The funds raised will be utilized primarily for sales & marketing, targeted towards expanding distribution channels and penetrating new markets in North America and to accelerate the engineering roadmap.
Parablu has raised a Pre-Series A round of more than $ 1mn led by Inflection Point Ventures, one of India’s largest angel investment platforms. The funds raised will be utilized primarily for sales & marketing, targeted towards expanding distribution channels and penetrating new markets in North America and to accelerate the engineering roadmap.
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.
Parablu has its headquarters based in California and has a fully owned subsidiary in India. They already have established distribution channels in India & the UAE. The start-up has begun penetrating the US market and is working on strengthening and setting up new distribution channels in the North American market.
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.
Ankur Mittal, Co-Founder, Inflection Point Ventures says, “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 provides a highly secure data management solution for companies across the globe, that is compliant with data privacy laws in different geographies. The rate at which digital transformation and customer data repositories are growing, Parablu is going to see an ever-increasing addressable market. The Company 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. Our strong network of CXOs globally will also generate a healthy pipeline for Parablu. We have received consistently great feedback from several of their customers, all of whom have increased their business with Parablu. During these times of work from home, the need for secure data management has grown exponentially. Parablu has won businesses from large conglomerates and displaced well-funded competitors. We look forward to being a part of Parablu’s next phase in their growth journey.”
Anand Prahlad, President & CEO, Parablu is a seasoned executive who previously ran worldwide Product Development for Commvault. He is also an author of several patents, and is intimately familiar with the storage & data-management space. Commenting on the fund raise, he says, “We couldn’t be more excited about the partnership with Inflection Point Ventures. Being an IPV-backed start-up is more than just about raising capital. IPV really understands our business. They have shown willingness to roll up their sleeves and help us in terms of real advisorship while connecting us with potential customers and channel partners. We’re looking forward to an exciting ride together as we continue to build and expand the business into new markets.”
Parablu’s leadership team comes with deep experience in Enterprise B2B software and with strong DNA in storage and security. Its founding team brings very strong product and sales skills and also have a deep understanding of the enterprise software market, both in the US and in India.
With increasing data privacy and compliance requirements, the demand for secure data management platforms is growing rapidly. With a $14 Bn market (and growing), start-ups and SMEs will need SaaS services like what Parablu is offering.
Source: Business World