San Francisco-based StreamSets recently announced that it has secured $20 million in Series B funding. The StreamSets data operations platform helps customers build, monitor, maintain and evolve their any-to-any data movement architectures. The round was led by Accel Partners, Battery Ventures and New Enterprise Associates (NEA). The capital injection will enable the provider to hasten their time-to-market for new initiatives, including those for the Internet of Things, Data Lake, cybersecurity, and customer 360 applications. StreamSets will use a portion of the investment to expand its presence in North America and Europe as well.
StreamSets was founded in 2014 and has raised a total of $32.5 million to date. Since launch, the vendor has surpassed more than 250,000 open source downloads. Half of the Fortune 100 and well over 1,000 organizations in total are represented in that grouping. In its most recent financials, it was revealed that StreamSets logged an eight-fold increase in revenue year over year.
In a statement, Peter Sonsini, General Partner at NEA concluded: “Since the company’s public launch in 2015, it has become increasingly clear that StreamSets can deliver the data performance management solution the market is clamoring for. The momentum they are seeing, from open source traction to adoption by some of the world’s leading enterprises, is a testament to the strength of the platform and the team Girish has assembled. We’re thrilled to continue our partnership with StreamSets and help them accelerate growth with this new round of funding.”
Last month Gartner named StreamSets a Cool Vendor in their most recent Data Management report which highlights emerging vendors in the space that offer innovative alternatives to enterprises looking to alter the strategies they deploy for information management.