ParAccel Raises $22M

San Diego- and Cupertino-based ParAccel, a developer of software for massively parallel databases used for data warehousing analytics, announced today that it has raised $22M in a venture capital round. The round came from Menlo Ventures, as well as prior ivestors Bay Partners, Mohr Davidow Ventures (MDV), Tao Venture Partners and Walden International. According to ParAccel, Menlo's John W. Jarve has joined the board with the funding. ParAccel said the funding will go towards product development, sales and marketing, and to ramp up services and support. Notably missing from this venture round for the firm was Enterprise Partners, an early backer of the firm. However, Tao Venture Partners, the venture firm of Enterprise's former Managing Director and board representative at ParAccel, Tom Clancy, was a participant. More information »