The proceeds of the funding round will be mainly used to expand the company’s workforces and create rich experiences for its users
FREMONT, CA: Parabola, a San Francisco, CA-based company that provides its consumers the power to automate their repetitive data tasks, raises $8 million in Series A round of financing.
The latest round was led by Matrix Partners, along with the participation from Thrive Capital, Elad Gil. Additional angel investors, as well as previous investors, also participated. In conjunction with the funding, Matrix General Partner Ilya Sukhar joined Parabola’s board of directors.
The company raises financing with an intension to use the funds to hire engineering and design talent to speed up product development, incorporate new integrations, and deliver user-rich experiences for its base of ecommerce customers.
Under the leadership of Alex Yaseen, founder, and CEO, Parabola is a drag-and-drop productivity tool for all those programmers to automate repetitive data tasks via a library of customizable, predesigned steps. With the use of logical building blocks, users can automate their processes step-by-step, allowing them to function beyond the limitations of a spreadsheet with ease.
Company founder and CEO Alex Yaseen look at the tool as a means to bring about programming-like automation to all those who deal with data tasks on a regular basis, particularly in the form of a spreadsheet. “We are a drag and drop productivity tool and we like to say that we bring the power of programming to everyone,” Yaseen said in a conversation.
“The real trick is finding the right user group, the right abstraction, the right niche to start with and that’s where I think this comes back to the heart of e-commerce. I think that’s what’s super exciting about it. Parabola’s approach and what thrilled me, “he said. The company wants to use the money from this round to continue refining the platform’s design to make it even easier for non-technical users. “This round is very useful for design and product work to make it more and more comfortable for these users who are now really familiar with their spreadsheet activities. […] and we are increasingly working towards a less and less technical user, as we make products easier and more accessible, “added Yaseen.
The company also published its integration with Shopify to assist ecommerce businesses in conducting more with existing resources and brick and mortar companies bridge operational gaps as they transition towards ecommerce.