ParAccel Secures $22 Million in Series C Financing Led by Menlo Ventures

CUPERTINO, Calif.--(BUSINESS WIRE)--ParAccel, Inc., provider of the record-breaking ParAccel Analytic Database, a high-speed, low-effort, massively parallel (MPP) columnar database management system (DBMS) for data warehousing and analytics, today announced it has received $22 million in a Series C venture financing round led by new investor Menlo Ventures. ParAccel will use the funds to expand product development, accelerate sales and marketing and ramp up services and support to manage its rapidly growing customer base. Previous investors Bay Partners, Mohr Davidow Ventures (MDV), Tao Venture Partners and Walden International also participated in the round.

Menlo Ventures, with more than $4 billion in capital under management and hundreds of years of collective venture and technology management experience, is one of the most successful and respected venture capital firms in Silicon Valley. It brings significant resources and expertise to help companies turn their visions into business successes, and its portfolio companies range from seed to pre-IPO and span the information technology spectrum.

ParAccel also announced that John W. Jarve, managing partner with Menlo Ventures, has joined its Board of Directors. Jarve joined Menlo Ventures in 1985 and has led Menlo’s investments in more than 40 portfolio companies, primarily in the communications, storage, semiconductor, Internet and software sectors. Prior investments and board seats include: Ascend Communications (ASND, now part of Alcatel-Lucent), Cavium Networks (CAVM), Digital Insight (DGIN, now part of Intuit), MobiTV, Parascale, PowerReviews, UUNET Technologies (UUNT, now part of Verizon), and Zimbio.

“Menlo Ventures invests in prominent young companies with disruptive potential and a distinct technology advantage to create high growth, high profit margins and operating leverage,” said Jarve. “ParAccel has demonstrated superior performance and price-performance in the rapidly growing business analytics market — a sizeable market that is tremendously underserved and will welcome the efficiency advantage ParAccel brings.”

“We are pleased to welcome Menlo Ventures as an investor in ParAccel, and John Jarve as a board member,” said ParAccel President and CEO David Ehrlich. “There is added significance to this round given the current funding climate. We will use these funds to accelerate our ability to market and deliver the ParAccel Analytic Database, the world’s fastest and most efficient platform for analytic queries. Companies of all sizes and in all geographies have expressed an interest in our record-breaking database – with this new capital raise we will expand our ability to serve our growing customer base and extend our technical leadership.”

About ParAccel

ParAccel, Inc. is the proven leader in scalable analytic performance and price-performance. The ParAccel Analytic Database™ is a new generation, MPP-Columnar DBMS that is delivering breakthrough analytic performance and price-performance in customer environments. Available as software or a virtual or packaged data warehouse appliance, it can be implemented on standard hardware from all major vendors. Leading companies like Autometrics, Merkle and TRX use ParAccel to extend their analytic performance advantage. ParAccel’s management team includes technical founders and industry veterans from noted data management companies Netezza, Oracle, Teradata, Gupta, SenSage, PointBase, and IBM. ParAccel is based in California with offices in Cupertino and San Diego. For more information please contact us at info@paraccel.com or 866-903-0335, or visit us at www.paraccel.com.