Paxata raises 33.5 million to further develop machine learning for information management

Paxata today announced it has raised 33.5 million to bolster the machine learning and semantic analysis foundations of its enterprise information platform. Led by Intel Capital, today's investment is Paxata's fourth funding round and brings its total capital raised to 61.5 million. Paxata's platform provides a self-service, visual approach for information management to large corporations. "We target the one billion people in the enterprise who know how to use Microsoft Excel and want to use data to make business decisions," said Nenshad Bardoliwalla, cofounder and chief product officer of Paxata, at the Intel Capital Global Summit. According to Bardoliwalla, Paxata helps those who need fast access to meaningful data without having to write code or learn to use Hadoop. Called AnswerSets, the company's product connects big data analytics to the operational applications used by business analysts, chief data officers, and IT managers.