Paxata, a Redwood City, CA–based provider of an Adaptive Data Preparation™ platform for the enterprise, raised $18m in Series C funding.
The round was led by EDBI, the corporate investment arm of the Singapore Economic Development Board, with participation from existing investors Accel Partners India, Walden-Riverwood Ventures and Toba Capital, as well as Sanju K. Bansal, Co-founder and former COO of MicroStrategy.
The company intends to use the funds to further expand R&D and the customer success organization, and accelerate vertical and geographic sales/marketing expansion efforts.
Led by Prakash Nanduri, Co-Founder and CEO, Paxata brings together data quality, data integration, enrichment, collaboration and governance in a platform that allows businesses to work with all the data they need. Built on Apache Spark and optimized to run in Hadoop environments, it leverages distributed computing, machine learning and a dynamically visual workspace that promotes transparent governance and ad hoc collaboration.
The company, which has over 50 blue chip customers across Financial Services, Consumer Goods, Retail, High Tech and Public sector industries, also has offices in New York and Washington DC.