Venture capital deals in the fourth quarter may be off to strong start after a series of companies from around the Washington region collected millions of dollars from investors this week. These firms added cash to their coffers:
McLean-based Logi Analytics collected $27.5 million thanks to an investment from LLR Partners and Updata Partners.
The firm provides data analytics software that allows companies to crunch large volumes of data from different sources in order to make better business decisions.
The company said in a news release that the money will be used to create new products and hone its existing technology, while also expanding into new markets. Logi Analytics currently works with companies in sectors as varied as financial services, health care, manufacturing and defense.
Chief executive Brett Jackson did not return calls for comment. “By expanding into new markets and continuing to enhance our highly functional and easy-to-use technology, we can equip more enterprises with the ability to harness insights from their data through analytics,” he said in a statement.
In the past, Logi Analytics has collected $23.1 million from Grotech Ventures, Summit Partners and Updata Partners, all of whom remain invested in the company.
“Business intelligence is no longer a nice-to-have. Logi Analytics gives companies of all sizes the affordable, scalable technology they need to make smarter business decisions based on real-time data,” David Reuter, partner at LLR, said in a statement.