We will use the funds from this round of financing to expand our international presence dramatically to further capitalize on the enormous market traction we are seeing," said Måns Hultman, CEO of QlikTech International.

QlikTech is a provider of business intelligence software solutions headquartered in Lund. The company is dedicated to providing out-of-the-box business performance management and intelligence solutions for interactive data analysis with focus on ease of use and deployment.

QlikTech’s flagship product, QlikView, is based on the patented AQL technology. The AQL technology enables QlikTech to deploy Business Intelligence solutions in a fragment of the time and cost it takes for traditional software products. There are currently 1,500 active customers in 43 countries using QlikView including companies such as AstraZeneca, Pfizer, Top Flite, London Fog, Sara Lee, and The Campbell Soup Company.

The company’s customer base is growing quickly both within its traditionally strong geography in Scandinavia as well as in the rest of Europe and the United States. The company has fully owned subsidiaries in Germany and the US and plans to expand its presence in other countries rapidly.

"QlikTech has created a remarkable product that delivers the value of OLAP with the ease of use of a spreadsheet. In speaking with existing customers, their enthusiasm and praise for QlikTech´s products were truly compelling. We believe that QlikTech represents a major step forward in the business intelligence market and addresses the growing need for companies to have an analytical product that is easy to use and deploy yet provides powerful, real-time insight into changes in their business environment," said Bruce Golden, General Partner, Accel Partners.

"The market is very hungry for non-intrusive ways of measuring company performance and easily retrieving information from vast, and dispersed, data sources. QlikTech is poised to change the game. Their highly successful recipe for virtually eliminating complexity for the end-users is unprecedented," remarks Alex Ott, JVP Venture Partner.

More information: QlikTech