COLOGNE, Germany and
PALO ALTO, California,
August 14, 2012 /PRNewswire/ --
Real-time Big Data analytics database provider ParStream today
announced that it has closed a $5.6
million round of series A financing led by Khosla Ventures.
In addition to Khosla Ventures, investors include Baker Capital,
Crunch Fund, Data Collective, Tola Capital and private investors.
Shirish Sathaye, partner at Khosla
Ventures, will join ParStream's board.
Founded in Germany in 2008,
ParStream has produced an analytics engine that combines a unique
compressed indexing method with massive parallel processing to
deliver real-time and low latency results for Big Data analytics.
This approach has been gaining recognition for ParStream, including
recently being named a "Cool Vendor" by Gartner Research. The
company financed its product development through investments from
the founders and angel investors. ParStream enables customers
across several industries to gain new insights from Big Data in
real-time and it is currently used in marketing analytics, customer
analytics, operations analytics, research and other scenarios.
"We will use the proceeds of this round to further invest
in our product roadmap and to accelerate ParStream's growth in the
US and global markets," explains Mike
Hummel, CEO and co-founder of ParStream. "We recently opened
our US headquarters in Palo Alto,
California and are receiving strong interest and demand from
enterprise customers and independent software vendors who are
building solutions that capture the opportunity associated with
real-time data analytics delivered by our platform."
"The ParStream database has been engineered for speed from its
inception - combining unique algorithms with leading-edge
technology like compressed bitmap indices and massive parallel
processing. The database delivers sub-second response times on
billions of data records, while continuously importing new data
with very high throughput." explains Jörg Bienert, CTO and
co-founder.
"ParStream is challenging the established database vendors
with its unique approach to solving the need for analyzing Big Data
fast enough to drive real-time action. It allows companies to solve
Big Data problems much faster and at a much lower cost and we see
applications for this technology across several industries." says
Shirish Sathaye, partner at Khosla
Ventures and ParStream board member.
About ParStream
ParStream is the provider of a real-time, low latency Big Data
analytics platform invented and developed in its Germany based engineering center. Based on its
unique indexing technology and highly parallel architecture,
ParStream filters and analyzes billions of records in sub-second
time while continuously importing new data. ParStream's has offices
in Palo Alto, Cologne, and Paris. For more information, please visit:
http://www.parstream.com .
About Khosla Ventures
Khosla Ventures offers venture assistance, strategic advice and
capital to entrepreneurs. The firm helps entrepreneurs extend the
potential of their ideas in breakthrough technologies in clean
energy, mobile, IT, cloud, big data, storage, health, food,
agriculture and semiconductors. Vinod
Khosla founded the firm in 2004 and was formerly a General
Partner at Kleiner Perkins and co-founder of Sun Microsystems.
Khosla Ventures is based in Menlo Park,
Calif. More information is available at
http://www.khoslaventures.com.
About Baker Capital
Baker Capital is a New
York-based private equity firm that has raised over
$1.5 billion in committed capital.
Founded in 1995, Baker Capital invests globally in digital
communications, media and technology at all stages of development.
The partners of Baker Capital have extensive private equity and
operational experience and deep industry relationships, allowing
the firm to provide its portfolio companies with not only capital
but also valuable strategic thinking and relationships. The
firm's portfolio includes companies such as Wine.com and Interxion
(NYSE: INXN) among others.
About CrunchFund
CrunchFund is an early stage venture capital firm founded by
Michael Arrington, Patrick Gallagher, and MG Siegler. The fund
invests in and works with information technology companies at any
stage but is primarily focused on seed and early stage investments.
The firm raised its inaugural $20
million fund in September of 2011. Investors in CrunchFund
include AOL, Accel Partners, Austin Ventures, Kleiner Perkins
Caufield & Byers, Greylock Partners, Redpoint Ventures, Sequoia
Capital, the founding partners of Andreessen Horowitz, each of the
general partners of Benchmark Capital, Ron Conway, Yuri Milner,
Brad Garlinghouse & Kevin Rose. For more information please
visit http://www.crunchfund.com
About Data Collective
Data Collective is a venture fund with a unique team of
experienced venture capitalists, technology entrepreneurs and
practicing engineers, investing together in seed and early stage
Big Data and IT infrastructure companies. Data Collective's
leaders have been investing for two decades, with over 100
companies still going strong and 40 material exits to date for
entrepreneurs and investors. The firm brings to bear more than 35
experienced technology executives and experts (CTOs, CIOs, Chief
Scientists, Principal Engineers, Professors at Stanford and Berkeley) with significant tenures at
institutions ranging from Akamai to Zynga. For more information
visit http://www.dcvc.com.
About Tola Capital
Tola Capital is a private equity firm focused on investments in
enterprise software companies. It works closely with portfolio
companies to add value to their businesses based upon deep
experience and understanding of growth levers for the software
industry. The firm invests in businesses in North America, Europe, and India. Tola Capital was founded in 2010 by
Sheila Gulati, who has a long
history within the software industry, most recently as a General
Manager at Microsoft Corporation.
Press contact:
Alessandra da Silva Huber
press@parstream.com
+49-221-977-61480
SOURCE ParStream