WebAction, Inc., a Palo Alto, CA-based real-time big data server company, closed an $11m Series B financing.
The round was led by Summit Partners, with participation from Kleiner Perkins Caufield & Byers cofounder Frank Caufield and Silicon Valley marketing veteran Regis McKenna. Peter Chung, a Managing Director of Summit Partners, Caufield and McKenna, joined WebAction’s Board of Directors in conjunction with the investment.
The company intends to use the new capital to expand research and development, and increase investments in sales, marketing, and other business development activities.
Led by Ali Kutay, Chairman and CEO, WebAction provides a real-time big data server that acquires, processes, and delivers (structured and unstructured) data across the IT infrastructure enabling data driven applications. The platform allows data to be filtered, processed, enriched, and correlated while it is still in motion.
FinSMEs
08/07/2013