Grenoble based, Business Intelligence (BI) startup BiBOARD has raised €2 million from 4 principal investors, Entrepreneurs Factory, Rhône-Alpes Création, Expansinvest, and Sigma Gestion, with the support of the BPI.
The cloud BI space is one that’s gotten a lot of attention in recent years with the shift, particularly among enterprises, to the cloud. And according to BiBOARD, is a market estimated at $17 billion. Simple, interactive and intuitive vizualization of data has been one of the important benefits integrated with cloud BI solutions. French startups BIME and qunb (acquired late last year), became hot commodities in this fast growing space.
BiBOARD, which was founded in 2008, has also established itself in recent years as a key player in this market, growing to 500k users and gaining 11k new users each month. They’ve also managed to bring on-board some big name clients, including Orange, Clarins, and Domaines Barons de Rothschild (Lafite), and key partners including BULL and ATOS. In addition to providing comprehensive and dynamic vizualization of data, one of the things BiBOARD also brings to the market is a collaborative aspect, where users can communicate with their ‘ecosystem’ (clients, partners, and suppliers) via a secure hypertext link.
This first round of funding will enable BiBOARD to execute against a more ambitious vision. Namely, to expand their solution ‘Business Intelligence Cloud & Communicante’ internationally and to strengthen their business development through bringing on-board 14 new hires in sales, marketing and business development. All of which, they anticipate will expand their user base from 500k currently to 5 million in 3 years.
BI startup BiBOARD raises €2 million to grow user base to 5 million in 3 yrs