Data analytics startup ParStream has raised an $8 million Series B round led by Khosla Ventures. The round increases ParStream’s total funding to $13.6 million. The company raised $5.6 million last year in a round led by Khosla Ventures with Baker Capital, CrunchFund (which is owned by TechCrunch founder Michael Arrington), Data Collective, Tola Capital and private individuals participating.
ParStream develops search technology that compresses data using bit-map indexes that allow data to be read very fast as it resides in-memory, stored across a distributed infrastructure. The value comes with analyzing huge amounts of data. For example, that might be a telecommunications company that has traditionally processed data by collecting it in a central location at considerable cost and limited capability. Instead, ParStream argues that the data can be analyzed at the base station, allowing it to be more precise with information to support partners who are offering services to subscribers.
ParStream, which was founded in 2008 in Germany but now keeps offices in Cologne and Palo Alto, partnered with Panopticon in May to offer data analytics and data visualization by integrating their respective platforms. ParStream competes with companies such as MapR, which does analytics on Hadoop.
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