Matrix Partners backs Parabola as it introduces new product offering that empowers non-engineers to fully leverage data
Parabola has announced that it has raised $2.2 million in seed funding. Matrix Partners led the investment with participation from AngelPad, Merus Capital, Abstract Ventures, and individual investors including Alex Kvamme and Mike Hennessey. Funds will be used to scale product development and sales as Parabola strives to ensure that everyone can automate manual work, even without coding experience.
Currently, Parabola helps teams embrace work automation to reduce busywork and automate processes via an easy-to-use, drag-and-drop interface.
“It’s our strong belief that not everyone needs to learn how to code. Coding has a steep learning curve, involves the adoption of entirely new mindsets, and requires a high overhead to stay fresh,” said Parabola co-founder and CEO, Alex Yaseen.
Alex added, “With Parabola, we are empowering non-engineers to be more productive by enabling them to work with data in entirely new ways without needing to code or maintain any infrastructure. Parabola lets knowledge workers automate huge amounts of their daily work, freeing them to focus on the things they’re uniquely skilled to do rather than on tedious tasks.”
“Parabola has been a game changer in our ability to build custom reporting, often bypassing the need for an additional new service, all without having to wait for an analyst and/or dev person to get involved,” said Reid Sheldon, Director of Global Digital Brand Marketing at Volcom.
Using Parabola’s simple drag and drop interface for work automation, teams can pull in live data from anywhere, transform data, and push it automatically into a third-party tool, export it into a file, or trigger actions like sending emails or texts. By automating these processes, Parabola makes data easier to access and actually use, reducing a lot of headaches teams experience today. Additionally, the Parabola platform reduces burdens on engineering teams because it enables non-technical staff to handle more tasks themselves, increasing productivity and efficiency for all.
Additionally, Parabola is also announcing support for large data, enabling non-engineers to use data sets that would crash traditional spreadsheet tools. This makes it possible for non-technical people to finally get to work with large data sets in real time and fully on their own.
“I’m incredibly excited about Parabola’s potential to change how knowledge workers do their everyday work. The product distills the power of programming and data down to a simple workflow tool that is accessible to anyone who’s used a spreadsheet before,” said Ilya Sukhar, general partner at Matrix Partners. “As our economy becomes increasingly stratified by the level of software and data leverage employed, I’m optimistic that companies of all kinds will keep pace by empowering their teams with Parabola.”
Parabola was co-founded by Alex Yaseen, a former strategy, and operations consultant at Deloitte who performed wide-ranging data analysis for clients while building models that could handle data analysis and process optimization, and Mike Lang, a software engineer at Yahoo! Sports who built the RESTful web service layer for one of Yahoo’s most popular APIs.
Based on their experiences, Yaseen and Lang set out to create a product that merged the best practices of the software engineering world with the increasingly sophisticated data needs of knowledge workers. The resulting product for work automation gives everyone from sales to marketing to product management and more the ability to be self-sufficient without requiring an engineering background.
