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ICON Corporate Finance advises Seattle-based Event Store on Series A Strategic Investment

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Event Store is the go-to database for CQRS and Event Sourcing projects around the world and across technology stacks. Building on its momentum, we are launching Event Store Cloud, a multi-cloud Database-as-a-Service (DBaaS).

Dave Remy, CEO, Event Store

Dave Remy CEO Event Store

29 Sep 2020

Tech-focused investment bank ICON Corporate Finance has advised Seattle-based Event Store on its strategic investment from Qualasept Holdings (QH).

Event Store is the company behind EventStoreDB, the open source event stream database which has been a market leader in Event Sourcing and Event Driven Architecture since its launch in 2011. Initially incubated within QH, Event Store’s significant success across multiple sectors brought about the spin out and strategic investment.

Leading companies around the world use Event Store’s database to provide a robust records environment, especially in sectors with strong audit requirements such as financial services and healthcare. These include Walmart, Xero, Insureon, Linedata, Made.com, UK National Health Service and Swiss Air Traffic Control.

Monica Simmons, Director at ICON Corporate Finance, who led the transaction, commented, “We are delighted to be advising the team at Event Store on this significant step on their journey. EventStoreDB’s record and audit technology is critical to harnessing the full power of data base technology. This is a transformational development in the industry.”

Event Sourcing is a powerful architectural pattern that records all changes made to an application’s state as they were originally applied. It provides both a system of record and an audit log of activity. It has become popular in recent years as organisations strive to build systems that are resilient and scalable.

“As applications increasingly move toward event-driven architectures, foundational platforms like EventStoreDB will be a critical first source of truth in capturing and enabling analysis of event data. This technology will generate meaningful and measurable value across multiple industries” said Ben Kolada, Director, Head of DataTech at ICON Corporate Finance.

Many mainstream database technologies keep only the latest state of data, deleting the old data when it changes. Unlike many of its competitors, EventStoreDB retains the changes alongside vital information relating to the context of the changes in the form of events. This provides critical advantage for its users.

Dave Remy, CEO of Event Store, commented “From the time Greg Young and the Event Store team released EventStoreDB in 2012, it has been the go-to database for CQRS and Event Sourcing projects around the world and across technology stacks. This investment represents a new stage for Event Store and EventStoreDB, making it accessible to more developers via Event Store Cloud, with enhancements to improve developer experience, scalability, as well as, over time, the ability to introduce new products and services to help developers successfully build systems within an Event Driven Architecture.”

The technology’s relevance and appeal is expanding beyond sectors with strong audit requirements, into the retail, public, telecommunications, and technology sectors. Building on its momentum, the company is launching Event Store Cloud, a multi-cloud database as a service (DBaaS).

Event Store was advised by ICON Corporate Finance. QH was advised by BDO, Roxburgh Milkins and Alantra.

This transaction highlights ICON’s growing expertise in Data Tech. It further establishes ICON’s role as a leading adviser to outstanding technology growth businesses and adds to our track record of over 250 successfully closed transactions.

Our AI & Data Technologies Report by Ben Kolada, Director, Head of DataTech at ICON Corporate Finance, is available here

The Deal: