COLOGNE, Germany and PALO ALTO, California, August 14, 2012 /PRNewswire/ --
Real-time Big Data analytics database provider ParStream today announced that it has closed a $5.6 million round of series A financing led by Khosla Ventures. In addition to Khosla Ventures, investors include Baker Capital, Crunch Fund, Data Collective, Tola Capital and private investors. Shirish Sathaye, partner at Khosla Ventures, will join ParStream's board.
Founded in Germany in 2008, ParStream has produced an analytics engine that combines a unique compressed indexing method with massive parallel processing to deliver real-time and low latency results for Big Data analytics. This approach has been gaining recognition for ParStream, including recently being named a "Cool Vendor" by Gartner Research. The company financed its product development through investments from the founders and angel investors. ParStream enables customers across several industries to gain new insights from Big Data in real-time and it is currently used in marketing analytics, customer analytics, operations analytics, research and other scenarios.
"We will use the proceeds of this round to further invest in our product roadmap and to accelerate ParStream's growth in the US and global markets," explains Mike Hummel, CEO and co-founder of ParStream. "We recently opened our US headquarters in Palo Alto, California and are receiving strong interest and demand from enterprise customers and independent software vendors who are building solutions that capture the opportunity associated with real-time data analytics delivered by our platform.""The ParStream database has been engineered for speed from its inception - combining unique algorithms with leading-edge technology like compressed bitmap indices and massive parallel processing. The database delivers sub-second response times on billions of data records, while continuously importing new data with very high throughput." explains Jörg Bienert, CTO and co-founder.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV