New Funds for Data Automation Platform Parabola

San Francisco-based data automation platform Parabola has raised $8m in a Series A round of funding, which it will use to hire engineering and design staff, accelerate product development and incorporate new features.

Parabola is a drag-and-drop productivity tool through which anyone in an organization can automate their manual, repetitive data tasks. The firm offers access to a library of customizable, pre-built components, designed to enable eCommerce operations and marketing teams to pull in data, combine and transform it in bulk, and automate required actions. Users don't need any technical training skills, or to know how to write code.

The firm's new funding has been led by Matrix Partners, with participation from Thrive Capital, Elad Gil, additional angels as well as the company's previous investors, and adds to Parabola's 2018 $2.2m seed funding round. Matrix General Partner, Ilya Sukhar (pictured), who has joined Parabola's Board of Directors, comments: 'Most companies don't have the luxury of hiring tons of skilled engineers to build software custom-tailored to their operations. Parabola gives everyday knowledge workers the leverage of an engineer, allowing them to manipulate data and automate processes in the systems that power their business. I'm excited to see how we can unlock more productivity for all'.

Web site: www.parabola.io .