McLean-Based LogiXML Lands $10 Million in New Funding
McLean, Virginia – LogiXML, one of the world’s most agile web-based reporting and data visualization platform has secured a $10 million venture capital funding according to the documents submitted to Securities and Exchange Commission (SEC) last Monday. The new round of funding was led by Summit Partners and was supported by existing backer Grotech Partners.
LogiXML did very well this year having a 100% sales growth in the third quarter. 3 years ago, LogiXML received the $3 million funding from Grotech capital which leads to the companies yearly growth of sales and this year is its 11th sequential quarter of growth.
LogiXML was launched in 2000, more than 10 years ago and it has come become the choice of most IT professionals in developing business intelligence applications, deploying scalable dashboards and reports, and embedding analytics into existing applications and compared to other solutions, LogiXML is cost effective. It has received backing from Red Hat Inc. as well.
The new funding will be used to accelerate growth and to become a dominant solution in the business intelligence and analytics software market.
For further information, visit LogiXML official website:
