US-based online retail company Amazon has led a reported $15m round for local database management company ParAccel.
Amazon was joined in the series E round by ParAccel’s existing investors, Silicon Valley Bank and venture capital (VC) firms Menlo Ventures, Mohr Davidow Ventures, Bay Partners, Walden International and Tao Venture Capital Partners. Terms were undisclosed as ParAccel declined to comment on the amount, but news provider PE Hub reported it had raised about $15m.
The VC firms had all previously participated in the company’s series C round, which raised $22m in June 2009. According to a filing with the Securities and Exchanges Commission ParAccel closed their series D round in December 2010 at $10.5m, with the investors undisclosed.
Prior to that investment, ParAccel had raised $20m from its December 2007 series B round. Web 2.0 blog GigaOM quotes Chuck Berger, chief executive officer of ParAccel, as stating the company has raised a total of $73m since 2005.
Jeff Blackburn, senior vice-president of business development at Amazon, said: "Powerful database solutions help customers with their most complex analytics work involving large data sets. ParAccel has an industry-leading solution and is rethinking databases for the cloud – we’re excited to back such a strong team."
ParAccel’s software platform enables companies to rapidly analyze large banks of data. The company is looking to invest the equity in extending its technology base and capture demand for its analytic platform.