RedHat Exchange.  JasperSoft introduced
        JasperServer For RHX and JasperAnalysis For RHX, specially packaged
        versions of its products that have been certified and configured for
        sale through the Exchange.
 
     -- Leadership in CRM Analytics.  This quarter JasperSoft extended its lead
        in business intelligence for open-source and on-demand CRM by
        introducing Jasper4SugarCRM, a high-performance reporting and analysis
        BI solution optimized for use with the SugarCRM Sugar Suite.  This
        announcement came on the heels of JasperSoft's success with
        Jasper4Salesforce, the #1 ranked analytics solution on the
        Salesforce.com AppExchange.
 
     -- JasperReports Wins Duke's Award at JavaOne.  JasperSoft was named a
        prestigious Duke's Choice Award winner by Sun Microsystems.  The Duke's
        Choice Awards celebrates the best and most innovative technology-based
        applications and services in the business from among all the cool
        projects in the world of Java technology.
 
     -- JasperSoft Passes 6,000 Customers Milestone.  In less than two years
        since its launch as a commercial organization, JasperSoft has exceeded
        6,000 customers for its open source business intelligence products and
        services in over 81 countries.
     About Scale Venture Partners
     Scale Venture Partners employs a thesis-based strategy to identify
 innovative development-stage technology and healthcare investments. The
 Scale team helps technology and healthcare companies accelerate their
 growth and become more valuable to entrepreneurs, investors and consumers.
 Based in Foster City, California, the Scale team collectively offers
 decades of technology and venture industry experience to development-stage
 companies in hardware, software, healthcare and medical devices.
 Representative portfolio companies include Alimera, Frontbridge, Glu
 Mobile, Good Technology, Monolithic Power Systems, Omniture, Orexigen,
 Placeware, Scansafe, Seattle Genetics, Somaxon, Wayport and Xceive. For
 more information, please visit http://www.scalevp.com.
     About SAP Ventures
     SAP Ventures helps build industry-leading companies by partnering with
 outstanding entrepreneurs and top-tier venture capital firms. As the
 corporate venture capital arm of SAP AG, we operate under two independent
 but synergistic imperatives. First, we act autonomously in discovering and
 pursuing opportunities for outstanding financial returns that may be
 independent of or central to SAP's corporate strategic focus. Second, we
 bring substantial benefit to both our portfolio companies and SAP by
 facilitating interaction between innovative young companies and the SAP
 ecosystem.
     About JasperSoft
     JasperSoft is the market leader in open source business intelligence
 (BI). With more than two million downloads worldwide and more than 6,000
 commercial customers in 81 countries, JasperSoft offers the most widely
 used open source business intelligence software in the world. The
 JasperSoft Business Intelligence Suite is comprised of an interactive
 reporting server, graphical and ad hoc report design interfaces, OLAP
 analysis, an ETL data integration engine, and a Java reporting library for
 scalable small, medium, and large enterprises, for use as either
 stand-alone or embedded business intelligence applications. JasperSoft is
 based in San Francisco and is backed by leading venture capital firms
 Morgenthaler Ventures, DCM, Partech International, Scale Venture Partners
 and SAP Ventures. More information is available at
 http://www.jaspersoft.com and http://www.jasperforge.org.
     Media Contacts:
 
     For JasperSoft:
 
     Craig Oda
     PageOne PR
     coda@pageonepr.com
     650.543.4702
 
     For ScaleVP:
 
     Carol Sacks
     Tenor Communications
     carol@tenorcom.com
     650.520.8261
 
 

SOURCE JasperSoft