Big Data company Xcalar is getting another big help this year. The company this week announced that it had raised $16 million in its latest funding round. Xcalar made the huge announcement this week.

According to Wall Street Journal, which got the full details of the startup story, the San Jose-based startup announced on Tuesday that it had raised more than $21 million to date. The Menlo Park, California-based Venture Capital Firm Khosla Ventures led this latest $16 million in Series A funding.

Other Xcalar investors include the Palo Alto-based early stage venture capital firm Merus Capital, former VMware CEO Diane Greene and Andy Bechtolsheim, Co-Founder of Sun Microsystems.

In addition to the latest funding round, the big data company also announced a new business analytics platform for the companies.

Xcalar, a new rising star in the big data space

Founded in 2013 and based in San Jose, California, Xcalar is an early stage software startup that offers a business analytics platform which helps companies extracts meaningful insights directly from their big data efforts. The company, which currently operates in stealth mode, uniquely extends relational compute on a scale-out platform for modern data, allowing companies and organizations to derive meaningful insights that not possible these days. Best of all, it delivers the fastest time-to-insights on the market today.

Xcalar has already made some partnership with Google, Microsoft, Confluent, MapR, and Tableau.

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It's currently working on deployment and pre-production pilots with several Fortune 100 top companies as well as government agencies.

Xcalar announces latest product update

Xcalar this week announced the latest update for its business analytics platform, thus allowing the fastest, and most cost-effective access to actionable insights today.

Some of the highlights of the newly released Xcalar 1.2 include a new user-friendly UI/UX, a point-and-click access feature that allows users to read all data types stored in the cloud or on-prem (Amazon S3, Google Cloud Storage, Microsoft Azure Storage, etc.), and a seamless integration with leading visualization tools.

The latest update also includes a slew of reporting tools and a more detailed data flow for tracking data lineage so that customers can easily meet data audit requirements.

For full complete details of the newly released update, check out the company’s official website.