– USA, CA – WebAction, provider of the Striim platform for end-to-end streaming data integration and operational intelligence, today announced $20 million in Series B funding. Led by Intel Capital, the round includes additional investment from existing investors Summit Partners, Panorama Point Partners, Frank Caufield and Regis McKenna, as well as a new strategic investor. Igor Taber, investment director for Big Data and Analytics at Intel Capital, will join WebAction’s board of directors.
WebAction will use the investment to continue its mission to make data useful the instant it’s born. The company will expand the technical depth and market reach of the Striim platform, accelerate sales, and build channels to help meet rapidly increasing demand.
This round of funding validates what the WebAction team has believed since founding the company in 2012: that the fundamental challenge in delivering streaming analytics is, in fact, streaming data integration. WebAction uniquely combines streaming data integration and streaming analytics in a single platform to deliver on the promise of near real-time Big Data insights.
IDC has predicted that the Big Data and analytics market will hit $125 billion in 2015.1 As part of this, big data integration will grow dramatically as legacy and new data sources are tapped for critical business insights. According to Forrester Research, the big data integration market promises to be bigger than the traditional data integration market within three years.2
At the same time, the streaming analytics market is expected to grow at a Compound Annual Growth Rate (CAGR) of 31.3% from 2015 to 2020.3 “The high velocity, white-water flow of data from innumerable real-time data sources such as market data, Internet of Things, mobile, sensors, clickstream, and even transactions remains largely unnavigated by most firms,” according to The Forrester Wave™: Big Data Streaming Analytics Platforms4, Q3 2014, Forrester Research, Inc. “The opportunity to leverage streaming analytics has never been greater.”
As the big data integration and streaming analytics markets converge, WebAction is uniquely positioned to bridge the requirements on both sides of the equation. The challenge with streaming data integration is not just the velocity and volume of data. What makes streaming integration so difficult is the in-memory organization, time-serialization, and multi-stream correlation across a variety of real-time data sources – including transaction/change data, structured and semi-structured data, log files, application and IoT sensor data – all via continuous query the instant the data and events are generated.
“When we started WebAction, we recognized not only the importance of real-time data integration and change data capture, but also the opportunity for a new software offering that could introspect data while in-motion,” said Ali Kutay, founder, president and CEO of WebAction. “Fast forward to today, we now draw on our expertise in both real-time data integration and application infrastructure to solve the streaming data integration challenge through our enterprise-strength, end-to-end streaming analytics platform.”
The WebAction platform has been generally available since the Fall 2014, and boasts numerous successful deployments across financial services, telco and retail customers. In addition, the company has dozens of proof-of-concept (POC) projects underway in these industries, as well as in gaming and the Internet of Things (IoT).
WebAction also announced today the rebranding of their technology as Striim (pronounced “stream”), the end-to-end streaming integration and intelligence platform, as well as the Fall release of the software.
About WebAction, Inc.
WebAction makes data useful the instant it’s born. The company provides Striim, the only end-to-end streaming integration and intelligence platform. Striim specializes in multi-stream data integration and real-time Change Data Capture (CDC) across a wide variety of data sources including transaction/change data, events, log files, application and IoT sensor data. With data pipelines in-place, the Striim platform makes streaming analytics easy. Enterprises can detect anomalies, identify and visualize events of interest, and trigger alerts and workflows – all in-time and in-context. Based in Palo Alto, CA, WebAction was founded by the core team at GoldenGate Software (acquired by Oracle in 2009), and is backed by leading investors including Summit Partners, Panorama Point Partners, Frank Caufield, Regis McKenna, and Intel Capital.
About Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested nearly US$11.6 billion in over 1,440 companies in 57 countries. In that timeframe, 213 portfolio companies have gone public on various exchanges around the world and 373 were acquired or participated in a merger. In the first half of 2015, Intel Capital invested $134 million in 63 deals, including 29 new portfolio companies, and saw 10 exits.
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