With Venture Capital Infusion
On the heels of announcing StreamBase 5.0 – the highest-performing and most complete Complex Event Processing Server – StreamBase today announced a series of initiatives aimed at securing additional market share in an industry expected to grow to $1 Billion USD by 2010*.
“The Complex Event Processing industry is exploding in real-time and the biggest challenge for StreamBase is keeping up with the demand we’re seeing across multiple high-growth markets,” said Barry Morris, Chairman and CEO of StreamBase. “By investing in the right resources to further scale our business, we will continue to set the bar in delivering a fully integrated CEP architecture that delivers the best performance, most robust application development environment, and unmatched end-to-end connectivity.”
As a result of a number of customer and product milestones, including adoption by new e-Business markets, such as online game development and web-based travel services, and the upcoming commercial launch of StreamBase 5.0, StreamBase aims to further intensify the breadth of its CEP footprint through:
Corporate Growth & Expansion in the United States – StreamBase has expanded its corporate headquarters (located in Lexington, MA, USA) by more than 50 percent to accommodate additional staff throughout its services and support, sales, business development, engineering, and marketing organizations. In addition, StreamBase has now opened a West Coast office in San Mateo, California to support the demand for high-performance Complex Event Processing in emerging markets such as electronic entertainment, energy, and telecommunications networking industries.
High-Touch Services & Support – To further ensure the highest return on investment (ROI) from leveraging Complex Event Processing, StreamBase has brought together a professional services team that can guide and nurture any organization through the entire CEP deployment and ongoing development process. Complemented by the domain expertise of its Systems Integrators, StreamBase’s professional services organization works collaboratively with clients to provide customized training packages and ongoing fine-tuning programs designed to shorten an organization’s time-to-production and accelerate time-to-value with CEP.
“We are seeing a ‘land and expand’ strategy with our customers,” said Morris. “We are brought into a division to solve one key issue around real-time data, and based on that success of that project, we are then leveraged in parallel by another team within that same division to solve a separate set of real-time challenges. It’s not unusual for a division to have developed six separate real-time applications with StreamBase within 12 months.”
New Hire Talent Program – StreamBase is currently seeking to fill more than a dozen job openings throughout the US and UK in key areas like software/engineering, sales/marketing, and professional services.
Recently, StreamBase hired Larry Derany as its Senior Vice President of Engineering. Derany brings 25 years of experience to StreamBase, where he leads the planning, design, development, and testing of all StreamBase products and solutions for high-performance Complex Event Processing. Prior to joining StreamBase, he was Vice President of Engineering and Hardware Operations at Network Intelligence Corporation, where he led engineering initiatives behind the industry-leading enVision Security Event and Information Management family of appliances. EMC acquired Network Intelligence in 2006.
In order to execute aggressively upon the core initiatives behind its corporate, product, and services expansion, StreamBase today announced that it has secured $15 million in a third round of venture financing, bringing the total amount raised to date to $31 million. Existing investor Highland Capital Partners led the round, which also included current investors Accel Partners London, Bessemer Venture Partners, and In-Q-Tel.
“Companies everywhere are embracing high-performance CEP as the driving force to quickly make sense of the intense amount of real-time data they need to act upon,” said Morris. “The billion-dollar opportunity anticipated for 2010 is not far away. With this additional venture capital infusion, we can accelerate our growth strategy and continue to lead the industry.”