Monday, June 29, 2009

ParAccel Gains $22M

Cupertino-based ParAccel, whic is developing massively parallel database software for the data warehousing market, said this morning that it has raised $22M in a Series C venture round. The round was led by Menlo Ventures, and also included prior investors Bay Partners, Mohr Davidow Ventures (MDV), Tao Venture Partners and Walden International. ParAccel said the funding will go towards product development, sales and marketing, and to ramp up services and support. Menlo Ventures' John W. Jarve has joined the firm's board with the funding. More information »