When you want to be the market leader, it helps to invent a new term to define your market. A bold move, and SenSage is no stranger to bold moves. Back in 2004, not content with just being a fast OEM database for the rest of the SIM/SEM/SIEM market, Addamark changed it's name to SenSage and began competing head-on with their own customers (GuardedNet, e-Security, etc.). Now they have cooked up a new acronym for us all to add to our jargon-filled lexicons. EDW, or Event Data Warehousing. It's no surprise that they rank as the #1 Google page for this term.
This quote from the press release on the funding round sums it up nicely:
"The funds will be used to fuel the company’s momentum in the event data warehouse space, while furthering its existing leadership position in enterprise log management and security information and event management (SIEM)."
If you invent a space, you had better be sure that you have momentum in it. I mean, there's nothing worse than being listed as a laggard in some Magic Hype Quadrant that you helped create.
The deal was led by FT Ventures, with participation by Sandhill Capital, both are new additions to senSage's growing roster of investors. The round was also joined by previous investors Sierra Ventures, Canaan Partners, , and Mitsui Ventures. Canaan Partners was in on both the A and B rounds back 2002 and 2003 respectively, the latter of which scored them a seat on the board for Maha Ibrahim. This latest round nets FT Ventures vice-president Craig Hanson a chair at the table.
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