LogiXML Inc., a McLean, Va.-based provider of Web-based reporting and analysis products for the enterprise, has acquired OnDemandIQ, a Los Angeles-based provider of on-demand sales analytics. No financial terms were disclosed. LogiXML last year raised $5 million from Updata Partners.
LogiXML, Inc., the fast-growing provider of interactive, web-based Business Intelligence (BI) solutions, announced today that it has acquired Los Angeles-based OnDemandIQ, a leading provider of on-demand sales analytics solutions. Cooley Godward Kronish LLP represented LogiXML in the transaction. Terms of the deal were not disclosed.
As a result of the acquisition, the entire OnDemandIQ team will be integrated into LogiXML. Steve Schneider, OnDemandIQ's co-founder, will assume the new role of chief technology officer for LogiOnDemand, where he will continue to develop industry-leading, innovative BI solutions based on the SaaS model.
This strategic move enables LogiXML to expand its suite of Software-as-a-Service (SaaS) BI solutions with the addition of a robust sales analytics platform that will serve as the core of LogiOnDemand, LogiXML's SaaS division that leverages the company's world-class BI software to provide hosted solutions for business users.
“OnDemandIQ has been a pioneer in developing user-friendly, web-based tools that empower sales teams with access to actionable data in real-time through easy-to-use dashboards and reports,” said Arman Eshraghi, CEO and founder of LogiXML. “Their technology was built upon the LogiXML platform from the beginning, so it's a natural evolution that we come together to further the development of interactive business intelligence solutions.”
OnDemandIQ, which has earned recognition in the sales analytics industry for its scalability, affordability and user-friendly graphic dashboards, enables data aggregation from multiple sources such as CRM and accounting software, marketing, finance, HR and operations. It also supports data integration from spreadsheets and new data sets to provide comprehensive performance data in a web-based interface that is available from any PC or mobile device.
Schneider has been a leader in the development of innovative SaaS business intelligence solutions since 2006 when he co-founded OnDemandIQ. Prior to this launch, he served as a practice manager at Proxicom, a leading web technology company.
“From the outset at OnDemandIQ, we recognized LogiXML's ability to deliver best-of-breed business intelligence solutions and its leadership in implementing Web 2.0 technology in the BI industry to make for a more interactive user experience,” Schneider said. “This new venture will leverage the complementary technologies of both companies to deliver a more robust and insightful sales analytics engine that adds value to the organization.”
With OnDemandIQ, sales teams — from the VP to the field reps — can access critical sales and operations data and actually gain actionable information from the data. Rather than being bogged down with spreadsheets and complicated formulas, OnDemandIQ allows sales departments — with little to no intervention from IT — to aggregate sales, marketing, HR and other data. Now, sales reps can access individual and team metrics, as well as their own sales commission data; managers can create report cards for team members, compare sales activity against goals and among team members, and even correlate sales performance with training data to spot weaknesses and opportunities for continuing education. Meanwhile, marketing and sales strategists can use the system to identify points of opportunity among product lines and plan outreach strategies accordingly.
“By virtue of its role as a leading SaaS provider of analytic solutions, the acquisition of OnDemandIQ by LogiXML makes a lot of sense on the face of it,” said Peter Traynor, editor in chief of DashboardInsight.com. “We look forward to observing how the company intends to leverage the acquisition, integrates going forward, and how the new key people will be utilized.”
“OnDemandIQ adds another layer to our commitment to making insightful business intelligence accessible to the SMB market, backed by enterprise-grade technology,” Eshraghi said. “It's a quest of sorts, driven by our desire to help businesses perform better by providing them access to information they can use and share. Bringing OnDemandIQ into the fold is a major milestone in that direction.”
A free live demo of OnDemandIQ is available at http://www.ondemandiq.com.
For more information about LogiOnDemand, go to http://www.logiondemand.com.
LogiOnDemand is a division of LogiXML, the leader in interactive, web-based Business Intelligence solutions. LogiOnDemand leverages the dynamic tools of LogiXML to empower businesses of all sizes and end users at all skill levels to turn data into business-critical information with pure web-based reporting and analysis products. Used by thousands of organizations worldwide, LogiXML products are built on standards-based technologies for easy integration, implementation and upgrade. Founded in 2000, LogiXML is privately held and based in McLean, Virginia.