Khosla leads $8m series-B round for ParStream

The fresh capital will be used to expand ParStream's footprint in the global data market.

ParStream received its $5.6m series-A financing round in 2012, led by Khosla and including Baker Capital, CrunchFund, Data Collective, Tola Capital and private investors.

Prior to its first round of institutional funding, ParStream was backed by a consortium of business angels, with a seed funding round in 2011. The company had been bootstrapped for three years previously.

Company
ParStream provides real-time databases, developing technology to create analytics of stored and streaming data.

The firm was founded in 2008 and is registered in Cologne, while its second European office is in Paris.

After relocating its founders and opening its US subsidiary ParStream Inc in 2012, ParStream began to focus its business on North America. Its current US office is based in Cupertino, California.

People
Mike Hummel is co-founder and CEO of ParStream. Joerg Bienert is also co-founder, as well as CTO of ParStream. Vinod Khosla is the founder of Khosla Ventures. Shirish Sathaye is a partner at Khosla and has been sitting on ParStream's board since the VC's first investment last year.

Steve Capelli has also joined ParStream's board of directors. He previously was the president of worldwide field operations at software company Sybase.

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