Accel India invests afresh in Big Data startup Paxata
Silicon Valley-based Big Data startup Paxata has secured around $18 million in a Series C round of funding led by EDBI, the venture arm of Singapore's Economic Development Board, according to a press release.
The round also saw participation from existing investors, including venture capital firms Accel Partners India, Walden Riverwood Ventures, Toba Capital and MicroStrategy's co-founder and former COO Sanju K Bansal.
The funding would be used to fuel its R&D, vertical and geographic sales and marketing expansion efforts. The latest round takes the total amount raised so far to over $25 million.
Founded in 2012, Paxata is an adaptive data preparation platform for enterprises. It offers companies with an interactive, analyst-centric data prep experience for data integration, data quality, semantic enrichment, collaboration and governance.
"We are pleased to bring together investors who share our vision of building a sustainable, long term global business based on sound business fundamentals," said Prakash Nanduri, co-founder and CEO of Paxata.
Paxata claims to have over 50 blue chip customers across financial services, consumer goods, retail, high tech and public sector industries.
"An emerging technology category leader like Paxata - with its intelligent data preparation solutions - will help drive innovations across industry domains and advance Singapore's position as the data science and management hub in Asia," said Swee-Yeok CHU, CEO and President of EDBI.
Paxata is headquartered in Redwood City with offices in New York and Washington DC.