HyperRoll Secures $12 Million in Series C Financing
MOUNTAIN VIEW, Calif., March 23, 2004 – HyperRoll, a leading provider of data aggregation software for business intelligence applications, today announced that it has closed its third round of funding for $12 million, bringing the total amount raised by HyperRoll to $27.6 million. New investor Bessemer Venture Partners led this latest round, with existing investors Greylock, Sequoia Ventures, Microdent Ventures and Vertex Venture Capital actively participating. As part of this financing, General Partner Duncan McCallum representing Bessemer Venture Partners will join the HyperRoll board of directors.
"Bessemer invests in and helps build companies that are well-positioned for long-term growth, and we invest only when we're convinced that a company can be an industry leader," said Duncan McCallum, General Partner, Bessemer Venture Partners. "We believe that HyperRoll is one of the most important new companies in the decision support industry, and we look forward to helping the company attain its potential."
“HyperRoll has met several important milestones over the past six months that positioned us favorably for this additional venture investment, including rounding out our management team, closing a number of new Fortune 1000 customers and expanding our market reach through new partnerships,” said Michael Bealmear, chief executive officer of HyperRoll. “The market opportunity for HyperRoll technology is substantial; we have only hit the tip of the iceberg. This funding will provide us with the resources to bring accelerated business visibility to a much broader audience.”
HyperRoll plans to use the new funding to expand into additional markets as well as fund new sales and marketing activities.
ABOUT HYPERROLL
HyperRoll provides data aggregation software that delivers immediate and substantial improvements in business intelligence application performance, accelerating data access and analysis for users of BI applications. Using HyperRoll, Global 2000 organizations get more value out of their existing BI investments while immediately reducing hardware, storage and manpower costs. Customers include industry-leading organizations such as Deutsche Bank, GE Financial Assurance, Kellogg’s, MasterCard, Merrill Lynch, Procter & Gamble, Roche, Sabre Holdings, Scandinavian Airlines, and Wachovia. HyperRoll has worldwide headquarters in Mountain View, Calif. For more information, visit www.hyperroll.com.About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of Network Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube and Dominic Orr and Keerti Melkote of Aruba Wireless Networks. To learn more about Sequoia Capital visit www.sequoiacap.com.
Contact:
Benny Hanigal
SEQUOIA CAPITAL
hanigal@sequoiacap.com
