Data analysis provider Paxata has raised $8 million in Series B funding led by Accel Partners. The Redwood City, Calif.-based company, which had been operating in stealth for the past 18 months, has now raised $10 million in total funding. Paxata had previously raised a $2 million Series A round from Accel, whose partner, Dinesh Katiyar, sits on the company board. Other investors in the company include TOBA Capital, Cross Continental Ventures and individual investor Dr. Alan Baratz.
Correction: An earlier version of the summary above incorrectly listed where Paxata is based.
Paxata Launches Industry’s First Adaptive Data Preparation™ Platform for Every Business Analyst to Go From Raw Data to Ready Data, Right Now
Company Raises $8 million in Funding Led by Accel Partners to Continue Growth and Introduces Missing Link of Data Analytics Triangle
NEW YORK, STRATA – October 28, 2013 – At the Strata Conference + Hadoop World 2013, Paxata launched the first self-service Adaptive Data Preparation™ platform that lets business analysts rapidly collect, explore, transform and combine data with the same freedom they are used to in their analytic discovery. Paxata’s solution lets business people make data sets ready for ad-hoc analytics without going through the painful and manual steps they traditionally dealt with. Additionally, Paxata announced the close of their Series B round with $8 million in funding led by Accel Partners and a strategic partnership with Tableau Software, a global leader in rapid-fire, easy-to-use business analytics software.
“New data management systems like Hadoop and business-centric ad-hoc analytic tools like Tableau have removed the traditional constraints around raw data retention and rapid discovery and decisions,” explained R “Ray” Wang, Principal Analyst and Founder at Constellation Research, Inc. “The missing link of the analytics triangle are tools that do for data preparation what Tableau and others have done for data visualization.”
Historically, this process has been the realm of IT, with the people who were in need of the data having limited control over how quickly they could get it. In response, users developed their own data preparation processes – which resulted in spreadmarts and chaos.
Unlike traditional approaches, which were time-consuming and painful for both IT and the business, this emerging paradigm – which Paxata calls ‘Adaptive Data Preparation’ – delivers a user-empowered, IT-facilitated platform that enables dynamic data integration, enrichment, collaboration and governance.
“The pace of business today is faster than ever before, and quality data that’s easy to understand and analyze is essential to making timely, smart decisions,” said Ben Haines, CIO, Box. “Paxata gives us a platform for empowering our business people with a simple tool that helps them identify and prepare data, without taxing IT resources or requiring expensive data integration services.”
“Most business teams face challenges in deriving value from the ever-increasing and varied sources of information. They require a fundamentally different way to make all of that data ready for visualization and decisions…in minutes, not months,” said Prakash Nanduri, co-founder and CEO of Paxata. “Our customers, our Pax Pros, now have the freedom to collect, explore, transform, and combine data on their own or work with peers in a shared, transparent environment as they shape data for analytics in leading BI tools like Tableau.”
“Just as Tableau is about analyzing and understanding business information, Paxata is focused on getting the data ready to be analyzed and understood,” said Dan Jewett, Vice President of Product Management at Tableau Software. “We believe the relationship with Paxata will be beneficial for many Tableau customers, especially those who want to dynamically blend multiple data sources and complex data as part of their stream-of-thought querying process.”
At the Strata Conference, Howard Dresner, a leading expert in Business Intelligence, will host a panel discussion with Paxata’s co-founder and CEO Prakash Nanduri, Luca Barone from Cisco, Charles Zedlewski from Cloudera, Timothy Weaver from Dannon and John Garris from UBS on Wednesday, October 30 at 3:45 pm in the Regent Parlor.
To further fuel Paxata’s momentum, Paxata announced the close of their Series B round of $8 million in funding led by Accel and other leading venture funds.
Availability and Pricing
Paxata’s Adaptive Data Preparation platform is generally available and delivered to customers worldwide through our multi-tenant cloud. For more information and to request a demo, visit http://www.paxata.com. Paxata offers flexible subscriptions for individual or team use: a Pax Personal license is $3500USD a year and Pax Share, including collaboration and project governance, is $10,000USD a year.
Paxata introduces the first Adaptive Data Preparation™ platform built for the business analyst. Now everyone has the ability to rapidly turn all raw data into ready data for analytics—in minutes, not months – accelerating the time to right insights and action.
Our customers, Pax Pros, now have the freedom to collect, explore, transform, and combine data on their own or work with peers in a shared, transparent environment as they shape data for analytics. Paxata’s seamless connection with BI tools like Tableau, QlikView and Excel gives business people total flexibility to use the visualization and discovery solutions they prefer to use. Paxata is a cloud-based, self-service solution powered by breakthrough technologies including semantic algorithms, distributed computing techniques and a highly interactive visual experience.
Paxata dramatically reduces the most painful and manual steps of any analytic exercise, empowering analysts at market-leading companies like Dannon, Box and UBS to drive greater value for the business. In partnership with Tableau, Paxata unlocks even greater potential from Big Data and Business Intelligence investments. Founded in January 2012, Paxata is headquartered in Redwood City, California. www.paxata.com, @paxata_news.