ParAccel, maker of database technology that allows users to see broader patterns in massive data sets, has raised $22 million in a third round of funding from Menlo Ventures, Bay Partners, Mohr Davidow Ventures, Tao Venture Partners and Walden International. The money will be used to expand its marketing efforts, VentureWire reports.
Based in Cupertino, Calif., ParAccel says it will reach profitability in 2011. In allowing companies to slice their data many different ways, the company competes with heavy hitters like Oracle and IBM. It also rivals smaller players like Green Plum, Vertica Systems and Aster Data.
The startup has raised $50 million in capital to date.