WebAction Secures $20 Million in Funding Led by Intel Capital
New Investment to Expand Reach and Accelerate Sales in Response to Market Demand for an End-to-End Streaming Data Integration and Streaming Analytics Platform
PALO ALTO, CA, September 14, 2015 – WebAction, Inc., provider of the Striim™ platform for end-to-end streaming data integration and streaming analytics, today announced $20 million in Series B funding. Led by Intel Capital, the round includes additional investment from existing investors Summit Partners, Frank Caufield and Regis McKenna, as well as Panorama Point Partners and a new strategic investor.
WebAction will use the investment to continue its mission to make data useful the instant it’s born. The funds will help the company expand the technical depth and market reach of the Striim platform, accelerate sales, and build distribution channels to help meet rapidly increasing demand.
“As real-time requirements for Big Data applications have increased, so have the complexities associated with managing diverse data sources,” said Arvind Sodhani, executive vice president of Intel Corporation and president of Intel Capital. “Not only has WebAction solved the challenge of real-time data integration, they’ve coupled it with an easy-to-use streaming intelligence solution in a single platform. The combination has the potential to be truly disruptive.”
Igor Taber, investment director for Big Data and Analytics at Intel Capital, will join WebAction’s board of directors.
WebAction was founded in 2012 with the belief that the fundamental challenge in delivering streaming analytics is, in fact, streaming data integration.
“When we started WebAction, we recognized the importance of real-time data integration and streaming change data capture, as well as 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 deep experience in both data integration and application infrastructure to make streaming data integration accessible, and deliver an enterprise-strength, end-to-end streaming analytics platform1.”
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 As the Big Data integration and streaming analytics markets converge, WebAction is uniquely positioned to bridge the requirements on both sides of the equation.
WebAction’s Striim platform boasts numerous successful deployments and projects across financial services, telco, retail, gaming and the Internet of Things (IoT).
WebAction also announced today the rebranding of its software offering as Striim (pronounced “stream”), the end-to-end streaming integration and intelligence platform, as well as the Fall release of the next version of the software.
WebAction will have a presence at TDWI in San Diego on September 20-25, and Strata + Hadoop World in New York City on September 29-October 1.
On October 7 at 11am Pacific, WebAction will host a webinar with guest speaker, Mike Gualtieri, Forrester Research principal analyst covering Big Data strategy, looking at the evolution of streaming analytics, and how a new focus on streaming data integration changes the landscape. Register here.
About WebAction, Inc.
WebAction makes data useful the instant it’s born. The company provides the Striim™ platform, the only end-to-end streaming integration and intelligence solution. Striim enables multi-stream data integration and real-time Change Data Capture (CDC) across a wide variety of data sources including transactions from enterprise databases, 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. For more information on WebAction and the Striim platform, please visit striim.com, or follow @striimteam.
About Intel Capital
Intel Capital, Intel’s strategic investment and M&A organization, backs innovative technology startups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting computing and smart devices, cloud, datacenter, security, the Internet of Things, wearable and robotic technologies and semiconductor manufacturing. Since 1991, Intel Capital has invested nearly US$11.6 billion in over 1,400 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 eight months of 2015, Intel Capital invested $465 million in 94 deals, including 45 new portfolio companies, and saw 15 exits. Through its Global Summit and other business development programs, Intel Capital curates thousands of meetings each year between its portfolio and Intel’s partners in the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
1 Forrester Research defines the streaming analytics platform as: Software that can filter, aggregate, enrich, and analyze a high throughput of data from multiple disparate live data sources and in any data format to identify simple and complex patterns to visualize business in real-time, detect urgent situations, and automate immediate actions.
The Forrester Wave™: Big Data Streaming Analytics Platforms, Q3 2014, Forrester Research, Inc.
2 Market Overview: Big Data Integration, Forrester Research, Inc., December 5, 2014.
3 Streaming Analytics Market by Verticals – Market Forecast & Analysis 2015 – 2020, Research and Markets