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

Monday, June 29, 2009

–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.

Article sourced from www.paraccel.com, click here to read full story.

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