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Cloud service for scientists Paxata nabs USD8 million in investment round

October 28
12:10 PM 2013

Redwood City, California-based startup Paxata announced its USD8 million investment round today. The funding round was led by private equity firm Accel Partners.

Paxata's core service caters to scientists in data preparation and work analysis. It saw itself as the bridge between Hadoop-like data management systems and analytics. Paxata's service could be likened to Clearstory, but the former merges data from multiple sources into a single set. The end product allows business analytics and visualization tools to understand the data more.

Since its establishment in 2012, Paxata already gained customers including Box, Dannon UBS, and Pabst Brewing Company. It currently has partnerships with companies focused on business intelligence namely Qlikview, Cloudera and Tableau.

In a statement, Paxata cofounder and chief executive Prakash Nanduri said, "Most business teams face challenges in deriving value from the ever-increasing and varied sources of information. They require a fundamentally different way to make all of that data ready for visualization and decisions ... in minutes, not months."

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