Confluent Invests in Onibex and Psyncopate Amid Increased Demand for Complete Data Streaming Platforms

Rhea-AI Summary

Confluent (NASDAQ:CFLT) has announced investments in two regional system integrators (RSIs), Onibex and Psyncopate, to meet rising demand for complete data streaming platforms. Onibex connects SAP data to other systems in real-time using Confluent Cloud, while Psyncopate specializes in migrating legacy TIBCO infrastructure to Confluent's platform.

The investments aim to scale real-time data practices, accelerate high-value use case development, and drive customer success. Confluent's SVP of Partner and Innovation Ecosystem, Paul Mac Farland, emphasized the importance of partners in capturing the $60 billion data streaming market. Both RSIs are part of Confluent's 'Build with Confluent' program, which provides access to Confluent's comprehensive data streaming platform for faster joint solution development.

Positive

• Investment in RSIs to meet rising demand for data streaming platforms
• Expansion of partner ecosystem to capture $60 billion data streaming market
• Acceleration of high-value use case development for customers
• Potential for increased market share through specialized partner solutions

Negative

• None.

Insights

Financial Analyst

Confluent's strategic investments in Onibex and Psyncopate highlight the company's commitment to expanding its market reach in the $60 billion data streaming market. This move aligns with the growing demand for real-time data solutions, as evidenced by 86% of IT leaders prioritizing data streaming investments. The partnerships aim to address specific market needs: SAP data integration and TIBCO migrations, potentially opening new revenue streams for Confluent. While the investment amounts are undisclosed, the focus on regional system integrators suggests a targeted approach to market penetration and customer acquisition. This strategy could lead to accelerated growth and increased market share for Confluent, particularly in enterprise-level implementations where specialized expertise is crucial.

Tech Expert

Confluent's investment in Onibex and Psyncopate represents a strategic move to address two critical areas in enterprise data streaming: SAP integration and legacy system migration. Onibex's "One Connect" solution tackles the complex challenge of real-time SAP data integration, a significant pain point for many large enterprises. This could potentially unlock new use cases and efficiencies for Confluent's customers. Psyncopate's expertise in migrating from TIBCO to Confluent's platform addresses the growing need for modernization of data infrastructure. By fostering these partnerships, Confluent is positioning itself as a comprehensive solution provider, capable of handling complex enterprise data ecosystems. This approach could significantly reduce adoption barriers and accelerate the transition to real-time data architectures across various industries.

Market Research Analyst

The investments in Onibex and Psyncopate reflect Confluent's strategic response to market trends and customer demands. With ISG Software Research projecting that over half of enterprises will adopt specialist real-time analytic data platforms by 2026, Confluent is positioning itself at the forefront of this shift. The focus on SAP integration and TIBCO migration addresses two significant market segments: enterprises with complex, established data systems looking to modernize and those seeking to leverage real-time SAP data for improved decision-making. This targeted approach could give Confluent a competitive edge in capturing market share from both legacy system providers and newer entrants in the data streaming space. The strategy of empowering regional system integrators also suggests a scalable model for market expansion, potentially leading to faster adoption rates and increased customer success stories.

New funding backs regional system integrators to accelerate businesses’ transition to real-time applications through SAP data integration and TIBCO migrations

AUSTIN, Texas--(BUSINESS WIRE)-- Confluent, Inc. (NASDAQ:CFLT), the data streaming pioneer, today announced investments in two regional system integrators (RSIs) to meet rising demand for complete data streaming platforms and bring real-time applications to businesses everywhere. RSIs that received this are Onibex, which leverages Confluent Cloud to connect SAP data to other operational systems in real time, and Psyncopate, which provides specialized expertise in migrating legacy TIBCO infrastructure to Confluent’s complete data streaming platform (DSP).

According to Confluent’s latest data streaming report, the vast majority of IT leaders (86%) cite data streaming as a strategic priority for IT investment. As organizations continue to gain significant ROI and benefits from real-time data, there is an increasing need for data streaming platforms across a wide range of business functions and industries. ISG Software Research states “by 2026, more than one-half of enterprises will adopt specialist real-time analytic data platforms to develop and support data-intensive operational applications.”

RSIs serve as crucial partners in helping customers make the transition to real-time data architectures. This investment from Confluent will enable both Onibex and Psyncopate to scale their real-time data practices, accelerate development of high-value use cases, and drive customer success.

