San Diego analytics startup Algebraix Data, which moved its headquarters to San Diego from Austin, TX, at the end of 2009, has raised about $7.5 million in a combination of debt, securities, and rights to acquire securities, according to a regulatory filing this week.
As I reported in 2009, Algebraix has developed analytics software that works with unstructured databases, eliminating a time-consuming and laborious process. By applying advanced algebraic algorithms and parallel processing, Algebraix says its software can monitor users’ query patterns, and it adaptively restructures the data. The company’s advanced analytics is intended for use in business intelligence, data-mining, and decision support applications.
CEO Charles Silver told Silicon Valley Watcher Tom Foremski in April that Algebraix has 22 employees and has raised $12 million from individual investors since it was founded in 2004. Since moving to San Diego, the company has added Beyond Trust CEO John Mutch (who took over San Diego’s Peregrine Systems during its bankruptcy reorganization) and Craig Andrews, the venerable San Diego technology lawyer who is now of counsel at DLA Piper.
Algebraix co-founders David L.R. Stein and Chris Piedmonte remain on the board.
Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
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