Paxata Raises $33.5M in Fourth Funding Round
Summary
Paxata, a Redwood City, California-based provider of an enterprise-grade, self-service, Adaptive Information Platform for both business consumer and IT, raised $33.5m in its fourth round of funding.In conjunction with the funding, Igor Taber, who led the investment for Intel Capital, will be joining Paxata’s board.The company intends to use the funds to further accelerate the core semantic and machine learning behind its Adaptive Information Platform, to continue to expand its global presence into Europe and high-growth markets, and extend education around intelligent information management for business analysts, Chief Data Officers, and IT management.Led by Prakash Nanduri, CEO and co-founder, Paxata leverages automated artificial intelligence, elastic cloud architecture and distributed computing to provide an enterprise-grade, self-service data preparation system to support the on-demand and ad-hoc business data needs of business analysts for analytics, operations and regulatory requirements.Paxata, which has offices in New York, Ohio, Washington DC, and Singapore, will be part of Intel’s partnership program for the open-source Trusted Analytics Platform (TAP) project.
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