Parablu has raised a pre-Series A round of more than $ 1million led by Inflection Point Ventures, angel investment platform. The funds raised will be utilized primarily for sales and marketing, targeted towards expanding distribution channels and penetrating new markets in North America and to accelerate the engineering roadmap, it said in a press release.
Ankur Mittal, Co-Founder, Inflection Point Ventures said, “Data is the most important currency for companies irrespective of size. Data storage and management is an expensive affair when done in-house/offsite. Parablu has a strong lead-generation and business development team in India, and with the fund raise, is poised to build out teams of similar strength in the US."
Anand Prahlad, President & CEO, Parablu said, “Being an IPV-backed start-up is more than just about raising capital. IPV has shown willingness to roll up their sleeves and help us in terms of real advisorship while connecting us with potential customers and channel partners.”
With increasing data privacy and compliance requirements, the demand for secure data management platforms is growing rapidly. The $14 billion market (and growing), start-ups and SMEs will need SaaS services.
Parablu builds secure, enterprise-class data management solutions. The start-up has created a solution stack where Data Privacy is built-in, and have also forged an innovative and unique integration with Microsoft 365 and Google G-Suite that makes it easier and less expensive for enterprises to adopt their solutions.
Based in California, the firm has a fully owned subsidiary in India. Parablu graduated from Citrix Startup Accelerator in Feb 2015, got their first patent granted in March 2016, and just this month, got granted a second patent around their unique integration with Microsoft 365.
