Parablu Inc, a software as a service (SaaS) data management platform, has raised $1 million (Rs 7.5 crore) led by Inflection Point Ventures, the company said in a statement.
The fresh funds will be used primarily for sales and marketing, and will be targeted towards expanding distribution channels and penetrating new markets in North America. The funds will also be used for accelerating the engineering roadmap, the statement said.
Headquartered in California, Parablu has a fully-owned subsidiary in India.
The firm said that it has established distribution channels in India and the UAE, and is also targeting the US market. It is now working on strengthening and setting up new distribution channels in the North American market.
Parablu was founded in 2015 by Anand and Subash Baliga.
“Being an IPV-backed startup, it is more than just about raising capital. IPV 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,” said Anand Prahlad, President and CEO, Parablu.
Parablu builds secure, enterprise-class data management solutions. It has created a solution stack, where data privacy is built-in, and has also forged integration with Microsoft 365 and Google G-Suite, that makes it easier and less expensive for enterprises to adopt their solutions, the statement said.
Anand Prahlad is an executive who previously ran worldwide product development for Commvault. He is also an author of several patents.
Subash Baliga has over 20 years of experience in enterprise and channel sales. Baliga previously worked as Regional Director at Hitachi Data Systems, Prior to Hitachi, Subash was Country Lead for tape archive and storage at Sun Microsystems.