ParElastic completes $2M round of funding

Date:
Wednesday July 27, 2011

Company Name:
Parelastic

Company Website:
http://www.parelastic.com

Categories:
Data Mgmt / Business Intelligence, Infrastructure, Storage, Security

Deal:
Funding

Source:
http://1.usa.gov/vfdealsparelastic1

July 27, 2011: As per SEC filings, ParElastic has completed an initial $2M round of funding. The company, founded in September of 2010, is developing technology to make standard relational databases parallel and elastic. This allows “Big Data” applications to consume cloud-based database resources on-demand, making it possible to respond quickly to sudden increases in demand, while minimizing excess capacity, and reducing application development and operating costs.