Accenture Ventures makes minority investment in Paxata
Delhi; Nov. 20, 2017 – Accenture (NYSE: ACN) has formed a strategic alliance with and made a minority investment in Paxata, a company empowering businesses to transform raw data into ready information. The alliance aims to help clients provide enterprise end users with exceptional data control across multiple data sources. This will speed time-to-business-insight and free up IT resources, allowing scarce data talent to work on strategic data architecture, rather than tactical data preparation. Terms of the investment were not disclosed.
Recognizing Paxata as a strategic data partner, Accenture will include Paxata’s Adaptive Information Platform and self-service data prep application in the Accenture Insights Platform (AIP). AIP is a cloud-based analytics-as-a-service solution designed to solve business problems supporting a data-driven culture.
Using Paxata’s Adaptive Information Platform and approach for data democratization with governance, Accenture helps clients accelerate access to contextual information. Business analysts will be able to gather, explore, discover and prepare data themselves and rapidly assemble and construct information that is trustworthy and ready for business use.
Paxata will also support Accenture clients’ emerging enterprise requirements such as digital transformation, modern data supply chain, and General Data Protection Regulation (GDPR) for hybrid and multi-cloud environments.
“Paxata’s Adaptive Information Platform empowers users to unlock trapped data and use it to develop robust insights, which can lead to more intelligent decision-making and better business outcomes,” said Narendra Mulani, chief analytics officer, Accenture Analytics. “Through Accenture’s investment and strategic alliance with Paxata, we are well positioned to help our clients’ transformation to becoming data-native organizations.”
The investment and alliance was undertaken through Accenture Ventures, which identifies, partners and strategically invests in the most promising innovations in the market to quickly scale disruptive innovation. As part of the alliance, Accenture will be a preferred systems integrator for Paxata’s platform globally. Accenture and Paxata will collaborate on Paxata’s product roadmap with the opportunity to undertake joint solution design and technical integrations, for the benefit of clients of both companies.
“Accenture’s drive for efficiency, innovation, and assisting clients with emerging technologies makes this an incredibly strong and an exciting alliance”, said Prakash Nanduri, CEO, Paxata. “From the outset, Paxata has focused on methods to democratize data by creating the tools for transforming raw data into information and placing them in the hands of the business consumer. Our platform can help clients increase productivity for their business analysts and generate value from information more quickly. It supports the needs of business and IT teams for digital business transformations, data lake migrations, and regulatory compliance while ensuring enterprise-wide governance.”
“Together, Accenture and Paxata are building new capabilities that will help our clients create modern and highly effective data supply chains, and, ultimately, enabling them to become intelligent data-powered enterprises,” said Sanjeev Vohra, group technology officer, Accenture Technology Services. “We are excited about this partnership that will unleash new opportunities for business growth and client value creation.”
Paxata has received broad recognition of its solutions, which in the last year include being named in CRN’s Emerging Vendors 2017: Big Data Startups You Need to Know list and CRN’s 2017 Big Data 100: 35 Coolest Data Management and Integration Vendors. In March 2017, Paxata was also recognized as a ‘Leader’ in the Forrester Wave™: Data Preparation Tools, Q1 2017.