Streamkap, a real-time data streaming provider, announced that it has raised $3.3 million in seed and pre-funding for its low-cost and low-maintenance streaming ETL platform. Investors include InReach Ventures, TEN13, Haatch, and Begin Capital. The company has also attracted angel investors with positions at companies such as Datadog, Anthropic, and ClickHouse.
Founded in June 2022 by Paul Dudley and Ricky Thomas, Streamkap aims to make real-time data easy, accessible and cost-effective for businesses. Built on Apache Kafka and Flink, the streaming solution offers a simple and cost-effective setup for businesses that need to get their data from A to B faster.
Since launching in 2022, Streamkap has seen significant momentum. The company will use the new funding to expand its development and go-to-market teams. On the product side, Streamkap is investing in new stream processing capabilities to enable transformations that further reduce latency.
Dudley and Thomas first met at Avora, a London-based business intelligence software company founded by Thomas, who has 25 years’ experience in data. Before Avora, Thomas already had a track record as a successful entrepreneur. In his career, he founded and sold a veterinary pharmaceuticals e-commerce business and created one of the UK’s first online dating sites.
Dudley brings experience scaling SaaS and analytics companies from zero to over $100 million in revenue. His background includes roles at enterprise data analytics companies including BrightEdge and Netbase. Dudley’s degree in physics also gave him a solid technical foundation.
Then Dudley and Thomas noticed the growing problems companies were having with batch processing of data. They found that while more and more companies were adopting streaming data, they often struggled to build the necessary infrastructure.
After Avora, they founded Gravity Data, a batch ETL provider that was later acquired. This experience reinforced their view that companies needed another solution to move their data faster.
Real-time data enables the experiences consumers expect and demand. When you order a ride or food delivery, you can see the driver’s real-time location on your phone. It wouldn’t be helpful to get an update on your food order an hour after it was scheduled to arrive. Ecommerce brands are also using real-time data to personalize the shopping experience, moving beyond traditional batch processing that often results in outdated product suggestions.
For example, Streamkap is partnering with discount designer goods e-commerce site BrandAlley to enable real-time personalization similar to the real-time personalization of TikTok’s For You page.
Streamkap enables faster data for data teams without requiring a complete overhaul of their data infrastructure, and at a fraction of the cost of batch processing or more maintenance-intensive streaming solutions. And these factors have been key in why customers like SpotOn, which provides point-of-sale solutions for restaurants and retail businesses, have chosen to partner with Streamkap.
KEY QUOTES:
“Today, consumers increasingly expect and demand real-time experiences, and businesses need faster data to enable those experiences and make critical decisions. We make real-time data simple by helping companies bring low-latency data into modern data platforms – including Snowflake, BigQuery and Databricks – with cloud offerings that are easy to deploy and use.”
“We’ve seen tremendous demand from companies looking to deliver their data in real time, whether they’re looking to accelerate their existing data stack with Snowflake or other real-time technologies. This funding will enable us to accelerate our product roadmap and bring real-time data to even more companies.”
“After years of developing ETL tools, we believed there had to be a better way. We saw companies trying to speed up batch processing, but we felt that approach was doomed to failure. Instead, we envisioned a tool that would deliver the benefits of streaming data—enterprises can move data faster using their existing infrastructure—while providing a similar but improved user experience to batch processing.”
“Because Streamkap provides real-time data feeds to our personalization partner Superlinked, we can provide up-to-the-second recommendations in real time from the moment a new product is launched. This has resulted in a massive increase in conversion rate and revenue growth across all touchpoints where this has been deployed.”
- A spokesperson for BrandAlley
“We already had an existing pipeline syncing data from the production database to Snowflake, but a delay in reporting could be significant, especially during peak traffic times for our customers. The second challenge was the cost of maintenance and infrastructure. These were the two main reasons we looked for another solution.”
“Streamkap was 4x faster and had 3x lower total cost of ownership than our previous solution.”
- Marcin Migda, Data Engineer at SpotOn
“Streamkap is positioned at the intersection of key data trends – the move to real-time and the rise of the modern data stack. With deep expertise in data infrastructure and a track record of scaling data businesses, the team is well-positioned to become a major player in this space.”
- Roberto Bonanzinga Partner at InReach Ventures
