Decodable raises $20m Series A Funding

Decodable Closes $20M Round for Real-time Data Engineering Led By Venrock and Bain Capital Ventures

‍Explosive demand for real-time data and easy access drives funding and excitement for Decodable’s offering  

SAN FRANCISCO — Feb 22, 2022 — Decodable, the real-time data engineering company, today announced that it has raised more than $20 million in Series A funding led by Venrock and Bain Capital Ventures, with participation from additional investors including, DJ Patil, Board Member Devoted Health and former U.S. Chief Data Scientist; Olivier Pomel, CEO at DataDog; Spencer Kimball, CEO at Cockroach Labs; Jason Forget, CRO and President, Redis. The round follows a seed round of $5.5 million, led by Bain Capital Ventures, and brings the total funding to $25.5 million. Eric Sammer leads Decodable as the founder and CEO.

“Companies are moving to a modern real-time data stack to build and power their applications. No one wants to be the retailer that doesn’t know what’s in stock, the fintech company that can’t detect fraud, or the shipping company that doesn’t know where its packages are,” said Decodable Founder and CEO Eric Sammer. “We built Decodable to let every developer and data engineer easily access real-time data in minutes, and we’ve removed the infrastructure needs so companies no longer have to be dependent on costly and large data platform teams.”

Access To Streaming Data Doesn’t Have To Be Complicated
Decodable is the first company to put the power of real-time data engineering in the hands of every developer. With Decodable’s real-time data engineering service, engineers only need basic SQL skills to connect sources and data sinks, build and deploy real-time pipelines in just minutes, and easily manage pipelines — that just work.

Decodable runs in the cloud eliminating developers’ dependency on an in-house, dedicated data team and messaging platform specialists, which has historically put success with real-time data out of the reach of all but the largest, most tech-savvy companies. Decodable’s platform is built on proven open-source technologies, including Apache Flink and works with de facto standard open formats and protocols.

Venrock Partner Ethan Batraski said, “Decodable is leading the movement for self-service real-time data. As one of the most sought out and respected thought leaders in real-time, distributed systems, Eric and his team's certitude to free developers and teams from the low-level annals of infrastructure so they can focus on building new real-time applications and capabilities will be a game-changer. We are excited to back his incredible team.”

“Decodable has solved the real-world complexities of real-time data such as coordinating schema changes, testing pipelines against real data, performing safe deployments, and just knowing pipelines are alive and healthy,” said Stefan Cohen, Partner at Bain Capital Ventures. “We work with a lot of companies that rely on real-time data for their success, and we think Decodable is fundamental to the future of streaming data.”

Decodable is Free Today
Engineers and their teams can use Decodable today to build production-ready applications and services in minutes. Decodable supports several critical functions:

• Event-driven microservices: Route, filter, separate, and aggregate records flowing between microservices with millisecond latency and concrete delivery guarantees.
• Data mesh deployment: Seed and grow a self-service real-time data mesh between different teams building and consuming data products.
• Real-time data integration: Capture, transport, optionally transform and get data to the systems that need it in real-time for the most up-to-date view of the business.
• Real-time ML/AI pipelines: Populate a real-time feature store for always up-to-date machine learning models driving AI-infused apps such as recommendation engines and fraud detection.
• Data governance and regulatory compliance: Mask sensitive PII and PHI data creating anonymized streams prior to crossing regulatory, geographical, or organizational boundaries.

Supporting Partner Quotes

Alex Gallego, Redpanda, Founder & CEO
“Companies are drowning in complexity of streaming data, and Decodable is helping tame the operational complexity of stream processing. Together with Decodable, Redpanda's streaming data platform removes the obstacles to rapid results, helping developers and data engineers fast-track their ideas into production, and realize business value quickly and cost-effectively”

Kishore Gopalakrishna, StarTree, Co-Founder & CEO

"Customer-facing analytics is becoming the norm for the most successful brands. They rely on StarTree Cloud to deliver individual insights to their millions of customers with sub-second response times, and Decodable's transformation pipelines ensure they're always based on the freshest data available."

Resources

• Blog: Announcing General Availability of the Decodable Real-Time Data Platform - https://bit.ly/36lT1gB
• Follow Decodable on Twitter and LinkedIn
  

About Eric Sammer, Founder, CEO
Eric was VP & Distinguished Engineer at Splunk and oversaw the development of their real-time stream processing and infrastructure platform. He joined Splunk through the acquisition of Rocana, as the co-founder and CTO, which was building the ‘real-time data version of Splunk.’ Eric was an early employee at Cloudera and wrote the O’Reilly book on Hadoop Operations.

About Decodable
Decodable’s mission is to make streaming data engineering easy. Decodable delivers the first real-time data engineering service — that anyone can run.  As a serverless platform for real-time data ingestion, integration, analysis, and event-driven service development, Decodable eliminates the need for a large data team, clusters to set up, or complex code to write. The company is backed by Bain Capital Ventures and Venrock. To learn more, please visit decodable.co

About Bain Capital Ventures
Bain Capital Ventures partners with disruptive founders to accelerate their ideas to market. BCV invests from seed to growth in startups driving transformation across industries, from SaaS, infrastructure software, and security to fintech, healthcare, commerce, and consumer tech. The firm has helped launch and commercialize more than 395 companies, including Attentive, Digital Currency Group, DocuSign, Flywire, Jet.com, LinkedIn, Redis Labs, Rent the Runway, SendGrid, and SurveyMonkey. BCV has nearly $10 billion in assets under management with offices in San Francisco, New York, Boston, and Palo Alto.

About Venrock
Originally established as the venture capital arm of the Rockefeller family in 1969, Venrock partners with entrepreneurs to build some of the world's most disruptive, successful companies. With a primary focus on technology and healthcare, portfolio companies have included Apple, Intel, Gilead, Checkpoint, Doubleclick, Illumina, Millennium, Nest, Cloudflare, 10x, and Dataminr. For more information, please visit Venrock's website at https://www.venrock.com/ and follow the firm on Twitter at https://twitter.com/Venrock.

Media Contact:
David Oro
decodable@orogroup.com