Data integration and management software maker Siperian Inc. announced a $25 million Series E round on Wednesday that will allow it to continue a big push into the European market.

The new financing nearly doubles the total $29.5 million the company had raised in its four prior rounds, giving Menlo Park, Calif.-based Siperian a total of $55 million since its formation in late 2000.

New investor Investor Growth Capital, the venture capital arm of Stockholm-based Investor AB, led the expansion round with participation from all of its existing stakeholders. Previous investors include Constellation Ventures and Reed Elsevier Ventures, both of New York; ArrowPath Venture Capital of Redwood Shores, Calif.; Anthem Venture Partners of Santa Monica, Calif.; San Francisco-based Blumberg Capital; Red Rock Ventures of Palo Alto, Calif.; Toronto-based Brightspark Ventures; and London-based Saffron Hill Ventures.

Prior rounds consisted of a March 2005 Series D for $10 million, which followed a $7 million C round in May 2004 and an $8 million second round in February 2003.

Siperian has been profitable for the last six months, according to Anurag Wadehra, VP of marketing and product management, thanks to a surging top-line growth in 2007. Demand for its technology has been hot, resulting in revenues more than tripling in 2007.

"Our biggest growth is coming from industries that are spending money in addressing the problem of data," said Wadehra. "These turn out to be financial service firms, insurance firms, life sciences firms and manufacturing firms; part of it is that the stakes are so high and the return on investment is so significant."

While not guaranteeing 300% top-line in the future, Wadehra did say he expects the company's revenues to continue growing at a very fast pace.

Among Siperian's clients are Merrill Lynch & Co., Deutsche Bank AG, AstraZeneca plc, EMC Corp. and Pfizer Inc. In addition to its customer relationship management software applications, Siperian's data management products are used for implementing stringent compliance requirements, making federal legislation like Sarbanes-Oxley a strong driver of sales.

A large part of the decision to raise additional capital and for choosing IGC as the lead investor was the company's plan to accelerate its plans for expansion in and among global Fortune 500 companies in Europe.

"We decided to have IGC as a partner because they have a significant presence in Europe, a geographical area where we plan to expand and we hope to capitalize on their networks and strengths in that region," Wadehra said.

"[Our European presence is] one of the things they really liked about us," added Noah Walley, a managing director at IGC and new Siperian board member. "Investor Growth Capital is delighted to leverage its global network and experience in the software sector to help further establish Siperian as the pre-eminent brand for master data management."

For its part, IGC decided to the lead the round after looking at the company's growth trajectory and how the company has executed thus far.

"Their market is one the few that's growing at more than 50% per annum," said Walley. "And we looked at what Siperion has actually done with its customers; we couldn't find one deployment that hadn't gone very well, which stood out because historically this has been a marketplace where that has not been the case."

The capital will also go toward channel development and further development of the company's lead product, Siperian MDM Hub, which is used by organizations to create complete views of their customers, products and organizations and to make data assets more actionable within existing business processes.

Siperian began shipping its first products for data integration and management in May 2003. The company's products initially focused on helping customers integrate data from a variety of sources on-demand in real time. Three months later, Siperian bought Toronto-based Delos Technology, adding batch-processing capabilities and a customer data management platform capable of integrating massive amounts of information to the company's offerings.