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Peaxy Secures Series B Close

SAN JOSE, Calif., Sept. 30, 2015 (GLOBE NEWSWIRE) -- Peaxy, Inc. (www.peaxy.net), a software provider that enables data access and supports advanced analytics across the enterprise, today announced it has closed $15 million in Series B funding. The investment, which was made by a number of luminaries including Federico Faggin, brings the total investment in Peaxy to $32 million since it was founded in 2012.

“Enterprises are discovering that data access is vital to enabling greater productivity, innovation and new business models. Companies in a variety of industries such as aviation, automotive, genomics and energy stand to benefit greatly by addressing the fundamental data access challenges they all face,” said Manuel Terranova, President and CEO of Peaxy. “This funding provides additional resources to expand our platform features and commercial efforts into a wider range of industrial and life sciences customers,” said Francesco Lacapra, CTO and VP Engineering.

Peaxy software makes it possible for enterprises to find, mine, manage and reuse the growing volume of data assets that enterprises generate. Customers today use various tools including Hadoop to extract additional value from their data. Peaxy software ensures they have a way to trace back to the original information. “This is one way we enable new data-centric business models for our customers, such as predictive maintenance and accelerated drug discovery,” said Terranova.

According to Svetlana Sicular, Research Director at Gartner, “Many organizations are at the point where they figured out how to get the data in Hadoop, but not how to get the data out and derive value from it. These companies are cracking under the pressure of rapidly increasing amounts of unprocessed data*.”

Peaxy software consolidates data across data types and infrastructures, supported by pat­ented technology that ensures long-term uninterrupted access to data assets.

About Hyperfiler

The Hyperfiler provides a large-scale software-defined architecture that consolidates data across types and infrastructures. Comprehensive, easy-to-use data services—including search, security and data management—enable frictionless access to data. The Hyperfiler saves time by enabling information reuse and advanced analytics. Unique patented technology in the system’s unified namespace assigns and retains permanent file pathnames that span applications and storage types to ensure uninterrupted access to data assets, even across file migrations and technology refresh cycles.

Find more information about the Hyperfiler at www.peaxy.net.

About Peaxy

Peaxy, Inc. was founded in 2012 and is dedicated to addressing challenges imposed by the unprecedented growth in unstructured and structured data and demand for data insights to drive growth, innovation and business transformation. The Peaxy team includes award-winning software professionals with numerous accomplishments in infrastructure software development.

*Gartner, Architecture Options for Big Data Analytics on Hadoop, Svetlana Sicular, 01 July 2015

Press Contact Michael Burke; Jon Lavietes MSR Communications (415) 989 9000 peaxy@msrcommunications.com Peaxy and Hyperfiler are registered trademarks of Peaxy, Inc.

Source:Peaxy, Inc.