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Adds $10 Million in Funding From Atlantic Bridge Capital; Facilitates Expansion Into Europe
PALO ALTO, CA--(Marketwired - Mar 16, 2016) - Striim, Inc. providers of an end-to-end, real-time data integration and intelligence platform, today 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 will benefit from the "Atlantic Bridge Model" for scaling companies internationally, expanding 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 as an Observer.
Atlantic Bridge invests primarily at the expansion capital stage, in companies that have started to scale in revenues 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.
"In this economic climate, 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," said Kevin Dillon, Managing Partner of Atlantic Bridge Capital in London. "In Striim, we've found the most comprehensive platform for real-time streaming data integration and intelligence, brought to market by a trusted and proven management team. This was crucial for us."
The expansion of this round will be used to further support Striim's aggressive go-to-market strategy. Striim will also extend its leading streaming data integration and intelligence solution to power "insights the moment data is born" in Cloud, SaaS and Internet of Things (IoT) applications.
"As the Striim team works aggressively to bring our technology platform to market, it's an honor to have the additional vote of confidence from Atlantic Bridge that we are solving a critical problem and enabling the next big step in the Big Data and real-time analytics markets," said Ali Kutay, founder and Chief Executive Officer of Striim, Inc. "We are delighted to be able to partner with Atlantic Bridge and Kevin to accelerate our growth and expand the Striim platform into large customers in London and throughout Europe."
Atlantic Bridge joins previously announced investors Intel Capital, Summit Partners, Panorama Venture Partners, Regis McKenna and Frank Caufield. See press release: http://www.striim.com/news/press/webaction-secures-20-million-in-funding-led-by-intel-capital/
About Striim, Inc.
The Striim™ platform makes data useful the instant it's born. Striim (pronounced "stream") is the only end-to-end streaming integration and intelligence solution, making it easy to deliver custom streaming analytics applications. The platform enables multi-stream data integration and real-time Change Data Capture (CDC) across a wide variety of data sources including transactions from enterprise databases, log files, message queues, application and IoT sensor data. With the Striim platform, enterprises can aggregate and correlate streams from multiple data pipelines, detect anomalies, identify and visualize events of interest, and trigger alerts and workflows -- all in-memory, before data lands on disk. Based in Palo Alto, CA, Striim was founded by the core team from GoldenGate Software, Inc. (acquired by Oracle in 2009), and is backed by leading investors including Intel Capital, Summit Partners, Panorama Point Partners, Frank Caufield, and Regis McKenna. For more information on the Striim platform, please visit www.striim.com, read our blog at www.striim.com/blog/, or follow @striimteam.
About Atlantic Bridge Capital
Atlantic Bridge is a top performing Global Technology Fund with over EUR 450m in assets under management, investing in fast-growing global companies. With offices in London, Dublin, Silicon Valley and Beijing, Atlantic Bridge has a differentiated strategy which focuses on specific technology themes and implementing the "Atlantic Bridge Model" for scaling companies in global markets. For more information, see www.abven.com.