Business analytics is big business, and ParAccel Inc., which has developed a high-speed database management system, proved it Monday by
announcing a $22 million Series C round.
The financing, led by new investor Menlo Ventures, adds to a
$20 million second round announced by the Southern California startup in December 2007, soon after it launched. Previous investors Bay Partners, Mohr Davidow Ventures, Tao Ventures Partners and Walden International also participated in the round. MDV led ParAccel's second round.
In conjunction with the financing, Menlo Ventures managing partner John Jarve will join ParAccel's board.
ParAccel's software helps enterprises analyze customer data and behavior via a high-speed database management system that uses a technology the company claims is far faster than competing products from the likes of Oracle Corp. (NASDAQ:ORCL) or IBM Corp. (NYSE:IBM).
ParAccel has built strong ties with server maker Sun Microsystems Inc. (NASDAQ:JAVA); it will be interesting to see whether the collaboration survives Oracle's pending $7.4 billion acquisition of Sun, what with Oracle offering its own flagship database management product.
- Olaf de Senerpont Domis
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