Thursday, May 7, 2009

Kalido taps $3M of a $5M venture funding round

By Galen Moore

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Kalido Inc. has received $3.1 million of a $5.1 million round of funding, backed by return investors Atlas Venture and Matrix Venture Partners, according to a document filed Wednesday with federal regulatory authorities.

UK-based Balderton Capital is also an investor, according to Kalido’s website.

The last round of funding Kalido reported to regulators was a $5 million extension to a $10 million Series D round, which closed in September of 2008. When complete, the latest  funding will increase the Burlington-based company’s total funding to at least $68.6 million.

Kalido makes business intelligence software. In 2008, the company introduced a subscription-based product targeting midsize companies, with prices at the time starting at $5,000 per month.

Last October, Kalido CEO Bill Hewitt told Mass High Tech the company planned to reach profitability by 2009.

Timothy Barrows, a partner at Matrix Partners, holds a board seat, as does Atlas Venture partner Christopher Spray. Neither could be immediately reached for comment. Kalido executives also could not immediately be reached.