Kalido Collects $5.1 Million for Data Warehouse Management
Burlington, MA-based Kalido, which makes software that helps companies make better use of historical business data, has secured $5.15 million in Series E venture funding, according to documents filed yesterday with the Securities and Exchange Commission. Existing investors Atlas Venture and Matrix Venture Partners led the round, $3.1 million of which has been collected so far. Mass High Tech first reported the story this morning.
The newest round brings Kalido’s total financing since 2003—when it was spun off by Shell—to about $34 million. President and CEO Bill Hewitt tells Xconomy that the funding is “mostly to strengthen our balance sheet…We do business with a lot of companies and they want to understand that we have enough runway.” Hewitt says Kalido does not expect to burn much of the new capital, and that in fact the company will likely turn profitable and start generating cash this year.
As our March 2008 profile of Kalido explains, customers use the startup’s software as an intermediate layer between their data warehouses—which are usually full of valuable data about past transactions and business performance—and their business intelligence tools, which help them make sense of the data.