Greenplum raises $27M for business intelligence database software

January 22, 2008 | Matt Marshall

Greenplum, a San Mateo, Calif. provider of open source database software for business intelligence, said it has raised $27 million in a third round financing.

It was led by Meritech Capital Partners, and includes Sun Microsystems and SAP Ventures, a division of software giant SAP.

The new funds will be used to continue development of Greenplum’s database, the company said, as well as to help market the product globally. The company says the global database market is $20 billion. Maybe that’s why there are so many competitors. They include DATAllegro, EnterpriseDB and ParAccel, all open-source products built upon the PostgreSQL relational database management system.

Greenplum, a five-year-old company, is supported on Linux, Solaris and OSX.

The financing follows $15 million raised in February last year from Sierra Ventures.

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About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.