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Cloud9 Analytics, creator of cloud-based business intelligence software, announced today that it has raised $8 million in third-round funding. The company previously mentioned that it didn’t expect to seek out more funding after its second round, but clearly its plans have changed.
Cloud9’s flagship application, the Pipeline Management Suite, allows sales managers to track changes in their sales pipelines, and subsequently better manage their teams. The company designed the software with Salesforce.com users in mind, but it can also track changes in any database.
It plans to use the additional funding to further develop the Pipeline Management Suite, build out its roadmap for performance management applications, and extend its cloud-based data automation platform to allow for third-party development. Some improvements to the Pipeline Management software that we know of include a better user interface, notes and discussion for collaboration, and the integration of goals and projections.
Based in Redwood City, Calif., Cloud9 Analytics’ latest funding round was led by Mayfield Fund, with participation by previous investors InterWest Partners and Leapfrog Ventures. The company previously raised $13.6 million in funding, which puts its total funding at more than $21 million.