FRAMINGHAM, Mass.–(BUSINESS WIRE)–July 28, 2003–Netezza Corporation today announced that it closed a round of financing totaling $20 million from top-tier venture capitalist firms. Led byCalifornia-based Sequoia Capital, the series C round includes previous investors Matrix Partners, Charles River Ventures, Battery Ventures and Orange Ventures, bringing the Company’s total funding tomore than $53 million. The Netezza Performance Server(TM) (NPS(TM)) system is the world’s first purpose-built, tera-scale data appliance optimized for business intelligence (BI). It delivers 10 to 20times the performance for large, complex and constantly growing BI efforts at half the cost of existing data warehouse systems. The NPS system combines servers, storage and database into a singlepowerful and scalable appliance created from the outset to process queries faster–and enable complex data analysis that was not previously possible because of large and fast-growing data sizes.
“Netezza continues to gain momentum in the marketplace, enabling customers to quickly analyze enormous amounts of information to make better, more strategic business decisions that were either too burdensome or just not possible with older systems,” said Jit Saxena, co-founder and CEO of Netezza. “The early traction that we are receiving in the market with our customer wins and the enthusiasm we heard from the investment community during this fund raising validate the power of the Netezza value proposition.”
Netezza continues to receive widespread industry praise for its innovative technology, leadership and early momentum. Just last month, CEO and Co-founder Jit Saxena was named an Ernst & Young New England Entrepreneur Of The Year. InformationWeek also named Saxena an “Innovator and Influencer for 2003.” Netezza CTO and Co-founder Foster Hinshaw was also recently named a “2003 InfoWorld Innovator.” Attendees at the Datacenter Ventures Conference held by Technologic Partners last year voted Netezza “most likely to succeed.” And a recent IDC Research study called Netezza “a business analytics revolution in the making.”
“We are very excited about our investment in Netezza,” said Doug Leone, general partner, Sequoia Capital. “The management team has put together an organization that has the potential to be a very large enterprise, given the breadth of the vertical markets that its solutions touch. The testimonials from Netezza’s customers confirmed our belief that this company is transforming the marketplace and changing the way enterprises do business.”
Co-founded by Jit Saxena and Foster Hinshaw in 2000, Netezza received more than $8 million in series A funding from Matrix Partners and Charles River Ventures. In 2002, the Company received more than $25 million in series B funding from Matrix Partners, Charles River Ventures, Battery Ventures and Orange Ventures. Last year, Ed Zander, the former president and chief operating officer of Sun Microsystems, joined the Company’s Board of Directors, and the company’s experienced management team includes executives from Sun, Compaq, Cisco and Teradata.
About Netezza Corporation
Netezza delivers the world’s first purpose-built, tera-scale data appliance that enables real-time Business Intelligence (BI). The Netezza Performance Server 8000 Series delivers 10 to 20 times the performance for large, complex and constantly growing BI efforts at half the cost of existing data warehouse systems. The NPS appliance is being used by data-intensive organizations in telecommunications, financial services, retail, outsourced analytic services and other markets to enable faster, more sophisticated analysis while allowing companies to leverage their existing infrastructure. Founded in 2000 and based in Framingham, Mass., Netezza is led by an experienced management team from several leading technology companies. The Company has raised more than $53M from leading venture capital firms, including Matrix Partners, Charles River Ventures, Battery Ventures, Orange Ventures and Sequoia Capital.
Netezza, the Netezza logo, NPS, Performance Server, Netezza Performance Server, Intelligent Query Streaming, Asymmetric Massively Parallel Processing and AMPP are trademarks or registered trademarks of Netezza Corporation in the U.S. and/or other countries. All rights reserved. All other company, brand and product names contained herein may be trademarks or registered trademarks of their respective holders.
