ParAccel, Inc. said Wednesday it closed a Series E round of about $15 million with Amazon.com, Inc. joining existing investors Menlo Ventures, Mohr Davidow Ventures, Bay Partners, Walden International, Tao Venture Capital Partners and Silicon Valley Bank. The database developer will use the money to expand its sales force and engineering staff. The Campbell, Calif., company’s funding to date is $73 million. It had raised $58 million prior to the latest round, according to Thomson Reuters, publisher of this blog.
PARACCEL ANNOUNCES AMAZON AS AN INVESTOR IN LATEST FUNDING ROUND
Campbell, CA – July 7, 2011 – ParAccel, Inc., provider of the world’s leading analytic platform, today announced that it has closed its latest funding round. Amazon.com, Inc. (NASDAQ: AMZN) joins ParAccel’s existing investors, Menlo Ventures, Mohr Davidow Ventures, Bay Partners, Walden International, Tao Venture Capital Partners and Silicon Valley Bank in the financing. The Company will use the investment to capture the growing demand for ParAccel’s Analytic Platform and extend its technology lead.
“Powerful database solutions help customers with their most complex analytics work involving large data sets,” said Jeff Blackburn, senior vice president of business development for Amazon. “ParAccel has an industry-leading solution and is rethinking databases for the cloud – we’re excited to back such a strong team.”
“Our investors recognize the value of conducting unconstrained analysis on massive amounts of data to generate business insight in near real time. ParAccel enables large enterprises to use all of their data in ways that were previously not possible to drive business success,” commented Chuck Berger, ParAccel’s chairman and CEO. “ParAccel’s software platform delivers the highest absolute performance as well the best price – performance on industry standard hardware avoiding the high cost of custom appliances and leveraging customers’ existing IT staff and infrastructure.”
The amount of the financing was not disclosed.
In today’s analytics-driven environment, gaining fast and accurate business insights from massive volumes of data provides significant strategic advantage. As the leader in the high performance Analytics Platform, ParAccel enables organizations to address their most dynamic and complex analytic challenges and rapidly gain ultra-fast, deep insights from very large data sets. ParAccel’s Fortune 1000 customers include companies in the financial services, retail and healthcare industries, as well as government agencies. Each organization uses ParAccel to address their business-critical data issues outside the scope of conventional data warehouses and existing analytic tools.
For more information please contact us at email@example.com or 866-903-0335, or visit us at http://www.paraccel.com.
Amazon.com Forward-Looking Statements
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