“We cannot capture the $60 billion data streaming market alone,” said Paul Mac Farland, SVP of Partner and Innovation Ecosystem, Confluent. “Partners like Onibex and Psyncopate play a critical role in building a strong data streaming ecosystem that solves our customers’ biggest data challenges. Together, we can enable real-time innovation and transform the future of business with data streaming.”

How Onibex and Psyncopate fuel customer growth with data streaming

Onibex and Psyncopate are both proven Confluent partners, having been selected for the recently launched “Build with Confluent” partner program. Rather than starting from scratch, Build with Confluent gives RSIs access to Confluent’s DSP—the market’s most comprehensive solution for connecting, streaming, processing, and managing customer data anywhere—so partners can build joint solutions faster.

For example, SAP data is a vital business asset that powers enterprises around the globe, but many organizations find connecting SAP systems to other data sources to be challenging and complex. Onibex’s proprietary “One Connect” solution takes advantage of Confluent’s DSP to connect SAP operational data to other systems that manage real-time use cases such as sales analytics, inventory management, and order fulfillment.

“By connecting Confluent and SAP using ‘One Connect,’ organizations can easily adopt event-driven architectures to decouple system integration and democratize data across the enterprise, enabling real-time user experiences and decision-making,” said Gustavo Estrada, CEO and Chief Architect, Onibex. “Confluent’s investment will go toward expanding our 'One Connect' platform, making seamless data integration between SAP and Confluent Cloud within hours a reality.”

Psyncopate helps customers modernize their data infrastructure capabilities by accelerating the migration from traditional messaging systems like TIBCO to Confluent’s DSP. Achieving a smooth migration without any downtime or disruption requires an experienced integration partner that bridges the gap between legacy solutions and cutting-edge technologies. Psyncopate’s deep expertise allows companies to unlock significant cost savings, address the challenges of scale and performance, and empower developers to build applications swiftly and securely.

“As we help leading organizations modernize their legacy data infrastructure into real-time data streaming, we’ve strategically deepened our partnership with Confluent,” said Tony Giang, Founder and Principal Technology Strategist, Psyncopate. “This funding will enable us to expand our pipeline of data streaming migration projects while continuing to deliver seamless integration services to our customers.”

Confluent’s partner ecosystem emphasizes the importance of collaboration to meet the diverse needs of customers and deliver real-time data to organizations across the globe. Learn more about Confluent’s partner programs and the recently launched Build with Confluent program on our website.

Additional resources

• Learn about Onibex and Psyncopate’s solutions.
• Read the OEM partner news announced at Current 2024.
• Explore the Build with Confluent partner program.
• See how Confluent is helping its customers transform their businesses.

About Confluent

Confluent is the data streaming platform that is pioneering a fundamentally new category of data infrastructure that sets data in motion. Confluent’s cloud-native offering is the foundational platform for data in motion—designed to be the intelligent connective tissue enabling real-time data, from multiple sources, to constantly stream across the organization. With Confluent, organizations can meet the new business imperative of delivering rich, digital front-end customer experiences and transitioning to sophisticated, real-time, software-driven backend operations. To learn more, please visit www.confluent.io.

Confluent^® and associated marks are trademarks or registered trademarks of Confluent, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240918444667/en/

Kerry Tuttle

pr@confluent.io

Source: Confluent, Inc.

FAQ

What companies did Confluent (CFLT) invest in and why?

Confluent invested in Onibex and Psyncopate, two regional system integrators, to meet rising demand for complete data streaming platforms and accelerate businesses' transition to real-time applications through SAP data integration and TIBCO migrations.

How does Onibex's solution benefit Confluent (CFLT) customers?

Onibex's 'One Connect' solution uses Confluent's platform to connect SAP operational data to other systems, enabling real-time use cases such as sales analytics, inventory management, and order fulfillment, facilitating event-driven architectures and data democratization across enterprises.

What is Psyncopate's role in Confluent's (CFLT) ecosystem?

Psyncopate helps customers modernize their data infrastructure by accelerating the migration from traditional messaging systems like TIBCO to Confluent's data streaming platform, unlocking cost savings and addressing scale and performance challenges.

What is the 'Build with Confluent' program mentioned in the press release?

The 'Build with Confluent' program gives regional system integrators access to Confluent's comprehensive data streaming platform, allowing partners to build joint solutions faster without starting from scratch.