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October 25, 2016

Paxata Accelerates Growth and Global Expansion With Fourth Round of Investment

SAN DIEGO, Calif., Oct. 25 — Paxata, provider of the leading enterprise-grade, self-service, Adaptive Information Platform that serves the needs of both the business consumer and IT, announced it has raised $33.5 million in its fourth round of investment. The latest round was led by Intel Capital, along with new co-investors Microsoft VenturesCisco InvestmentsDeutsche Telekom Capital Partners and AirTree Ventures, as well as existing investors, including Singapore-based EDBIIn-Q-Tel and Accel.

The latest round of funding will be used to further accelerate the core semantic and machine learning underpinnings of Paxata’s next generation Adaptive Information Platform and continue expanding the company’s global presence into Europe and high-growth markets.  Additionally, Paxata will extend its industry thought leadership and education around intelligent information management to help business analysts, Chief Data Officers, and IT management.

“In 2013, we pioneered the self-service data preparation category,” said Prakash Nanduri, CEO and co-founder of Paxata.  “After demonstrating over 250% growth in bookings year-over-year by serving the world’s largest and most reputable brands, we are now poised to extend our leadership as we continue to disrupt the $20 billion Enterprise Information Management (EIM) market with the power of algorithms, in-memory, distributed computing, hybrid cloud architecture and an unparalleled consumer experience.”

Paxata will be part of Intel’s partnership program for the open-source Trusted Analytics Platform (TAP) project. Complementing TAP’s integrated platform for creating and deploying analytics-powered solutions, Paxata’s innovative implementation of machine learning, natural language processing and semantic analysis improves the user experience using modern data and analytics platforms based on Intel Xeon processors.

“Intel and Paxata share the view that accurate and timely information is the foundation to insight gleaned from massive amounts of data, which has the ability to dramatically transform business,” said Ron Kasabian, Vice President and General Manager, Analytics and AI solutions, Intel Data Center Group. “The combination of big data, high-performance distributed computing, and sophisticated algorithmic intelligence leveraging Paxata’s Adaptive Information Platform on Intel Architecture is critical to accelerating time to insight.”

Igor Taber, who led the investment for Intel Capital, will also be joining Paxata’s board.

“We have long been at the forefront of making strategic bets on key technologies that drive value for our business,” said Mike Burns, Vice President of Enterprise Architecture at Cox Automotive.  “After evaluating a number of solutions in the market, it became clear that working with Paxata was one of these opportunities. Their enterprise-class, self-service Adaptive Information Platform meets the dynamic requirements of our business teams’ with a visual, no code, interactive user experience on large data volumes and is coupled with a secure, governed, enterprise-class platform that is easily deployed both on-premise and in the cloud. We are really pleased to see that Paxata is being backed by the leading financial and corporate partners to deliver on its great vision.”

About Paxata 

At Paxata, we turn raw data into trustworthy information at the speed of thought. We provide an Adaptive Information Platform that enables business analysts with an enterprise-grade, self-service data preparation system to support the on-demand and ad-hoc business data needs for analytics, operations and regulatory requirements. Business analysts work within an intuitive, visual application to access, explore, shape, collaborate and publish data with clicks, not code, with complete governance and security. IT is able to support the scale of data volumes and variety, enterprise and cloud data sources, and business scenarios for immediate and repeatable data service needs. Built on Apache Spark and optimized to run in Apache Hadoop, Paxata leverages automated artificial intelligence, elastic cloud architecture and distributed computing to deliver an immersive business consumer experience that automates the data-to-insight pipeline. The platform can be deployed both on-premises and in public, private or hybrid cloud environments.


Source: Paxata

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