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Streamkap Raises $3.3M to Bring Real-Time Data at a Fraction of the Cost to Businesses

July 31, 2024

Streamkap, a real-time data streaming provider, has secured $3.3 million in seed and pre-seed funding led by InReach Ventures, with participation from TEN13, Haatch Ventures and Begin Capital.

The company has also attracted angel investors with positions at notable companies such as Datadog, Anthropic, and Clickhouse.

Founded in June 2022 by serial data entrepreneurs Paul Dudley and Ricky Thomas, Streamkap is on a mission to make real-time data easy, accessible, and low-cost for businesses. By providing a low-maintenance streaming ETL platform built on top of Apache Kafka and Flink, Streamkap empowers companies to get their data from A to B faster with minimal setup.

In today’s fast-paced digital landscape, consumers demand immediate, seamless experiences. Whether it’s tracking a food delivery in real-time, receiving instant updates on financial transactions, or enjoying personalized shopping experiences, real-time data has become a cornerstone for meeting modern consumer expectations.

For instance, when ordering a ride or food delivery, users expect to see the real-time location of their driver. Delays or outdated information can lead to frustration and negative user experiences. Similarly, in e-commerce, real-time data allows companies to provide up-to-the-minute product recommendations, stock updates, and personalized promotions, significantly enhancing the shopping experience.

Additionally, the recent acquisition of Streamkap partner Rockset by OpenAI highlights the growing importance of real-time data in AI workloads. Real-time data is critical for AI applications, including retrieval augmented generation (RAG), which enhances large language models by integrating enterprise-specific data for accurate and relevant results.

Streamkap’s platform addresses these needs by enabling businesses to integrate low-latency data streams into their operations seamlessly. This capability is essential for applications across various industries, from finance and e-commerce to healthcare and entertainment, where real-time data can elevate customer experiences, as well as drive more informed decision-making and improved operational efficiency.

For example, Streamkap is working with discount designer goods e-commerce website, BrandAlley, to power real-time personalization, similar to the real-time personalization that powers TikTok’s “For You” page, leading to a significant uplift in engagement and sales.

Paul Dudley, Co-Founder of Streamkap, said: “Today, consumers increasingly expect and demand real-time experiences, and businesses need faster data to power these experiences and make critical decisions. We’re making real-time data easy by helping companies get low-latency data into modern data platforms with the simplicity of a traditional cloud-based ETL.”

Making real-time data easy for data teams

For data teams, Streamkap enables faster data without requiring a complete overhaul of their data infrastructure — all at a fraction of the cost of batch processing or higher-maintenance streaming solutions.

These factors were crucial in why customers like SpotOn, which provides point-of-sale solutions for restaurants and retail businesses, have chosen to partner with Streamkap. “Streamkap has been a game-changer for us in terms of delivering real-time data to our customers,” said Marcin Migda, Staff Data Engineer at SpotOn. “Their solution was 4x faster and 3x cheaper than our previous setup, and it slots right into our existing Snowflake data stack.”

Streamkap will use the new funding to expand its engineering and go-to-market teams, which have already doubled in size this year. On the product side, the company is investing in new capabilities for stream processing to enable transformations that further reduce latency.

Ricky Thomas, Co-Founder of Streamkap, commented: “We’ve seen tremendous demand from companies wanting to make their data real-time, whether they’re looking to speed up their existing data stack with Snowflake or other real-time technologies.”

“Streamkap is positioned at the intersection of major trends in data—the shift to real-time and the rise of the modern data stack,” said Roberto Bonanzinga Partner at InReach Ventures. “The team’s deep expertise in data infrastructure and track record scaling data businesses make them well-equipped to become a key player in this space.”