If you have a company but no specific market, then you might as well create your own.
Palo Alto, Calif.-based Striim, which cleverly rebranded itself after being called WebAction for three years, is pioneering a new category called stream analytics, based on real-time streaming data integration. Thus far, it is working, because it is attracting a fair amount of venture capital support.
Striim (pronounced “stream”) announced that it has closed an additional $10 million in funding from Atlantic Bridge Capital, increasing the total equity investment of its Series B funding round to $30 million.
Striim claims that its platform makes data useful the instant it is created. The company said it is the only end-to-end streaming integration and intelligence solution cloud service now available. The platform enables multi-stream data integration and real-time change data capture (CDC) across a variety of data sources, including transactions from enterprise databases, log files, message queues, applications and IoT sensor data.
Striim will benefit from Atlantic Bridge’s model for scaling companies internationally, which will expand Striim’s footprint in Europe. In conjunction with the new investment, Kevin Dillon, general partner at Atlantic Bridge Capital, will join Striim’s board of directors.
Atlantic Bridge invests primarily at the expansion capital stage in companies that have started to scale in revenue with a proven business model, and with evidence of market uptake and customer adoption. The current focus of the fund is on the big data sector and on real-time technologies in particular.
“Customers really need to get value from their investments. Big Data 1.0 provided some level of return, but we believe streaming data will accelerate the time-to-value,” Dillon said.
The expansion of this round will be used to further support Striim’s go-to-market strategy. Striim will also extend its streaming data integration and intelligence solution to power use cases in cloud, SaaS and Internet of things (IoT) applications.
Atlantic Bridge joins previously announced investors Intel Capital, Summit Partners, Panorama Venture Partners, Regis McKenna and Frank Caufield.
Striim was founded by the core team from GoldenGate Software, Inc., which was acquired by Oracle in 2009. For more information on the Striim platform, go here.