Leading Real-Time Database Provider ParStream Raises $8M in Series B and Adds Former Sybase-President To The Board
October 17, 2013 --
Cupertino, CA (PRWEB) October 17, 2013
ParStream, provider of the leading real-time database for big data analytics, today announced that the company closed an $8 million series B funding round led by Khosla Ventures. The funding will accelerate ParStreams growth in the global Big Data market.
ParStream has been on a path of unstoppable momentum, winning great customers, and building strength in product development and partnerships, said Vinod Khosla, founder of Khosla Ventures. ParStream offers unmatched speed and performance for real-time databases to key analytics markets such as ecommerce and telecommunications.
Khosla Ventures is a world-class partner, providing outstanding support and valuable insights to our team as we strengthen our position as the leader for ultra-fast analytics of Big Data, said Mike Hummel, co-founder and CEO of ParStream.
ParStream also announced the addition of Steve Capelli, most recently President of Worldwide Field Operations at Sybase, to their Board of Directors. Capelli joined Sybase in 1997 and his responsibilities included leading global direct and partner sales teams, driving Sybase revenue growth and market leadership.
ParStream is redefining what it means to be a real-time database for big data analytics, said Capelli. ParStream has defined the third generation of analytical database technology. Im looking forward to working with the team as they expand their North American presence.
Were extremely pleased to welcome Steve as a board member, said Joerg Bienert, co-founder and CTO, ParStream. Weve built a revolutionary product and we are now strengthening our market presence by scaling our world-class team.
ParStream helps businesses gain immediate insights into their data. As the leading provider of real-time databases, ParStream powers big data analytics on the massive amounts of data businesses collect daily. The award-winning, breakthrough technology enables ultra-fast, flexible analytics of stored and streaming data. The ParStream Real-Time Database is used worldwide in ecommerce, telecommunications, finance, advertising, retail, and mining. Based in Cupertino, CA, ParStream has been awarded #1 Big Data Startup by CIO magazine and Cool Vendor by Gartner. For more information, visit http://www.ParStream.com.
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