Complex Event Processing vendor StreamBase Systems 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. The CEP Industry is estimated to reach $1 billion in revenues by 2010, according to the Aite Group.
“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,” says Barry Morris, Chairman and CEO of StreamBase. StreamBase recently hired Larry Derany as its Senior Vice President of Engineering. He was at Network Intelligence Corporation, a unit of EMC.
[tags]streambase,streambase systems,complex event processing,cep[/tags]