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.
Author: Wade Roush
Between 2007 and 2014, I was a staff editor for Xconomy in Boston and San Francisco.
Since 2008 I've been writing a weekly opinion/review column called VOX: The Voice of Xperience. (From 2008 to 2013 the column was known as World Wide Wade.)
I've been writing about science and technology professionally since 1994. Before joining Xconomy in 2007, I was a staff member at MIT’s Technology Review from 2001 to 2006, serving as senior editor, San Francisco bureau chief, and executive editor of TechnologyReview.com. Before that, I was the Boston bureau reporter for Science, managing editor of supercomputing publications at NASA Ames Research Center, and Web editor at e-book pioneer NuvoMedia.
I have a B.A. in the history of science from Harvard College and a PhD in the history and social study of science and technology from MIT. I've published articles in Science, Technology Review, IEEE Spectrum, Encyclopaedia Brittanica, Technology and Culture, Alaska Airlines Magazine, and World Business, and I've been a guest of NPR, CNN, CNBC, NECN, WGBH and the PBS NewsHour. I'm a frequent conference participant and enjoy opportunities to moderate panel discussions and on-stage chats.
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