California headquartered SaaS platform Parablu today announced it has raised over $1 million in a pre-Series A funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm.
With this, Inflection Point Ventures completes its 41st investment deal for 2021; and is on track to invest Rs 155 crore across 60 plus startups.
Parablu was founded in 2015 by Anand Prahlad and Subash Baliga, Parablu builds secure, enterprise-class data management solutions, and due to their innovative integration with Microsoft 365 and Google Workspace, makes it easier and less expensive for enterprises to adopt their solutions.
The start-up has created a solution stack where Data Privacy is built-in and has also forged an innovative and unique integration with Microsoft 365 and Google G-Suite that makes it easier and less expensive for enterprises to adopt their solutions.
According to a statement, The funds raised will be utilized primarily for sales & marketing, targeted towards expanding distribution channels and penetrating new markets in North America, and to accelerate the engineering roadmap.
Parablu has its headquarters based in California and has a fully owned subsidiary in India. The startup has established its distribution channels in India & the UAE. Apart from this, it has begun penetrating the US market and is working on strengthening and setting up new distribution channels in the North American market.
“We couldn’t be more excited about the partnership with Inflection Point Ventures. Being an IPV-backed start-up 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’re looking forward to an exciting ride together as we continue to build and expand the business into new markets,” Anand Prahlad, President & CEO, Parablu said.
Ankur Mittal, Co-Founder, Inflection Point Ventures says, “Data is the most important currency for companies irrespective of size. Data storage and management is an expensive affair when done in-house/offsite. Parablu provides a highly secure data management solution for companies across the globe, that is compliant with data privacy laws in different geographies. 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, is poised to build out teams of similar strength in the US. Our strong network of CXOs globally will also generate a healthy pipeline for Parablu. We have received consistently great feedback from several of their customers, all of whom have increased their business with Parablu. 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,” he adds.
Parablu graduated from Citrix Startup Accelerator in February 2015, got their first patent granted in March 2016, and just this month, got granted a second patent around their unique integration with Microsoft 365.