StreamSets, which provides software to manage various sets of data from a single control panel, today announced funding of $20 million in a round co-led by New Enterprise Associates (NEA) and Battery Ventures. Existing investor Accel also joined.
“You can think of StreamSets as ‘air traffic control’ for data in motion,” wrote StreamSets’ cofounder and CEO Girish Pancha, in an email to VentureBeat. “It helps companies design data feeds into their applications and then monitor the quality and timeliness of the data continually.”
A company can feed Internet of Things (IoT) sensor data from factory, farm, or construction equipment into an app that predicts failure of machinery, for example. Or it can feed network and systems log information into a cybersecurity analytics engine to detect an advanced attack using machine learning.
“We’re the ones moving the data, so we convert it into a standard record format,” wrote Pancha. “This means we can monitor both the dataflow and the contents of the data.”
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Pancha is an industry veteran in data integration and the former chief product officer of Informatica, which went private in 2015. His cofounder, Arvind Prabhakar, worked with him at Informatica before joining Cloudera in 2010 as engineering lead.
Pancha says the company has several dozen customers, including Cox Automotive, Cisco Systems, and Lithium Technologies, who subscribe annually for StreamSets’ software and services.
Since its founding in 2014, StreamSets has raised a total of $33 million. Today’s cash injection will be used to further develop the product and expand in North America and in Europe, where the startup just opened its London office.
Based in San Francisco, StreamSets currently has more than 40 employees.
