Foley Hoag Advises ParElastic Corporation in $5.7M Series A Financing
April 15, 2013
ParElastic Corporation, an emerging leader in cloud data management and Foley Hoag LLP client, has raised $5.7 million in a Series A financing round.
Founded in 2010, ParElastic is the only solution that brings the flexibility of cloud architectures to all dimensions of a customer's database. The company’s product, the ParElastic Database Virtualization Engine™, allows users to execute workloads that exceed the capabilities of a single database server. ParElastic does this by making multiple standard database servers work together as a single virtual database, provisioning only the resources needed to satisfy the demands of the application and requiring no changes in application code.
“Many thanks to Foley Hoag for their continued representation,” said Ken Rugg, founder and CEO of ParElastic. “Their guidance on this and all other transactions since our formation has been an essential part of our accomplishments to date."
Foley Hoag partner David Broadwin advised ParElastic in the transaction. General Catalyst Partners led the round, with participation from existing investors including Point Judith Capital, CommonAngels and LaunchCapital.
"Foley Hoag thrives on helping promising start-ups advance their great ideas," said Broadwin. "We are very pleased to have helped ParElastic raise this new financing and look forward to being a part of their future success."
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