|By PR Newswire||
|August 7, 2014 11:55 AM EDT||
ATLANTA, Aug. 7, 2014 /PRNewswire/ -- Embedded BI, visual, analytics and self-service reporting software provider Izenda (http://www.izenda.com) has raised $3 million in a growth equity investment round led by Ethos Capital Partners and Hawthorne Capital. Izenda provides business intelligence visualization software for data discovery via an HTML5 model versus a developer-oriented, desktop-based environment. Current customers include Oracle, Infor, CDC, Volvo, US Navy, and Thomson Reuters.
"We are delighted to be backing Izenda in its continual efforts to accelerate and improve the highly accepted suite of BI and reporting products," said Dr. Mark Bell, Partner at Ethos Capital. "Our customer interactions confirmed that Izenda provides an experience that is ahead of the trend of placing decision-making tools into the hands of decision makers."
"This growth capital raise is a meaningful milestone for the Izenda team," said Christopher Carter, General Partner at Hawthorne Capital. "There is a large market opportunity for user-friendly, embedded BI, and the funds will allow Izenda to increase growth organically and through measured investments in sales and marketing."
The funds will expedite Izenda's growth and expand the company's share of the business intelligence and analytics software market. Izenda is currently building out new headquarters in Atlanta, Ga. and plans to move by the end of the fourth quarter.
"The investment will accelerate the rapid growth we are already experiencing," said Sanjay Bhatia, Founder and CEO, Izenda. "We are investing in massive expansion to support the sustained and growing demand for our solution. Over half a billion people today use an enterprise line-of-business application that cannot visually access or explore their data the way Izenda can. This funding will empower a lot of people."
Sanjay Bhatia founded Izenda, Inc. in 2002 to provide self-service reporting, real-time dashboards, visual analytics, and data virtualization. In 2009, Izenda was one of the first applications on the Microsoft Azure platform. Today, Izenda has become a leader in embedded BI with instant reports, flexible filters, and discoverable data. With the release of 6.8 in Fall 2014, Izenda will provide full spectrum analytics with multi-dimensional, interactive visualizations.
In conjunction with the financing, Mike Casey has joined Izenda's management team as Chief Financial Officer, and Mark Bell and Christopher Carter have joined the Board of Directors of Izenda, Inc.
Over one million business users and technologists use Izenda's agile business intelligence tools to make better business decisions every day. We believe in the power of utilizing metadata to create technology that takes hours or days rather than months or years to deploy. Our SaaS-based solution, available for Web or native applications, allows users to analyze data in real-time through custom dashboards and reporting tools with interactive visualizations. At Izenda, we define software as the experiences we create for our customers and not just the features in our products. www.Izenda.com
About Ethos Capital Partners
Ethos provides growth equity and opportunistic capital to small and mid-sized companies in Georgia and throughout the Southeast. Working across sectors and structures, Ethos believes a people-first investment approach delivers superior returns over the long term. Ethos leverages a unique set of relationships to originate and add value to a set of opportunities beyond traditional private equity investing. www.ethospartners.com
About Hawthorne Capital Partners
Hawthorne Capital is an Atlanta, GA based investment firm that funds exceptional companies nationwide. The firm provides growth equity and credit investments for growth, recapitalizations, and management-led buyouts. Hawthorne seeks to find and partner with exceptional entrepreneurs to help them accelerate their growth and achieve targeted results and outcomes.www.hawthornecapital.co
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