ParAccel was a venture-backed company focused on developing software for data analysis. It acquired some
intellectual property from the company XPrime, which ended operations in 2005. It was officially incorporated in February 2006, founded by Barry Zane who became chief technology officer, Tom Clancey as interim-CEO, and was first funded by
angel investors. In August 2006 the first series of
venture capital came from Mohr Davidow Ventures, Bay Partners and Tao Venture Partners. In 2007 the company was based in
San Diego, California, with an office in
Ann Arbor, Michigan. David J. Ehrlich was chief executive, and Bruce Scott, vice president of engineering. In November 2007, a second round of $20 million included previous investors and was led by Walden Ventures. In December the company opened an office in
Cupertino, California (part of
Silicon Valley). A third round of $22 million in June 2009 was led by
Menlo Ventures. In January 2010 Mark Lockareff replaced Ehrlich as interim chief executive. In March 2010 the
Wall Street Journal listed ParAccel in a list of 50 top venture backed companies. A result from the TPC-H benchmark from the
Transaction Processing Performance Council in April 2010 had record performance at 1 TB data size using
VMware. Charles W. Berger was appointed chairman and CEO in September 2010. During its July 2011 funding round, existing investors were led by
Amazon.com. In December 2012, the
Amazon Redshift database service was announced (and generally available in early 2013) using ParAccel technology. ParAccel was based in California with offices in
Campbell and
San Diego. Competitors included
Greenplum (from
Pivotal),
EXASOL,
Vertica (from
Hewlett-Packard),
Netezza (from
IBM),
Oracle Corporation, and
Teradata (including its
Aster Data Systems technology). Berger left at that time to become CEO of
Extreme Networks. ==Products==