WebAction Raises Additional $20 Million in Series B-1 Funding

WebAction cinched an additional $20 million in Series B-1 funding this week, bringing the company’s lifetime total to 31 million.

Sourced through Scoop.it from: talkincloud.com

WebAction cinched an additional $20 million in Series B-1 funding this week, bringing the company’s lifetime total to $31 million. The data integration streaming analytics provider said the latest round of funding will be used to boost its technical and marketing expertise surrounding the newly rebranded Striim (pronounced Stream) data platform.  The latest round of funding was sponsored by WebAction’s returning investors, including Intel Capital, Summit Partners and others. The company said it will also use the investment to develop its sales organization and create channels so it can meet increasing customer demand. WebAction previously raised $11 million in Series B funding in 2013.  Cloud Technology Partners Raises Additional $3.5M in Funding 

Igor Taber, investment director for Big Data and Analytics at Intel Capital, will join WebAction’s board of directors as a result of the funding, according to the announcement.   “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, in a statement. “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.” WebAction also announced the rebranding of its software platform as Striim to reflect its use in end-to-end streaming integration and intelligence. The company said the change is in name only, with the platform itself remaining the same as its original product. While the current version of Striim is identical to previous offerings, WebAction did tease several updates for its upcoming Fall release. The latest version of Striim will include new features for streaming data integration as well as for streaming analytics and operational intelligence.

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