Amazon is putting big bucks behind big data player ParAccel Inc. as a key investor in the Campbell, Calif.-based database analytic platform's latest funding round.
According to ParAccel, Amazon.com invested an undisclosed amount in the company, along with Menlo Ventures, Mohr Davidow Ventures, Bay Partners, Walden International, Tao Venture Capital Partners and Silicon Valley Bank.
It was unclear on Thursday what ParAccel would use the investment for, but Amazon's participation is a sign that the company could leverage ParAccel's database analytics capabilities to augment new capabilities for its Amazon Web Services cloud computing services or for its Amazon.com Web retail operations, both of which compile and handle massive amounts of data.
According to ParAccel, the funding boost, which according to a GigaOm report brings ParAccel's total funding to than $73 million, will be leveraged to capture growing demand for the company's Analytics Platform and to increase its market presence.
"Powerful database solutions help customers with their most complex analytics work involving large data sets," Jeff Blackburn, senior vice president of business development for Amazon, said in a statement. "ParAccel has an industry-leading solution and is rethinking databases for the cloud – we're excited to back such a strong team."
ParAccel offers a its high performance Analytics Platform to let customers gain insights into large data sets. ParAccel has been on an upward trajectory since the company launched in 2005. From 2009 to 2010 ParAccel said it tripled revenue and doubled its number of customers.
"Our investors recognize the value of conducting unconstrained analysis on massive amounts of data to generate business insight in near real time. ParAccel enables large enterprises to use all of their data in ways that were previously not possible to drive business success," said Chuck Berger, ParAccel's chairman and CEO, in a statement. "ParAccel's software platform delivers the highest absolute performance as well as the best price -- performance on industry standard hardware avoiding the high cost of custom appliances and leveraging customers' existing IT staff and infrastructure."
ParAccel has been on an upward trajectory since the company launched in 2005. From 2009 to 2010 ParAccel said it tripled revenue and doubled the its number of customers.
