Parablu Raises $1 Million In Pre-Series A The funds will be utilized primarily for expanding sales, marketing, distribution channels and penetrating into new markets of North America
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Parablu has raised more than $1 million in its pre-Series A round led by Inflection Point Ventures. The funds will be utilized primarily for expanding sales, marketing, distribution channels and penetrating into new markets of North America.
Parablu builds secure, enterprise-class data management solutions. The startup has created a solution stack and has forged an unique integration with Microsoft 365 and Google G-Suite that makes it easier and less expensive for enterprises to adopt its solutions, said a statement.
"Data is the most important currency for companies irrespective of size. Parablu provides a highly secure data management solution for companies across the globe. 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 it is poised to build teams of similar strength in the US. 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," said Ankur Mittal, co-founder of Inflection Point Ventures.
"Being an IPV-backed startup 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 are looking forward to an exciting ride together as we continue to build and expand the business into new markets," said Anand Prahlad, president and CEO of Parablu.
With increasing data privacy and compliance requirements, the demand for secure data management platforms is growing rapidly. With a $14 billion market, startups and SMEs will need SaaS services like Parablu. The company'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, added the statement.
