ParElastic Reaps $5.7 Million
CEO: Ken Rugg
ParElastic (http://www.parelastic.com) raised $5.7 million in funding from venture capital firms led by General Catalyst Partners. Other investors include Point Judith Capital, CommonAngels and Launch Capital. The company previously raised $3 million.
Waltham, Mass.-based ParElastic develops the ParElastic Database Virtualization Engine, which the company said increases the flexibility of relational database systems. Performing similar to a parallel database system, the technology basically makes multiple standard databases work together as a single, virtual database. That means businesses don't have to migrate off their existing databases to achieve scalability.