Striim announces $50M Series C funding led by Goldman Sachs Growth Equity
Palo Alto, CA – March 31, 2021 – Striim, Inc., provider of a leading real-time data integration platform, has announced a $50 million Series C financing led by Goldman Sachs Growth Equity. Summit Partners, Atlantic Bridge Ventures, Dell Ventures, Bosch Ventures are also participating in the round.
As part of the transaction, Bob Kelly, former Microsoft executive and current Operating Partner for Goldman Sachs, will join Striim’s Board of Directors.
Striim’s platform provides an enterprise-grade streaming data integration solution for moving data in real-time to the cloud. Its technology collects data from on-premises or cloud enterprise databases leveraging non-intrusive, change data capture technology. 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.
Based in Palo Alto, CA, Striim is led by Founder & CEO, Ali Kutay, and was founded by the core team from GoldenGate Software, Inc. (acquired by Oracle in 2009). “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.” said Ali Kutay, CEO and Chairman of Striim. “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.”
“I am very excited to be joining Striim’s Board at this critical time in the company’s trajectory,” said Bob Kelly. “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. 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.”
The Company recently announced a preview release of StreamShift, a new managed service offering that helps enterprises migrate databases from on-premise to the cloud quickly and securely. 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.
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.
“We’re excited to partner 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,” said Mike Reilly, a Vice President on the Goldman Sachs Growth Equity team.