CAMPBELL, Calif.--(BUSINESS WIRE)--ParAccel, Inc., provider of the world’s fastest analytic database, today announced that it achieved record financial performance in 2010 with 300 percent revenue growth over 2009. The company doubled its customer base with key enterprise wins, launched ParAccel Analytic Database (PADB) 3.0, and continued to expand partnerships with leading platform, storage and analytics vendors. To keep pace with its growth, the company hired key new executives and moved its corporate headquarters to a larger facility located in Campbell – the heart of Silicon Valley.
“When I joined ParAccel in August 2010, I knew that with our impressive sales pipeline and continued technological advancement, we would close the year with tremendous growth,” said ParAccel CEO Chuck Berger. “The data warehouse market, and specifically the market for high-performance analytic databases, is growing and evolving at an exponential rate; and ParAccel is taking advantage of the unprecedented demand by putting the best product in the hands of the biggest customers. With tripled revenues and impressive customer wins last year, we proved that PADB is having a significant impact on our customers’ ability to compete in analytics-driven industries such as financial services, retail and the federal government.”
In addition to appointing Berger as Chairman and CEO, ParAccel also recently added Paul Zolfaghari, former MicroStrategy executive vice president, as chief operating officer, Tarun Loomba, former executive at Seagate and Cisco, as chief marketing officer, and Dave Kloc as vice president of international operations. Kloc held executive management roles at Aster Data and Netezza, among other business intelligence companies before joining ParAccel.
“We have built an executive team that brings more than 30 years of experience in the business intelligence and high-end analytics market,” said Barry Zane, founder and CTO, ParAccel. “With this new, energized executive team in place, strategic partnerships with NetApp, VMware, Fuzzy Logix, and leading business intelligence vendors, combined with a commitment to provide customers with the most complete solution for solving the most complex analytic challenges, ParAccel is poised for an even more impressive 2011.”
Key achievements in 2010 include:
- Record Financial Performance—Increased revenue by 300 percent, including closing Q4 at an all-time high
- Strong Customer Growth—Doubled customer base, including key wins in: financial services, retail and government
- Technology Innovation—Released ParAccel Analytic Database (PADB) 3.0, the next generation of high performance analytics that enables organizations to rapidly generate custom in-database analytics, accelerate time to analysis, use their existing infrastructure standards and provide unmatched extensibility and performance for businesses that demand and rely on instant decisions
- Growth of Technology Ecosystem— Secured certifications with leading business intelligence vendors including MicroStrategy, Cognos, Information Builders, and Tableau, and developed strategic technology partnerships with NetApp, VMware and Fuzzy Logix
- Industry Recognition—Listed among The Wall Street Journal’s Top 50 Venture-Backed Companies and named to the Red Herring Global 100
- International Growth—Built team focused on business outside of North America in response to growing international demand
For more information on ParAccel please visit http://paraccel.com .
ParAccel is the developer of ParAccel Analytic Database (PADB), the world’s fastest, most cost-effective platform for empowering analytics-driven businesses. ParAccel enables organizations to tackle the most complex analytic challenges and glean ultra-fast deep insights from vast volumes of data. Data-driven businesses in financial services, retail, health care, government and more are taking advantage of ParAccel to tackle critical, time-sensitive questions outside the scope of conventional data warehouses and existing analytic tools.
PADB is a columnar-based, massively parallel processing (MPP) software only analytic database. Designed for businesses seeking data insight at the speed of now without costly investment in proprietary hardware solutions, ParAccel delivers the industry’s highest performance against complex SQL workloads and the most challenging analytic queries. True schema-neutral, load-and-go analysis and unmatched price-performance means an accelerated speed to information and ROI.