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StreamBase Announces Complex Event Processing (CEP) Expansion Strategy

CEP Industry Estimated To Reach $1Billion by 2010; StreamBase Addresses Accelerated Demand Through Corporate, Product, & Services Expansion With Venture Capital Infusion

BOSTON, MA (USA) / LONDON (UK)  July 31, 2007 —  On the heels of announcing StreamBase 5.0 – the highest-performing and most complete Complex Event Processing (CEP) Server – StreamBase today announced a series of initiatives aimed at securing additional market share in an industry expected to grow to $1 Billion USD by 2010*.

“The Complex Event Processing industry is exploding in real-time and the biggest challenge for StreamBase is keeping up with the demand we’re seeing across multiple high-growth markets,” said Barry Morris, Chairman and CEO of StreamBase. “By investing in the right resources to further scale our business, we will continue to set the bar in delivering a fully integrated CEP architecture that delivers the best performance, most robust application development environment, and unmatched end-to-end connectivity.” 

As a result of a number of customer and product milestones, including adoption by new e-Business markets, such as online game development and web-based travel services, and the upcoming commercial launch of StreamBase 5.0, StreamBase aims to further intensify the breadth of its CEP footprint through:

• Corporate Growth & Expansion in the United States – StreamBase has expanded its corporate headquarters (located in Lexington, MA, USA) by more than 50 percent to accommodate additional staff throughout its services and support, sales, business development, engineering, and marketing organizations.  In addition, StreamBase has now opened a West Coast office in San Mateo, California to support the demand for high-performance Complex Event Processing in emerging markets such as electronic entertainment, energy, and telecommunications networking industries.

• High-Touch Services & Support – To further ensure the highest return on investment (ROI) from leveraging Complex Event Processing, StreamBase has brought together a professional services team that can guide and nurture any organization through the entire CEP deployment and ongoing development process.  Complemented by the domain expertise of its Systems Integrators, StreamBase’s professional services organization works collaboratively with clients to provide customized training packages and ongoing fine-tuning programs designed to shorten an organization’s time-to-production and accelerate time-to-value with CEP.
  
  “We are seeing a ‘land and expand’ strategy with our customers,” said Morris.  “We are brought into a division to solve one key issue around real-time data, and based on that success of that project, we are then leveraged in parallel by another team within that same division to solve a separate set of real-time challenges.  It’s not unusual for a division to have developed six separate real-time applications with StreamBase within 12 months."

• New Hire Talent Program – StreamBase is currently seeking to fill more than a dozen job openings throughout the US and UK in key areas like software/engineering, sales/marketing, and professional services.  To learn more about these positions, visit StreamBase’s career page here.
  
  Recently, StreamBase hired Larry Derany as its Senior Vice President of Engineering.  Derany brings 25 years of experience to StreamBase, where he leads the planning, design, development, and testing of all StreamBase products and solutions for high-performance Complex Event Processing.  Prior to joining StreamBase, he was Vice President of Engineering and Hardware Operations at Network Intelligence Corporation, where he led engineering initiatives behind the industry-leading enVision Security Event and Information Management family of appliances. EMC acquired Network Intelligence in 2006.  To learn more about Derany, please read his extended bio here.

In order to execute aggressively upon the core initiatives behind its corporate, product, and services expansion, StreamBase today announced that it has secured $15 million in a third round of venture financing, bringing the total amount raised to date to $31 million.  Existing investor Highland Capital Partners led the round, which also included current investors Accel Partners London, Bessemer Venture Partners, and In-Q-Tel.

“Companies everywhere are embracing high-performance CEP as the driving force to quickly make sense of the intense amount of real-time data they need to act upon,” said Morris.  “The billion-dollar opportunity anticipated for 2010 is not far away.  With this additional venture capital infusion, we can accelerate our growth strategy and continue to lead the industry.”

*Source: Aite Group, February 27th, 2007: http://www.aitegroup.com/reports/200703011.php

About Highland Capital Partners

Founded in 1988, Highland Capital Partners takes a sector-focused and stage-diversified approach to investing in exceptional companies. It invests in seed, early and growth stage companies in the communications, consumer, digital media, healthcare and information technology markets. Highland takes an active lead approach to working with companies, contributing well beyond board participation to continually seek and deliver competitive advantage to Highland-backed management teams. For more information, visit www.hcp.com. 

About Accel Partners

Founded in 1983, Accel Partners is one of the world’s leading venture capital firms. The firm is dedicated to partnering with outstanding entrepreneurs to build world-class Internet, software and networking companies. Accel Partners has more than $4bn under management from its offices in Palo Alto, London, and China, and its portfolio companies have completed IPOs that have created well over $150 billion in market capitalization. Representative current and former investments include Brightcove, Comscore, Facebook, Glam, Macromedia,  MetroPCS, RealNetworks, Riverbed, and Veritas. For more information, please visit www.accel.com.    

About Bessemer Venture Partners

Bessemer Venture Partners is a global investment group with offices in Silicon Valley, Boston, New York, Mumbai and Shanghai. As the oldest venture capital practice in the United States, Bessemer has partnered as an active, hands-on investor in Ciena, Ingersoll Rand, Parametric, Skype, Staples, VeriSign and W.R. Grace and over 100 other companies that have gone public.  To learn more, visit www.bvp.com.

About In-Q-Tel

In-Q-Tel is the strategic investment firm that works to identify, advance, and deliver innovative technology solutions to support the mission of the U.S. Intelligence Community. Launched by the CIA in 1999 as a private, independent, not-for-profit organization, In-Q-Tel's mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. Working from an evolving strategic blueprint defining the Intelligence Community's critical technology needs, In-Q-Tel engages with entrepreneurs, growth companies, researchers, and venture capitalists to deliver technologies that provide superior capabilities for the CIA and the larger Intelligence Community. In-Q-Tel concentrates on several broad commercial technology areas, including application software and analytics; communications and infrastructure; embedded systems and power; and bio, chemical, and nanotechnology. To date, In-Q-Tel has engaged with more than 100 companies and delivered more than 140 technology solutions to the Intelligence Community. To learn more about In-Q-Tel, visit www.in-q-tel.org.

About StreamBase

StreamBase's award-winning Complex Event Processing (CEP) Server, fueled by the standards-based next generation query language, StreamSQL™ and an Eclipse-based development environment, offers the fastest software for processing of real-time and historical data. With StreamBase and StreamSQL, enterprises can query, process, and analyze real-time and stored data at rates of up to hundreds of thousands messages/second. StreamBase's combination of real-time performance, persistence, and programmability empowers enterprises in industries like financial services, telecom and networking, e-Business, government and military to solve new classes of business challenges in a more timely, scalable, and cost effective manner than custom-coding. StreamBase is headquartered in Lexington, Massachusetts with offices in New York, Washington, D.C., and London. A downloadable version of StreamBase's software is available at www.streambase.com.

©2007 StreamBase Systems, Inc. All other trademarks or trade names are properties of their respective owners. All rights reserved.