Singapore EDBI participates in $33.5m Paxata Series D led by Intel Capital

Visual of Paxata homepage. October 2016.

Existing investors, which include the corporate investment arm of the Singapore government –  Economic Development Board (EDB) – have participated in the $33.5-million Series D round of Paxata, a provider of enterprise-grade self-service data preparation software.

This round was led by Intel Capital, along with new co-investors Microsoft Ventures, Cisco Investments, Deutsche Telekom Capital Partners and AirTree Ventures.

DEALSTREETASIA reported that EDBI led an $18 million Series C investment in the company in September 2015. That particular round saw the involvement of Accel Partners India, Walden-Riverwood Ventures and Toba Capital.

According to Crunchbase data, previous financing rounds include an $8 million Series B led by Accel Partners in October 2013 and a $1.49 million debt refinancing in November 2012. In aggregate, this brings its total funds raised to $59.5 million in terms of equity financing.

The latest round of funding will be used to further accelerate the core semantic and machine learning underpinnings of Paxata’s next generation adaptive information platform and continue expanding the company’s global presence into Europe and high-growth markets.

Additionally, Paxata will extend its industry thought leadership and education around intelligent information management to help business analysts, chief data officers, and IT management.

Speaking on the investment, Prakash Nanduri, CEO and co-founder of Paxata, said, “In 2013, we pioneered the self-service data preparation category. After demonstrating over 250% growth in bookings and serving the world’s largest and reputable brands, we are now poised to extend our leadership and disrupt the $20-billion Enterprise Information Management (EIM) market with the power of algorithms, in-memory, distributed computing, hybrid cloud architecture, and an unparalleled consumer experience.”

Paxata was also recently chosen to be the Adaptive Information Platform within the Intel Big Data & Analytics Trusted Analytics Platform (TAP) initiative, the offering that accelerates the creation of cloud-native collaboration driven by big data analytics.

Paxata was selected to be part of the Intel TAP partnership based on its innovative use of machine learning, natural language processing, and semantic analysis to improve the user experience with modern data architecture.

Ronald Kasabian, VP of Intel Corp. and General Manager of Big Data Solutions for Intel’s Data Center Group, commented: “Intel and Paxata share the view that accurate and timely information is the foundation to insight gleaned from massive amounts of data, which has the ability to dramatically transform business.”

Earlier this year the company expanded its presence beyond North America by establishing its APAC headquarters in Singapore and forging strategic partnerships with Zalesia in South Korea and K.K. Ashisuto in Japan.

Also Read:

Singapore government, Accel Partners India back big data start-up Paxata

Accel defies startup anxiety with $500m EU, Israeli Fund

Singapore government investment arm EDBI leads $45m Series C financing in Greenwave Systems

Singapore’s EDBI joins $33.7m Series E round of healthcare SaaS firm Welltok

Singapore: EDBI leads $40m investment in Shape Security

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.