Xcalar announced it has raised $21 million in Series A financing. Four investors contributed to the round, including Khosla Ventures and Merus Capital.
Xcalar is a business analytics platform that enables Fundamental Discovery™ of meaningful insights directly from petabytes of raw data. According to the company, their unprecedented speed, scale, simplicity, and efficiency bring a significant reduction in the time needed to gain business insights, regardless of the size and complexity of the dataset. Xcalar does not require any data prep or data shuffling before it begins analysis, nor does it need to move data due to its patent-pending True Data In Place™ technology.
With the announcement, Xcalar also announced the availability of its business analytics platform, Xcalar 1.2.