Concept: California’s startup Striim has launched ‘Striim Cloud’ a fully-managed SaaS (software-as-a-service) platform called Striim Cloud for real-time streaming data integration and analytics. Organizations can use real-time data to power their digital operations and business insight with over 150 automated streaming data connectors.
Nature of Disruption: The platform detects source database changes using change data capture (CDC), minimizing the impact on other processes while maintaining up-to-date data. Businesses can search, enhance, and run analysis on a live data stream in real-time rather than after it has arrived at the target database or data warehouse. Thus, allowing them to build apps on the pipeline and increase data capabilities without compromising on performance. It uses streaming SQL (Structured Query Language) to deliver real-time data ready for analysis, execute continuous queries and loads, as well as the ability to combine live streams with other data for lambda views and analysis. The users can view all of their data pipelines in one place, and also add new pipelines or update current pipelines. Striim Cloud supports cloud-native services and integrations, allowing businesses to respond quickly to changing market demands. With dashboards, monitoring, alerts, visualizations, and reporting, the platform can analyze and visualize continuously ingested data, making it suitable for fraud detection and risk management. With effective validation that compares sources and targets regularly, businesses can ensure data consistency and readiness. The platform integrates data into platforms including Azure Synapse Analytics, Google Big Query, and Snowflake.
Outlook: Handling and analyzing massive amounts of data for real-time decision-making and operations is a significant concern for organizations, and it is getting more complex as more data sources get online. These issues are driving digital transformation, and the Striim Cloud platform aims to help businesses of all sizes, from Fortune 500 companies to small firms, to migrate their legacy application architectures to current, cloud-native architecture with minimal downtime. Striim claims to have a large customer base in the retail, healthcare, logistics, financial services, manufacturing, and telecom markets. Google, Gartner, and Macy’s are among the startup’s customers. In March 2021, Striim raised $50M in a Series C funding led by Goldman Sachs Growth Equity with participation from Dell Ventures, and Bosch Ventures to grow its team.