StreamSets raised $20 million in Series B funding.
Venture capital firms Accel Partners, Battery Ventures and New Enterprise Associates (NEA) participated in the funding round.
Proceeds from the funding round will be used for market expansion in North America and Europe and to accelerate delivery of new capabilities in its platform components: the open source StreamSets Data Collector and the cloud-native StreamSets Dataflow Performance Manager (DPM).
“When companies have access to fresh and pristine data, they innovate faster, operate more efficiently and reduce their business risk,” said Girish Pancha, CEO and co-founder of StreamSets. “StreamSets uniquely provides ‘air traffic control’ for all of a company’s dataflows, making it possible to build data-driven applications faster and control the timeliness and quality of the data from a single point.”
“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,” said Peter Sonsini, general partner at NEA. “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.”
“Data analytics is the lifeblood of many businesses now, and analyzing fast-moving data — whether on premises, in the cloud or at the edge — can unleash significant business opportunity,” said Dharmesh Thakker, a general partner at Battery Ventures. “Many Fortune 500 customers we’ve spoken with have used Streamsets to guarantee timely delivery of quality data, and uncover insights to radically transform their businesses.”
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