GOVERNMENT

HyperRoll, a leading provider of data aggregation software for business intelligence applications, today announced that it has closed its third round of funding for $12 million, bringing the total amount raised by HyperRoll to $27.6 million. New investor Bessemer Venture Partners led this latest round, with existing investors Greylock, Sequoia Ventures, Microdent Ventures and Vertex Venture Capital actively participating. As part of this financing, General Partner Duncan McCallum representing Bessemer Venture Partners will join the HyperRoll board of directors. "Bessemer invests in and helps build companies that are well-positioned for long-term growth, and we invest only when we're convinced that a company can be an industry leader," said Duncan McCallum, General Partner, Bessemer Venture Partners. "We believe that HyperRoll is one of the most important new companies in the decision support industry, and we look forward to helping the company attain its potential." "HyperRoll has met several important milestones over the past six months that positioned us favorably for this additional venture investment, including rounding out our management team, closing a number of new Fortune 1000 customers and expanding our market reach through new partnerships," said Michael Bealmear, chief executive officer of HyperRoll. "The market opportunity for HyperRoll technology is substantial; we have only hit the tip of the iceberg. This funding will provide us with the resources to bring accelerated business visibility to a much broader audience." HyperRoll plans to use the new funding to expand into additional markets as well as fund new sales and marketing activities.