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Newcomer StreamSets, which makes what it calls the industry’s first enterprise data operations platform, told eWEEK May 31 that it has raised $20 million in Series B funding, led by venture capital firms Accel Partners, Battery Ventures and New Enterprise Associates (NEA).
The funding will aid StreamSets in continuing to in help enterprises manage their data in motion and to propel key initiatives such as big data lakes, the Internet of Things, cybersecurity and customer-360 applications.
The 360-degree customer-view app is the idea, sometimes considered unattainable, that companies can obtain a complete view of customers by aggregating data from the various touch points that a person may use to contact a company to purchase products and receive service and support.
Proceeds from the funding round will be used for market expansion in North America and Europe and to accelerate delivery of new capabilities in its platform components: the open source StreamSets Data Collector and the cloud-native StreamSets Dataflow Performance Manager (DPM).
“When companies have access to fresh and pristine data, they innovate faster, operate more efficiently and reduce their business risk,” said Girish Pancha, CEO and co-founder of StreamSets. “StreamSets uniquely provides ‘air traffic control’ for all of a company’s data flows, making it possible to build data-driven applications faster and control the timeliness and quality of the data from a single point.”
StreamSets’ data operations platform is in demand, as evidenced by its rapid adoption. In the two years since its public launch, StreamSets has recorded 250,000 open source downloads, identifying half of the Fortune 100 and more than 1,000 companies within that community.
In addition, the company was recently selected as one of only four vendors in Gartner Research’s “2017 Cool Vendors in Data Management” report.
StreamSets’ platform is designed to help enterprises control dataflow chaos caused by new big data sources, a multi-cloud sprawl of data processing systems and demand from data consumers for immediate analysis, the company said.
San Francisco-based StreamSets was founded in 2015 by Pancha, former chief product officer of Informatica, and Arvind Prabhakar, a former engineering leader at Cloudera. For more information, go here.