Press Releases

StreamBase Systems Secures $11 Million To Expand Sales & Marketing Activities

Accel Partners, Bessemer Venture Partners, & Highland Capital Partners Take Lead in Funding Stream Processing Start-Up

BOSTON, MA – January 24, 2005 — StreamBase Systems, Inc., a pioneer in processing technology for streaming real-time data, today announced that it has received $11 million in a second round of venture financing, bringing the total amount raised to date to $16 million. Accel Partners, a new investor, led the round, which also included current investors, Bessemer Venture Partners, and Highland Capital Partners. StreamBase delivers software products designed to process, analyze, and act on real-time data within milliseconds of its arrival. The company's product [was] introduced in February [2005] at the DEMO@15 conference.

These funds will be used to expand StreamBase's sales and marketing activities as the company formally enters the market. [See release "StreamBase Systems Addresses Growing Need for Real-Time Stream Processing," issued January 24, 2005, for additional details.] With many organizations needing to process huge volumes of real-time streaming data and instantly respond to opportunities or threats, the traditional store and query infrastructure is being overwhelmed. StreamBase's stream processing engine is the only infrastructure able to meet this new real-time reality.

"StreamBase is entering a market with incredible potential," said Barry Morris, chief executive officer of StreamBase, "and is well positioned to take advantage of the opportunity. Our founders and management team bring unmatched experience to the company, and our technology is robust and complete. Revenue-generating customers are already benefiting from our product, and this investment will allow us to reach potential customers and new markets much more effectively."

"Accel is delighted to lead the latest round of financing at StreamBase," said Bruce Golden, General Partner of Accel Partners. "We believe that StreamBase represents a breakthrough architecture to address the large and growing market requirement for real-time event or message-based analytical applications. StreamBase could fundamentally change the way major corporations build mission critical applications that require real-time processing of tens or hundreds of thousands of streaming messages. There is early evidence that StreamBase will have an immediate impact in areas such as trading, compliance, and risk management in the financial services community — and in other market segments as well in the near future."

Another result of this investment is the expansion of StreamBase's board of directors to include Mr. Golden, representing Accel Partners. The board currently includes Barry Morris; Mike Stonebraker, the company's founder and chief technology officer; Ken Marshall, chairman and chief executive officer of Extraprise; Duncan McCallum, general partner, Bessemer Venture Partners and Jo Tango, general partner, Highland Capital Partners.

Product Information

Our core software, StreamBase, is the result of more than four years of research, product engineering, and usability and performance testing, and features a high performance, enterprise-class server that can be configured via a graphical interface to solve demanding real-time processing and analytical problems. The initial version was delivered to early adopter customers in 2004 in the financial services industry.

StreamBase Systems will unveil this revolutionary product at the "DEMO@15!" event on February 14. This event has traditionally been the launch pad for some of the most advanced and exciting technologies over the past fifteen years.

About StreamBase

StreamBase Systems was founded in 2003 to address the processing demands of low latency, real-time computing. The first in a new breed of systems software, the StreamBase stream processing engine helps organizations in financial services, telecom and networking, government and military and other industries transform streaming data into competitive advantage through applications that deliver instantaneous response. Current customers include leading exchanges, hedge funds and investment firms, where applications require rapid execution of queries, analytics and actions using real-time streaming data. StreamBase is headquartered in Lexington, Massachusetts.

StreamBase Systems Media Contacts: