McLean, VA (PRWEB) October 2, 2008
LogiXML, Inc., the leader in purely web-based, truly unified Business Intelligence (BI) reporting, dashboard, and analysis solutions announced today that it has secured $3 million from Grotech Ventures. This funding brings total investments in the company to $8 million, including an earlier round from Updata Partners, which has been leveraged in support of LogiXML's explosive growth. Additionally, Grotech Ventures General Partner, Steve Fredrick will join LogiXML's Board of Directors.
"Grotech's strategy is to invest in high-potential technology companies and work as their partner toward continued growth," said Fredrick. "Along with our capital investment in LogiXML, we will work hands on with the management team and the board of directors to lend expertise on strategic issues, new business development, and most any other industry challenge. LogiXML has built a solid foundation for growth through its commitment to excellence and entrepreneurial spirit. They set the standard for Web-based, highly embeddable BI solutions and continue to lead the way through constant innovation."
LogiXML is the fastest growing alternative to cumbersome Business Intelligence tools. Easier and faster to use, deploy & embed, LogiXML Web-based Dashboard, Reporting & Analysis solutions empower everyone to access and act on critical information - no matter where it resides. Simple, straightforward server licensing enables organizations to use LogiXML solutions without the burden of per user-fees. Thousands of organizations and software companies worldwide use LogiXML to provide powerful, interactive dashboards in hours, reports in days, and analysis on demand.
"LogiXML has already created a leading Web-based BI platform that is now being used by hundreds of customers worldwide," said LogiXML Founder and CEO Arman Eshraghi. "We are now focused on expanding our sales and marketing efforts to further our company's growth and success. We're fortunate enough to have found great partners in Grotech Ventures, the addition of whom will help to ensure our ability to continue down the path of success that we've forged."
About Grotech Ventures
Grotech Ventures is a team committed to helping creative and driven entrepreneurs build technology companies that last. Our strategy is simple: early investors in high-potential technology companies. We initially invest from $500,000 to $5 million. Areas of emphasis are: Communications & IT Infrastructure, Software & Services, and Internet & Digital Media. Our investments tend to be east of the Rockies with a focus on the mid-Atlantic and Southeast. With committed capital in excess of $1 billion, we are currently investing Grotech VII. To learn more about Grotech Ventures, please visit http://www.grotech.com.
About LogiXML, Inc.
LogiXML, the leader in interactive, Web-based Business Intelligence, empowers enterprises to turn data into business-critical information with pure Web-based reporting and analysis products. The company offers a comprehensive platform that addresses all key areas of BI--managed reporting, ad hoc reporting, analysis and data services. Used by thousands of users worldwide, LogiXML products are built on standards-based technologies for easy integration, implementation and upgrade. LogiXML's per server pricing model makes its powerful technology the most affordable BI solution on the market. Founded in 2000, LogiXML is privately held and based in McLean, Virginia. For more information, please visit http://www.logixml.com.
For more information please contact:
Heather M. Bell
Director of Partner Marketing