Algebraix Data Raises $7.5M for Unstructured Analytics Technology
San Diego analytics startup Algebraix Data, which moved its headquarters to San Diego from Austin, TX, at the end of 2009, has raised about $7.5 million in a combination of debt, securities, and rights to acquire securities, according to a regulatory filing this week.
As I reported in 2009, Algebraix has developed analytics software that works with unstructured databases, eliminating a time-consuming and laborious process. By applying advanced algebraic algorithms and parallel processing, Algebraix says its software can monitor users’ query patterns, and it adaptively restructures the data. The company’s advanced analytics is intended for use in business intelligence, data-mining, and decision support applications.
CEO Charles Silver told Silicon Valley Watcher Tom Foremski in April that Algebraix has 22 employees and has raised $12 million from individual investors since it was founded in 2004. Since moving to San Diego, the company has added Beyond Trust CEO John Mutch (who took over San Diego’s Peregrine Systems during its bankruptcy reorganization) and Craig Andrews, the venerable San Diego technology lawyer who is now of counsel at DLA Piper.
Algebraix co-founders David L.R. Stein and Chris Piedmonte remain on the board.