Startup Striim Inc. has raised a $50 million funding round to grow its market share in the data management segment, where it competes with a software platform that moves business information from enterprises’ on-premise systems to the cloud.

Announced this morning, the Series C round was led by Goldman Sachs’s growth equity arm. The venture capital funds of Dell Technologies Inc. and Robert Bosch GmbH contributed as well, along with Summit Partners and Atlantic Bridge Ventures.

Striim’s data integration platform eases the logistics of transporting information between different information technology environments. Normally, to export large volumes of records from a complex application such as a database, companies must make extensive changes to its configuration. Depending on the project, some features of the application may also have to be disabled for the duration of the data migration. Striim says its platform can eliminate both requirements.

Another technical challenge arises in situations when a company plans to continue using an application after migrating its data to a new environment. In such cases, it’s not enough to migrate the data once: Any new information that is added over time to the original application also has to be brought over. Striim’s platform can synchronize data changes between systems automatically and, if there’s an outage, pause the process in a way that the startup says avoids errors and duplicate entries.  

The startup built its software with a particular focus on companies moving data from on-premises systems to the cloud. It provides pre-packaged workflows for migrating data to Amazon Web Services, Microsoft Corp.’s Azure and  Google Cloud Platform. It also supports software-as-a-service services such as Snowflake Inc.’s popular data warehouse.

Administrators can customize the individual steps in a data migration workflow using a specialized query syntax developed by Striim that shares similarities with SQL. For example, if the target system uses a different data format than the one in which the records are natively stored, Striim can be configured to make the needed adjustments. Administrators also have access to monitoring features that allow them to check if all the steps are being carried out properly.

Google LLC, Macy’s Inc. and UPS are some of the organizations that use Striim’s software to support data projects. Striim will work to add more companies to its customer base using its new $50 million funding round, among other ways by launching a managed cloud version of its software next  quarter. 

Mike Reilly, a vice president at Goldman Sachs Growth Equity, said the firm believes Striim’s approach will allow it to “meaningfully outperform its peers over the coming years in the evolving, modern data integration market.” That market is set to grow as enterprises move more legacy workloads off-premises. Moreover, Striim provides features for moving data between cloud applications, which positions it to win deals with firms that are adopting multicloud operating models.

Image: Striim