Accel Partners Expands Investments In Big Data
Company Announces Big Data Fund 2 With $100M For Investments In Data Driven
PALO ALTO, Calif., June 18, 2013
PALO ALTO, Calif., June 18, 2013 /PRNewswire/ --Accel Partners, a leading
Silicon Valley venture capital firm focusing on early stage and growth equity
investments today announced that it is allocating $100 million for its new Big
Data Fund 2 and has added Anthony Deighton, CTO of QlikTech Inc. and Shlomo
Kramer, CEO of Imperva to the Big Data Fund Advisory Council.
Building upon the firm's Big Data portfolio, the additional capital will
support entrepreneurs that are using the technology platforms that were built
in the first wave of big data startups, to create Data Driven Software (DDS)
designed to help the workforce at large make smarter decisions through deeper
"We are seeing an accelerated rate of innovation in big data, with the newest
generation of entrepreneurs re-imagining ways to extract the most value out of
big data and fundamentally change the way we work and process information,"
said Ping Li, Partner, Accel Partners. "In addition to the capital support
from Big Data Fund 2, we continue to deepen the expertise within our network
with thought leaders from related fields in data driven enterprise software
applications, and are excited to share that Anthony Deighton and Shlomo Kramer
will be joining our Big Data Advisory Council."
"The enterprise world has already embraced the concept of big data and is
starting to leverage insights derived from data to solve security and other
business problems in ways previously unthinkable," said Shlomo Kramer, CEO
Imperva. "As big data evolves it will be exciting to be at the forefront of
innovation with the Accel team, working alongside entrepreneurs who are
creating new software applications that put the power of big data into the
hands of the work force."
DDS will automatically harness data from a variety of sources, analyze it and
present valuable real-time insights to the business end user (e.g. HR
recruiters, sales representatives, IT managers, business analyst, to name a
few). No longer will the dearth of data scientists be an inhibitor to the
adoption of big data technologies –DDS will take care of the data science and
empower users to ask the bigger questions.
"The last mile of big data will be built by a new class of software
applications that enable everyday users to get real value out of all the data
being created," said Jay Parikh, vice president of infrastructure engineering
at Facebook and Big Data Advisory Council member. "Today's entrepreneurs are
now able to innovate on top of a technology stack that has grown increasingly
powerful in the last few years – enablingproduct and analytical experiences
that aremore personalized and more valuable than ever."
RelateIQ, which rolled out of stealth last week, is an example of how DDS is
able to significantly improve efficiencies in the workplace. The product is a
central place for work groups to collaborate and keep track of relationships
in real time without having to enter updates manually. It is able to pull in
massive amounts of data from email, calendars, mobile devices and other
sources, to create a transparent CRM experience. The software also
automatically analyzes and recommends actions to take ("follow up on proposal
to company A", "reply to email from client Y" etc.), becoming, as the Wall
Street Journal coined it "Your New Secretary".
Accel Partner's Big Data team has published "The Last Mile in Big Data: How
Data-Driven Software Will Empower the Intelligent Enterprise ", a whitepaper
that explores the evolution of software and detailed analysis on why DDS will
be a driving force for the next wave of innovation in software. Visit
www.accel.com/bigdatato download the whitepaper.
Accel Partners has funded a number of companies building innovative data
infrastructure platforms and DDS. Examples include: Cloudera, Couchbase,
Lookout, Nimble Storage, Opower, Prismatic, QlikView, RelateIQ, Sumo Logic,
About Accel Partners
Founded in 1983, and managing over$9.6 billionin capital, Accel Partners has
a long history of partnering with outstanding entrepreneurs and management
teams to build world-class businesses. Accel today invests globally using
dedicated teams and market-specific strategies for local geographies, with
offices inPalo Alto, California,New York City,London, andBangalore, as
well as inChinavia its partnership with IDG-Accel.
Accel has helped entrepreneurs build over 300 successful technology companies,
many of which have defined their categories, including 99designs, Actuate,
AdMob, Agile Software, Alfresco, Angry Birds (Rovio), Atlassian, BBN,
Bonobos,Braintree, Brightcove, Cloudera, ComScore, Diapers.com (Quidsi),
Dropbox, Etsy, Exclusively.in, Facebook, Flipkart, Fusion-IO, Gameforge,
GlamMedia, Groupon, Imperva, Infinera, Interwoven, IronPlanet, JBoss, Kayak,
Lookout, Macromedia, metroPCS, MoPub, Myntra, Polycom/PictureTel, Playfish,
Portal Software, QlikTech, Rapt, Real Networks, Redback, Responsys, Riverbed,
Spotify, Squarespace, SunRun, Trulia, UUNet, Veritas, Walmart.com, Webroot,
Wonga, XenSource and Zimbra.
SOURCE Accel Partners
Contact: Stephanie Ichinose, Marketing Partner, Accel Partners,
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