ParAccel provides a platform comprised of an analytic database surrounded by extensibility and integration technology as a foundation for running big data analytics. The company is led by chairman and CEO Chuck Berger and is based in Campbell, CA. ParAccel serves clients across a wide range of industries, including financial services, government, healthcare, travel, hospitality, information service providers and customer relationship management. Recently acquired customers include Alliance Health Networks, the Department of Defense and TRX. ParAccel closed $20M in funding and intends to use the proceeds to increase adoption of its platform. Backers for this round include existing investors. ParAccel provides a high-performance analytic platform designed to deliver ultra-fast, deep insights from very large data sets. The company positions its software as a leader in high-performance analytics, enabling unconstrained analysis on massive amounts of data. ParAccel says its platform delivers the highest absolute performance and best price-performance on industry-standard hardware, avoiding the cost of custom appliances and leveraging customers' existing IT staff and infrastructure. Its customer base includes Fortune 1000 companies in financial services, retail, and healthcare, as well as government agencies, using ParAccel for business-critical analytics beyond conventional data warehouses. The company will use the investment to capture growing demand for its Analytic Platform and extend its technology lead. The announcement was released from Campbell, CA. ParAccel develops database technology designed to reveal broader patterns in massive datasets and allow companies to slice their data many different ways. The product competes with large incumbents such as Oracle and IBM as well as smaller analytics-focused vendors like Green Plum, Vertica Systems and Aster Data. The company is based in Cupertino, Calif. It raised $22 million in a third round of funding to expand its marketing efforts. ParAccel has raised $50 million in capital to date. The company projects it will reach profitability in 2011.

Total raised

$57M

Funding rounds

3

Latest round

Equity

Latest activity

Apr 2012