Redwood City, California-based Paxata, an information platform for business consumers, has secured $33.5 million in funding. Intel Capital led the round with participation from Microsoft Ventures, Cisco, Deutsche Telekom Capital Partners, AirTree Ventures and EDBI.
San Diego, CA (Intel Capital Global Summit 2016) – Oct. 24, 2016 – Paxata, provider of the only enterprise-grade, self-service, adaptive information platform that serves the needs of both the business consumer and IT, today announced it has raised $33.5 million in its fourth round of investment. The latest round was led by Intel Capital, along with new co-investors Microsoft Ventures, Cisco (Investments?), Deutsche Telekom Capital Partners and AirTree Ventures, as well as existing investors EDBI, the corporate investment arm of the Singapore Economic Development Board, In-Q-Tel and Accel.
The latest round of funding will be used to further accelerate the core semantic and machine learning underpinnings of Paxata’s next generation adaptive information platform and continue expanding the company’s global presence into Europe and high-growth markets. Additionally, Paxata will extend its industry thought leadership and education around intelligent information management to help business analysts, Chief Data Officers, and IT management.
“In 2013, we pioneered the self-service data preparation category,” said Prakash Nanduri, CEO and co-founder of Paxata. “After demonstrating over 250% growth in bookings and serving the world’s largest and reputable brands, we are now poised to extend our leadership and disrupt the $20 billion Enterprise Information Management (EIM) market with the power of algorithms, in-memory, distributed computing, hybrid cloud architecture, and an unparalleled consumer experience. We are honored that our vision and execution to date is being endorsed by the world’s leading corporate and financial investors.”
Paxata was also recently chosen to be the Adaptive Information Platform within the Intel Big Data & Analytics Trusted Analytics Platform (TAP) initiative, the offering that accelerates the creation of cloud-native collaboration driven by big data analytics. Paxata was selected to be part of the Intel TAP partnership based on its innovative use of machine learning, natural language processing, and semantic analysis to improve the user experience with modern data architecture.
“Intel is pleased to be leading Paxata’s latest round of investment. In 2015, we began our journey with Paxata by becoming a customer. Recently, Paxata has been chosen as the preferred information management platform within our growing Trusted Analytics Platform (TAP) initiative which provides the connection between Big Data and applications with a collaborative advanced analytics platform,” said Ronald Kasabian, Vice President of Intel Corp. and General Manager of Big Data Solutions for Intel’s Data Center Group. “Intel and Paxata share the view that accurate and timely information is the foundation to insight gleaned from massive amounts of data, which has the ability to dramatically transform business. The combination of Big Data, high-performance distributed computing, and sophisticated algorithmic intelligence leveraging Paxata’s adaptive information platform are critical to accelerating time to insight.” (not approved)
Earlier this year the company expanded its presence beyond North America by establishing its APAC headquarters in Singapore and forging strategic partnerships with Zalesia in South Korea and K.K. Ashisuto in Japan.
“Cox has long been at the forefront of making strategic bets on key technologies that drive value for our business,” said Mike Burns, V.P. Enterprise Architecture at Cox Automotive. “After evaluating a number of solutions in the market, it became clear that Paxata’s approach to creating the only enterprise-class self-service information platform would meet the dynamic requirements of our business team’s with a visual, no code, interactive user experience on large data volumes coupled with a secure, governed, enterprise-class platform that we could easily deploy both on-premise and in the cloud to take advantage of elastic architectural principles. We are really pleased to see that Paxata is being backed by the leading financial and corporate partners to deliver on its great vision.” (not approved)
About Deutsche Telekom Capital Partners (DTCP)
Deutsche Telekom Capital Partners (DTCP) is Deutsche Telekom’s investment management group. With approximately $2 billion under management and advisory, and a portfolio of over 70 companies, DTCP provides venture capital, private equity, and strategic advisory services to the technology, media and telecommunication sectors. Operating as a bridge between Europe, Silicon Valley and Israel, the company connects people, capital, and ideas to accelerate innovation and provide value to its portfolio companies, its limited partners, and the connected world. Twitter @TelekomCapital
Paxata’s platform provides an interactive, analyst-centric data prep experience powered by a unified set of technologies designed from the ground up for comprehensive data integration, data quality, semantic enrichment, collaboration and governance. Information-driven organizations who want to make data worth analyzing use Paxata to gather, explore, clean, shape, combine, collaborate and publish all the data they need into rich AnswerSets™ which power ad hoc, operational, predictive and packaged analytics. Business analysts are assisted by machine learning algorithms to more easily understand, categorize, integrate, and link data to more quickly and accurately build trusted meaningful AnswerSets™ for analytics and business actions.
Paxata’s platform, built on Apache Spark and optimized to run in Hadoop environments, leverages distributed computing, machine learning and a dynamically visual workspace that promotes transparent governance and ad hoc collaboration. Paxata data prep, powered by IntelliFusion™, is designed to eliminate the need for coding, scripting and sampling. The solution is available as a service, and can be deployed in AWS virtual private clouds or within Hadoop environments at customer sites.
Paxata is headquartered in Redwood City with offices in New York, Ohio and Washington DC. Visit www.paxata.com, follow @Paxata, connect on linkedin.com/company/paxata, follow us at www.facebook.com/paxata and watch us on http://www.Youtube.com/PaxataTV.