WebAction Secures $20 Million in Funding

PALO ALTO, Calif., Sept. 14 — 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, Panorama Point Partners, Frank Caufield and Regis McKenna, as well as 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 platform.”

According to Forrester Research, the Big Data integration market promises to be bigger than the traditional data integration market within three years2. 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 20203. 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.

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 www.striim.com, or follow @striimteam.

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Source: WebAction