Not Everyone is Shrinking: Business Analytics Technology Fuels Expansion at ParAccel
At a time when many tech companies are reducing their payrolls, San Diego’s ParAccel just announced it’s moving into a new headquarters to accommodate its rapid growth. The venture-backed company, which develops business analytics technologies that accelerate database queries, says its workforce has doubled to 60 people over the past year.
“It’s great to be well-funded and in a hot market space,” says Kim Stanick, ParAccel’s vice president of marketing. The company also has operations in Cupertino, CA.
Barry Zane, who is now chief technology officer, founded ParAccel in 2005. Zane, who was also a member of the founding technical team at Netezza, led development of the ParAccel analytic database, which made its official debut in October 2007. Venture funding came from Mohr Davidow Ventures, Bay Partners, Tao Venture Partners, and Walden International.
ParAccel’s focus on business analytics has certainly been hot, especially in San Diego, which has a growing cluster of software analytics. Xconomy even prepared this useful map of the industry here.
Stanick described ParAccel’s analytic database as a general-purpose product used by a variety of customers, such as Merkle, one of the nation’s largest database marketing agencies. It is available as enterprise software, or as a virtual or packaged appliance that runs on standard computer servers.
After installing a ParAccel database last fall, Stanick says Merkle could generate marketing lists that were more accurate and comprehensive than its previous system, with a 200 percent improvement in processing time.
ParAccel’s growth has been strong enough that it usually has a few standing openings to fill. As Stanick put it, “We’re always looking for good engineers.”