Adams Street leads $12.5m software round

Software provider Red Hat has joined Adams Street and a group of repeat investors in business intelligence software provider Jaspersoft.

Adams Street Partners has led a $12. 5 million third round of funding for open source business intelligence software company Jaspersoft.

Red Hat, a provider of open source solutions, has made a strategic investment in the funding round. All of Jaspersoft’s existing investors – Morgethaler Ventures, DCM, Scale Venture Partners, Partech International and corporate venture capital firm SAP Ventures – also participated in the round.

Adams Street Partners’ David Welsh, a veteran of McAfee and Partech International, will join the Jaspersoft board.

Business intelligence software allows businesses to gather, store and analyse data from across its organisation for use in decision making.