Striim, Inc., provider of a real-time data integration service, has acquired $50 million in funding through a Series C round that was led by Goldman Sachs Growth Equity.
Summit Partners, Atlantic Bridge Ventures, Dell Ventures, Bosch Ventures made contributions to the investment round as well.
As part of the deal, Bob Kelly, ex- Microsoft executive and current Operating Partner for Goldman Sachs, will be taking a seat on Striim’s Board of Directors.
Striim’s platform offers an enterprise-grade streaming data integration platform for transferring data in “real-time” to the Cloud. The company’s technology gathers data from on-premises or cloud enterprise databases “leveraging non-intrusive, change data capture technology.”
As mentioned in a release:
“This data can then be delivered to virtually any target on-premises or in the cloud with sub-second latency utilizing over 3,500 out-of-the-box source/target combinations. The company boasts a strong customer base in the Financial Services, Retail, Healthcare, Logistics, Telecom and Manufacturing markets in addition to a strategic partnership network with leading cloud database providers including Google Cloud and Microsoft Azure.”
Headquartered in Palo Alto, California, Striim is being led by company Founder & CEO, Ali Kutay, and was established by the core team from GoldenGate Software, Inc. (which has been acquired by Oracle in 2009).
Ali Kutay, CEO and Chairperson at Striim, stated:
“From day one, our vision has been to enable access to real-time data at enterprise scale – across massive, heterogeneous environments. We are seeing firsthand the tremendous rate at which the world’s largest enterprises are joining the digital-first economy through the adoption of modern data platforms especially in the cloud. We are thrilled to partner with Goldman Sachs to scale out and accelerate Striim’s adoption in our core enterprise and adjacent markets where we see clear demand for an exceptional cloud data integration product. I would also like to welcome Bob Kelly as a member of our Board designated by Goldman.”
Bob Kelly added that he’s really excited to be joining Striim’s Board at this transformative time in the firm’s trajectory. Kelly also mentioned that Ali and the team are “world class, and what they have built and are scaling is in one of the hottest spaces in enterprise tech – modernizing the data stack for real time business needs.” Kelly added that the team’s “prior successes and Striim’s current inflection point make us very optimistic that Striim will become a leading company in the digital transformation of data.”
Striim recently unveiled a “preview” release of StreamShift, a new managed service offering that assists enterprises in migrating databases from on-premise to the Cloud in a fast and secure manner. A full release of the managed service offering is “expected in Q2 2021, allowing customers to migrate to databases across clouds including Google Cloud, Azure and AWS,” the release noted.
The anncoucement also mentioned:
“Building on their recent product developments and the increasing demand for enterprise-grade real-time data integration solutions, the company has continued to hire aggressively and now has over a hundred full-time employees across offices in Palo Alto, CA and Chennai, India.”
Mike Reilly, a VP on the Goldman Sachs Growth Equity team said they’re looking forward to working with a management team that has “deep domain experience in the real-time data integration market.”
“Striim has a best-in-class product that helps enterprises integrate streaming data across distributed, heterogeneous infrastructure environments while having the ability to service customers across multiple deployment models. The Striim team understands the multi-faceted needs of its growing enterprise customer base, and we believe this approach will allow Striim to meaningfully outperform its peers over the coming years in the evolving, modern data integration market as companies focus on migrating data to the cloud.”