Amazon.com is investing an undisclosed amount of money into ParAccel, a Campbell, California maker of business analytics software that helps executives and analysts “predict the future.”
“From “great leap” conceptual thinkers to “step-by-step” problem solvers, only ParAccel has the performance to both rocket through a chain of incremental questions and answer the intricately-modeled queries imagined by creatively-driven thinkers,” the company writes on its Web site.
Amazon.com is compiling massive amounts of data. Being able to mine that data for additional advantages — say in pricing or merchandising — could be huge. The ParAccel service also could integrate with the Amazon Web Services, offering additional functionality to its customers.
The companies aren’t saying exactly what the investment means, but Amazon appears to be excited about the prospects at ParAccel.
“Powerful database solutions help customers with their most complex analytics work involving large data sets,” said Jeff Blackburn, senior vice president of business development for Amazon in a press release. “ParAccel has an industry-leading solution and is rethinking databases for the cloud – we’re excited to back such a strong team.”
In addition to Amazon, backers of the company include Menlo Ventures, Mohr Davidow Ventures, Bay Partners, Walden International, Tao Venture Capital Partners and Silicon Valley Bank. GigaOm reports that ParAccel has raised a total of $75 million since it was started in 2005.
ParAccel, which partners with MicroStrategy, Cognos, Information Builders and Tableau, said that its revenue grew by 300 percent in 2010
